Current Report Filing (8-k)
October 23 2018 - 02:44PM
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
October
22, 2018
Date
of Report (Date of earliest event reported)
SUNSTOCK,
INC.
(Exact
name of registrant as specified in its charter)
000-54830
(Commission
File Number)
Delaware
|
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46-1856372
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(State
or other jurisdiction of incorporation)
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(I.R.S.
Employer Identification No.)
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111
Vista Creek Circle, Sacramento, CA
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95835
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(Address
of principal executive offices)
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(Zip
Code)
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916-860-9622
(Registrant’s
telephone number, including area code)
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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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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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))
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ITEM
1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On
October 22, 2018, Sunstock, Inc. acquired all issued and outstanding shares of common stock of Mom’s Silver Shop, Inc. of
Sacramento, California for the purchase price of $241,000. Included in the assets acquired is approximately $60,000 in precious
metals inventory. Also included are any machinery, furniture and fixtures, leasehold improvements, licenses and permits, customer
lists, logo, trade names, signs, and websites. Financing of the purchase is by a $10,000 deposit, $33,000 unsecured note payable
with principle payments of $1,000 per week for 33 weeks starting January 1, 2019 with 4.5% annual interest accrued on the unpaid
balance (total accrued interest due August 27, 2019), and the assumption of liabilities and lease obligations in the aggregate
of approximately $198,000.
Mom’s
Silver Shop had unaudited net revenues of approximately $4,800,000 for the year ended December 31, 2015, $4,000,000 for the
year ended December 31, 2016, and $3,800,000 for the year ended December 31, 2017.
Mom’s
Silver Shop specializes in buying and selling gold, silver, and rare coins, and is one of the leading precious metals retailers
in the greater Sacramento metropolitan area.
ITEM
9.01 FINANCIAL STATEMENTS AND EXHIBITS
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.
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SUNSTOCK,
INC.
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Date:
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October
23, 2018
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By:
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/s/
Jason C. Chang
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Name:
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Jason
C. Chang
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Title:
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President,
Chief Financial Officer
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(
Principal
Executive and Accounting Officer)
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