Current Report Filing (8-k)
August 03 2018 - 2:53PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 3, 2018 (July 30, 2018)
CARDIFF
LEXINGTON CORPORATION
(Exact
name of Registrant as specified in its charter)
Florida
|
000-49709
|
84-1044583
|
(State or other jurisdiction
of incorporation)
|
(Commission
File Number)
|
(IRS Employer
Identification No.)
|
401 E. Las Olas Blvd. Suite 1400
Ft. Lauderdale, FL 33301
(Address
of principal executive offices, including zip code)
(844)
628-2100
(Registrant's
telephone number, including area code)
____________________________________________________
(Former Name or former address
if changed from last report.)
Check the appropriate box below
if the 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
☐
|
|
Written
communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)).
|
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule
12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.01 Completion of Acquisition or Disposition of Assets
Cardiff
Lexington Corporation (OTCQB:CDIX) and Red Rock Travel Group (Private: “Red Rock Travel Group”) in July 2018 signed
a definitive merger agreement under which Red Rock Travel Group will merge into Cardiff Lexington as its wholly owned subsidiary
has been completed effected July 30
th
, 2018.
This
merger provides Cardiff Lexington further entry into the online/offline marketing space. Red Rock has developed lead generation
proprietary software for timeshare and vacation club industries. Red Rock currently has a 2018 revenue run-rate of $2.16 million
with an estimated $648k EBITDA. Headquartered in Orlando, FL, with two call centers, and an experience top-notch staff. Red Rock
Travel Group (http://www.RedRockTravelGroup.com) is the leading provider of timeshare and travel
club leads in the country. They have physical kiosks in strategic locations offering discounted theme park tickets, highly discounted
travel, and engage in significant online, media, and offline advertising that directs traffic to online websites or to their state-of-the-art
call center. One of their online lead generation websites is http://www.MyFloridaGetaway.com/.
In connection with the closing of the acquisition, on July
30
th
, 2018 a Preferred “K” Class of stock with a par value of $0.001 was established and issued. The Preferred
“K” Class of stock rights and privileges include voting rights, a conversion ratio of 1:1.25 and were distributed
at the adjusted rate of $0.021 per share for a total of 8,200,562 representing a value of $175,000. These Preferred “K”
shares have a lock-up/leak-out limiting the sale of stock for 12 months after which conversions and sales are limited to 20% of
their portfolio per year, pursuant to the terms of the forward acquisition agreement.
There are no family relationships of our directors or executive
officers.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
Cardiff International, Inc.
By:
/s/ Daniel Thompson
Daniel Thompson
Title:
Chairman
Dated: August
3, 2018
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