Current Report Filing (8-k)
August 17 2021 - 08:31AM
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 Exchange Act of
1934
Date
of Report (Date of earliest event reported): August 11,
2021
SUGARMADE, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
000-23446 |
|
94-3008888 |
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(IRS
Employer
Identification
No.)
|
750
Royal Oaks Dr., Suite 108
Monrovia,
CA
|
|
91016 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (888)
982-1628
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):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
N/A |
|
N/A |
|
N/A |
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 ☐
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.
On
August 11, 2021, SWC Group,
Inc. (“SWC”), a California corporation and wholly-owned subsidiary
of Sugarmade, Inc. (the “Company’’) consummated the purchase
of an approximately 1,175 square foot property on 6,750 of land
located at 5058 Valley Blvd., Los Angeles, CA 90032 (the “Real
Property”) from Paredes Diana K Tr / Shalom Trust (“Seller”) for a
total purchase price of $830,000 (the “Purchase Price”).
The
purchase was made pursuant to the terms of that certain Standard
Offer, Agreement and Escrow Instructions for Purchase of Real
Estate (Non-Residential) (the “Purchase Agreement”) dated June 11,
2021, included as Exhibit 10.1 to the Company’s Current Report on
Form 8-K filed with the SEC on June 17, 2021 and described therein.
The description of the Purchase Agreement contained herein is
qualified by reference to the terms of the Purchase Agreement
itself, as well as the description of the Purchase Agreement in the
Company’s Current Report on Form 8-K filed with the SEC on June 17,
2021, which is incorporated herein by reference into this Item
2.01.
As
previously disclosed by the Company in its Current Report on 8-K
filed June 10, 2021, the Company entered into a binding Memorandum of
Understanding (the “MOU”) with other individuals with the goal of
obtaining up to three (3) Los Angeles Dept. of Cannabis
Regulation (“DCR”) retail delivery-only licenses and related
California Bureau of Cannabis Control (“BCC”) licenses as required
(each, a “License”, and collectively, the “Licenses”). Once
obtained, the Company intends to assign one of these licenses to
this newly acquired property, designated as a licensed cannabis
delivery business under its “Nug Avenue” brand.
Item 7.01 Regulation FD Disclosure.
On
August 17, 2021, the Company issued a press release providing an
update on the consummation of the purchase of the Real Property
described under Item 2.01 of this Current Report. A copy of the
press release is attached as Exhibit 99.1 to this Current Report on
Form 8-K.
The
information included in this Item 7.01, including Exhibit 99.1,
shall not be deemed to be “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”),
or otherwise subject to the liabilities of that section, nor shall
such information be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in
such a filing. The information set forth under this Item 7.01 shall
not be deemed an admission as to the materiality of any information
in this Current Report on Form 8-K that is required to be disclosed
solely to satisfy the requirements of Regulation FD.
Item
9.01 Financial Statement and Exhibits.
(d)
Exhibits
The
following exhibits are filed or furnished with this Current Report
on Form 8-K:
SIGNATURES
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 hereunto duly authorized.
|
SUGARMADE,
INC. |
|
|
|
Date:
August 17, 2021 |
By: |
/s/
Jimmy Chan |
|
Name: |
Jimmy
Chan |
|
Title: |
Chief
Executive Officer and Chief Financial Officer |
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