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 Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported): August 17, 2023
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WB
Burgers Asia, Inc.
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(Exact
name of registrant as specified in its charter) |
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Nevada |
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000-56233 |
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00-0000000 |
(state
or other jurisdiction of incorporation) |
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(Commission
File Number) |
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(IRS
Employer Identification Number) |
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3F
K’s Minamiaoyama
6-6-20
Minamiaoyama, Minato-ku,
Tokyo
107-0062, Japan |
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107-0062 |
(address
of principal executive offices) |
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(zip
code) |
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81-90-6002-4978 |
(registrant’s
telephone number, including area code) |
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N/A |
(former
name or former mailing address, if changed since last report) |
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
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Written communications 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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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 (§ 230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company [X]
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. [ ]
“We”, “Us”, and or “The Company”
refer to WB Burgers Asia, Inc., a Nevada Corporation.
5.03
Amendments to Articles of Incorporation or Bylaws.
Our
majority shareholder, White Knight Co., Ltd., and Koichi Ishizuka, our sole Officer and Director, executed a resolution to ratify, affirm,
and approve to file an Amended and
Restated Certificate of Incorporation.
The Amended
and Restated Certificate of Incorporation was filed with the Nevada Secretary of State on August 17, 2023, effective
immediately.
The
Amended and Restated Certificated of Incorporation resulted in an increase to the authorized shares of our Common Stock from One
Billion Five Hundred Million (1,500,000,000) to Five Billion (5,000,000,000). It also revised the rights of Series A Preferred Stock, now allowing each one (1) share of
Series A Preferred Stock to be converted into one thousand (1,000) shares of Common Stock at the discretion of the holder(s) of
Series A Preferred Stock.
A
full copy of the Amended and Restated Certificate of Incorporation is attached herein as Exhibit 3.1.
Item
8.01 Other Events.
On
August 18, 2023, our majority shareholder, White Knight Co., Ltd., a Japanese Company, owned and controlled by our sole Officer and
Director, Koichi Ishizuka, elected to convert its 1,000,000 shares of Series A Preferred Stock of WB Burgers Asia, Inc. into shares of Common Stock. This conversion has been approved by the Company, and the conversion became effective on
August 18, 2023. Every 1 share of Series A Preferred Stock was converted into 1,000 shares of Common Stock, for a total of
1,000,000,000 shares of Common Stock.
Following
the above conversion, and as of August 18, 2023, there were 2,071,153,462 shares of Common Stock and 0 shares of Preferred
Stock issued and outstanding.
The
Conversion Agreement and Notice of Conversion are attached herein as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, as amended, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly
authorized.
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WB Burgers Asia, Inc. |
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Dated:
August 21, 2023 |
/s/ Koichi Ishizuka |
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Koichi Ishizuka
Chief Executive Officer |
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AMENDED AND RESTATED
CERTIFICATE OF INCORPORATION
OF
WB BURGERS ASIA, INC.
The undersigned, Koichi Ishizuka, as Director of WB
Burgers Asia, hereby certifies that:
1. He is the Director of WB Burgers Asia, Inc., a
Nevada Corporation.
2. The Certificate of Incorporation of this corporation
was originally filed with the Secretary of State of Nevada on August 30, 2019 under the name Business Solutions Plus, Inc. The Certificate
of Incorporation was first restated on February 9, 2021, and was subsequently amended on July 1, 2021, and July 2, 2021.
3. The Amended and Restated Certificate of Incorporation
of the corporation which restates, integrates and further amends the provisions of the Certificate of Incorporation of this corporation
as heretofore amended and/or restated, has been duly adopted by the corporation’s Board of Directors in accordance with NRS 78.315,
NRS 78.380, and NRS 78.403 with and by written consent without a meeting in accordance with Nevada Revised Statutes, (“NRS”).
4. The Certificate of Incorporation of this corporation
shall be amended and restated to read in full as follows:
ARTICLE I
NAME
The name of the Corporation shall be WB Burgers Asia, Inc.
ARTICLE II PERIOD OF DURATION
The Corporation shall exist in perpetuity from and
after the date of filing these Articles of Incorporation with the Secretary of State of the State of Nevada unless dissolved according
to law.
ARTICLE III PURPOSES AND POWERS
1. Purposes Except as restricted by these Articles
of Incorporation, the Corporation is organized for the purpose of transacting all lawful business for which corporations may be incorporated
pursuant to the Nevada Business Corporation Act.
2. General Powers Except as restricted by these
Articles of Incorporation, the Corporation shall have and may exercise all powers and rights which a corporation may exercise legally
pursuant to the Nevada Business Corporation Act.
3. Issuance of Shares The board of directors
of the Corporation may divide and issue any class of stock of the Corporation in series pursuant to a resolution properly filed with the
Secretary of State of the State of Nevada.
ARTICLE IV
CAPITAL STOCK
The total number of shares of capital stock which
the Corporation shall have authority to issue is: Five Billion Two Hundred Million (5,200,000,000). These shares shall be divided into
two classes with Five Billion (5,000,000,000) shares designated as common stock at $0.0001 par value (the "Common Stock") and
two hundred million (200,000,000) shares designated as preferred stock at $0.0001 par value (the "Preferred Stock").
Designation of Preferred Series A Stock. One
Million (1,000,000) shares of the Company’s preferred stock shall be designated as Series A Preferred Stock, $0.0001 par value per
share. Initially, there will be no dividends due or payable on the Series A Preferred Stock. Holders of Series A Preferred Stock shall
have the right to convert every share of Series A Preferred into One Thousand (1,000) Common Shares of the Corporation. Series A Stock
may be converted at any time, at the sole discretion of the holder of Series A Preferred Stock. Each one share of the Series A Preferred
Stock shall have voting rights equal to one thousand (1,000) votes of Common Stock. With respect to all matters upon which stockholders
are entitled to vote or to which stockholders are entitled to give consent, the holders of the outstanding shares of Series A Preferred
Stock shall vote together with the holders of Common Stock without regard to class, except as to those matters on which separate class
voting is required by applicable law or the Corporation’s Certificate of Incorporation or by-laws.
Preferred Stock. The Preferred Stock of the
Corporation shall be issuable by authority of the Board of Director(s) of the Corporation in one or more classes or one or more series
within any class and such classes or series shall have such voting powers, full or limited, or no voting powers, and such designations,
preferences, limitations or restrictions as the Board of Directors of the Corporation may determine, from time to time. The authority
of the Board of Directors with respect to each class or series shall include all designation rights conferred by Nevada Laws upon directors,
including, but not limited to, determination of the following:
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(a) |
The number of shares constituting of that class or series and the distinctive designation of that class or series; |
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(b) |
The dividend rate on the share of that class or series, whether dividends shall be cumulative, and, if so, from which date or dates, and the relative rights or priorities, if any, of payment of dividends on shares of that class or series; |
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(c) |
Whether the shares of that class or series shall have conversion privileges, and, if so, the terms and conditions of such privileges, including provision for adjustment of conversion rate(s) in relation to such events as the Board of Directors shall determine; |
(d) Whether the shares of that class
or series shall be redeemable, and, if so, the terms and conditions of such redemption, including the date or dates upon or
after which amount they shall be redeemable, and the amount per share payable in case of redemption, which amount may vary under
different conditions and at different redemption dates;
(e) Whether there shall be a sinking
fund for the redemption or purchase of shares of that class or series, and, if so, the terms and amount of such sinking fund;
(f) The rights of the shares of
that class or series in the event of voluntary or involuntary liquidation, dissolution or winding up of the Corporation, and the
relative rights of priority, if any, of payment of shares of that class or series; and
(g) Any other relative rights, preferences
and limitations of that class or series now or hereafter permitted by law.
Holders of shares of Common Stock shall be
entitled to cast one vote for each share held at all stockholders' meetings for all purposes, including the election of directors.
The Common Stock does not have cumulative voting rights.
No holder of shares of stock of any class or
series shall be entitled as a matter of right to subscribe for or purchase or receive any part of any new or additional issue of
shares of stock of any class or series, or of securities convertible into shares of stock of any class or series, whether now
hereafter authorized or whether issued for money, for consideration other than money, or by way of dividend.
ARTICLE V ELECTION OF DIRECTORS
The election of directors need not be by written ballot
unless the by-laws of the Corporation shall so provide.
ARTICLE VI INDEMNIFICATION
The Corporation is authorized to provide indemnification
of its directors, officers, employees and agents whether by bylaw agreement, vote of shareholders or disinterested directors or otherwise,
in excess of the indemnification expressly permitted by Section 78.751 of the Nevada Business Corporation Act for breach of duty to the
Corporation and its shareholders subject only to the applicable limits upon such indemnification as set forth in the Nevada Business Corporation
Act. Any repeal or modification of this Article VI or Article X shall not adversely affect any right or protection of a director or officer
of the Corporation existing at the time of such repeal or modification.
ARTICLE VII ADOPTION AND AMENDMENT OF BYLAWS
The initial Bylaws or the Corporation shall be adopted
by its board of directors. Subject to repeal or change by action of the shareholders, the power to alter, amend or repeal the Bylaws or
adopt new Bylaws shall be vested in the board of directors. The Bylaws may contain any provisions for the regulation and management of
the affairs of the Corporation not inconsistent with law or these Articles of Incorporation.
ARTICLE VIII RESIDENT AGENT
The name of the Corporation's resident agent and the street address is
Registered Agents Inc., 401 Ryland St Ste 200- A, Reno, NV 89502.
The resident agent may be changed in the manner permitted by law.
ARTICLE IX INITIAL BOARD OF DIRECTORS
The number of directors of the Corporation shall be
fixed by the Bylaws of the Corporation, and the number of directors of the Corporation may be changed from time to time by consent of
the Corporation's directors. The initial board of directors of the Corporation shall consist of one (1) director. The name and address
of the person who shall serve as director until the first annual meeting of shareholders and until his successor(s) are elected and shall
qualify is:
Koichi Ishizuka
3F K’s Minamiaoyama
6-6-20 Minamiaoyama, Minato-ku
Tokyo, Japan
ARTICLE X LIMITATION OF LIABILITY OF DIRECTORS AND
OFFICERS TO CORPORATION AND SHAREHOLDERS
No director or officer shall be liable to the Corporation
or any shareholder for damages for breach of fiduciary duty as a director or officer, except for any matter in respect of which such director
or officer (a) shall be liable under Section 78.300 of the Nevada Business Corporation Act or any amendment thereto or successor provision
thereto or (b) shall have acted or faded to act in a manner involving intentional misconduct fraud or a knowing violation of law. Neither
the amendment nor repeal of this Article, nor the adoption of any provision in the Articles of Incorporation inconsistent with this Article,
shall eliminate or reduce the effect of this Article in respect of any matter occurring prior to such amendment, repeal or adoption of
an inconsistent provisions. This Article shall apply to the full extent now permitted by Nevada law or as may be permitted in the future
by changes or enactments in Nevada law, including without limitation Section 78.300 and/or the Nevada Business Corporation Act.
IN WITNESS WHEREOF, the
Amended and Restated Certificate of Incorporation has been duly adopted and ratified by this corporation’s Board of Directors in
accordance with the applicable provisions of NRS 78.315, NRS 78.380, and NRS 78.403 and signed by its duly authorized officer this 17th
day of August 2023.
WB BURGERS ASIA, INC.
By: /s/ Koichi Ishizuka
Name: Koichi Ishizuka
Title: President and Chief Executive Officer
CONVERSION AGREEMENT
THIS CONVERSION AGREEMENT (this “Agreement”)
is made and entered into as of August 18, 2023, between WB Burgers Asia, Inc., a Nevada Corporation (“WBBA”), and the undersigned
holder (“Holder”) of shares of WBBA’s Series A Preferred Stock, $0.0001 par value per share (the “Preferred Stock”).
RECITALS
WHEREAS, the shares of Preferred Stock held
by Holder are convertible into shares of WBBA’s common stock, $0.0001 par value per share (the “Common Stock”), at the
option of Holder, pursuant to, and subject to the limitations set forth in, the Restated Articles of Incorporation of WBBA filed with
the Nevada Secretary of State on August 17, 2023;
WHEREAS, the shares of Preferred Stock are
entitled to certain conversion rights as set forth in the Restated Articles of Incorporation of WBBA; and
WHEREAS, Holder and WBBA desire to enter into
this Agreement to provide for the conversion of all shares of the Series A Preferred Stock held by Holder. Each one share of Series A
Preferred Stock of WBBA is convertible into one thousand shares of Common Stock of WBBA;
NOW, THEREFORE it is hereby acknowledged, the
parties hereto hereby agree as follows:
1. Election to Convert.
a. Holder hereby elects to convert all shares of
Series A Preferred Stock held by Holder into shares of Common Stock in accordance with Article IV of the WBBA Restated Articles of Incorporation.
b. The conversion of shares of Series A Preferred
Stock contemplated hereby shall be effective on August 18, 2023 (the “Effective Date”).
2. Issuance of shares of Common Stock.
WBBA shall cause to be recorded, by the Company’s transfer agent, in book entry, the shares of Common Stock issuable upon conversion
of the shares of the Series A Preferred Stock held by Holder being converted hereby as soon as practicable after the Effective Date.
3. Restricted Securities. Holder
hereby understands, acknowledges and agrees that the shares of Common Stock issuable upon conversion of the shares of the Series A Preferred
Stock Series held by Holder being converted hereby shall constitute “restricted securities” within the meaning of the Securities
Act of 1933, as amended, and may only be disposed of in compliance with state and federal securities laws. The certificates representing
such shares of Common Stock shall bear a legend to such effect.
4. Further Assurances. Each of Holder
and WBBA agrees that it will make, execute, and deliver any and all such other instruments, instructions and documents and will do and
perform any and all such further acts as shall become necessary, proper, or convenient to carry out or effectuate the respective covenants,
promises and undertakings set forth herein.
5. Enforceability. If and to the
extent any provision herein is held invalid or unenforceable at law, then such provision will be deemed stricken from this Agreement and
the remainder of the Agreement will continue in effect and be valid and enforceable to the fullest extent permitted by law.
6. Governing Law. This Agreement shall
be deemed executed in the State of Nevada and is to be governed by and construed under Nevada law, without regard to its choice of law
provisions.
7. Entire Agreement. This Agreement (along
with the Conversion Notice) is the entire Agreement between Holder and WBBA and may not be modified or amended except by a written instrument
signed by each of Holder and WBBA. Each of Holder and WBBA has read this Agreement, understands it and agrees to be bound by its terms
and conditions. There are no understandings with respect to the subject matter hereof, express or implied, that are not stated herein.
This Agreement may be executed in counterparts, and signatures exchanged by facsimile or other electronic means are effective for all
purposes hereunder to the same extent as original signatures.
IN
WITNESS WHEREOF, each of the parties hereto has executed and delivered this Agreement or caused this Agreement to be executed and
delivered by its duly authorized representative, all as of the day and year first written above.
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HOLDER: |
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WB
BURGERS ASIA, INC. |
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Signature: |
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/s/
Koichi Ishizuka
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By: |
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/s/ Koichi Ishizuka
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Koichi
Ishizuka |
Print |
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Its: |
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Chief
Executive Officer and Director |
Name: |
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White Knight
Co., Ltd.
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Title: |
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CEO |
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(if
Holder is not a Natural Person) |
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1
CONVERSION
NOTICE
Reference is made to this certain Conversion Notice dated as of August
18, 2023 (the “Conversion Notice”), between the undersigned (“Holder”) and WB Burgers Asia, Inc., a Nevada corporation
(“WBBA”). Capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to such terms as
set forth in the Conversion Agreement.
Holder hereby elects to convert, as of the Effective Date, all shares of
Series A Preferred Stock held by Holder into shares of Common Stock in accordance with the terms of the WBBA’s Restated Articles
of Incorporation filed with the Nevada Secretary of State on August 17, 2023. Such shares of Common Stock issuable in connection with
this Conversion Notice and the Conversion Notice (the “Shares”) shall be issued in the name of the Holder, and recorded by
the Company’s transfer agent in book-entry format.
Holder hereby represents and warrants to WBBA
that Holder is an “accredited investor” under Rule 501(a) promulgated under the Securities Act of 1933, as amended (the “Securities
Act”).
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HOLDER: |
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Signature: |
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/s/ Koichi Ishizuka
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Print Name: |
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White
Knight Co., Ltd.
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Title: |
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CEO
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(if
Holder is not a Natural Person) |
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