ALDS AppLife Digital Solutions Inc (QB)

Item 8.01 other Events.

On November 16, 2020, APPlife Digital Solutions, Inc. (the “Company”) entered into a non-binding term sheet to acquire a company (the “Acquisition Target”) that currently generates approximately one million dollars ($1,000,000.00) in annual revenue and is projected to reach approximately three million dollars ($3,000,000.00) in annual revenue in 2021 and approximately five million dollars in annual revenue ($5,000,000.00) in 2022.  The Acquisition Target generates the revenue from food distribution, selling of distribution routes and is developing SAAS software for supply chain management, which drastically reduces the loss incurred from delivering perishable food. The due diligence period shall be 30-35 days and the Company will begin due diligence immediately.  If the due diligence is satisfactory by the Company and the Acquisition Target, it is anticipated definitive documents will be signed and the acquisition will close on or before December 20, 2020.  

This Current Report on Form 8-K contains forward-looking statements.  These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate.  Actual outcomes and results may differ materially from what is expressed in these forward-looking statements.