|
Item 2.01
|
Completion of Acquisition of Assets.
|
On December 6, 2019, Dalrada Financial
Corporation (the “Company”), via its wholly owned subsidiary, Dalrada Precision, acquired, by stock exchange agreement,
one hundred percent of Likido Ltd. (HQ), a United Kingdom engineering-design company based in Edinburgh, Scotland. Likido is an
international technology company, developing advanced solutions for the harvesting and recycling of energy. Using its novel, heat
pump systems (patent pending) and use of supercritical CO2, Likido is working to revolutionize the renewable energy
sector with the provision of innovative modular process technologies to maximize the capture and reuse of thermal energy for integrated
heating and cooling applications. With uses across industrial, commercial and residential sectors, Likido provides cost savings
and the minimized carbon emissions across global supply chains. Likido's technologies enable the effective recovery and recycling
of process energy, mitigating against climate change and enhancing quality of life through the provision of low-carbon heating
and cooling systems.
On January
9, 2020 Dalrada Financial Corporation acquired seventy-two percent (72%) of the issued and outstanding common shares of Prakat
Solutions, Inc. is a Texas corporation, by stock purchase agreement (“Prakat Texas”). Prakat Texas has a wholly owned
subsidiary, Prakat Solutions Private Limited, a corporation formed in India with a ten (10) year operating history, (“Prakat
India”). Prakat India provides global customers with software and technology solutions specializing in Test Engineering,
Accessibility Engineering, Product Engineering and Application Modernization. The Prakat India team provides end to end Product
Engineering services across various domains, including – Banking & Financial Services, Telecom, Retail, Healthcare, Manufacturing,
Legal and IT Infrastructure. Prakat India is an ISO 9001 Certified Company.
On or about March 23, 2020 Dalrada Health
Products Corporation acquired One Hundred percent (100%) of the ownership of Shark for Shark is a cleaning solutions provider using
electrostatic machines to spray and deodorize residential spaces, healthcare facilities, hospitality, transportation, manufacturing,
automotive, schools/education systems, and other facilities requiring cleaning services. Through the acquisition of Shark, Dalrada
Health Products developed the GlanHealth Brand (dba of Dalrada Health Products Corporation) to distribute alcohol-free hand sanitizers,
surface cleaners, laundry aides, antimicrobial solutions, electrostatic sprayers, face masks, gloves, kits, and delivery equipment
such as dispensers, stands, and ease of use packaging for the end consumer. GlanHealth leverages an extensive supply chain of producers,
resellers, distributors, vendors, and formulators for the development, sale, and marketing of its products and services.