On February 15, 2017, Adaiah Distribution Inc. (the Company or Adaiah) entered into an Asset Purchase Agreement with 3D Pioneer Systems, Inc., a Nevada corporation (3D) to acquire all of 3Ds intellectual property, apps, other assets and all related contractual rights used in connection with such property (the Assets). The acquisition will be accomplished by issuing 1 million shares of the Companys common stock to 3D and paying a total of $120,000, in equal quarterly payments, with the first payment to be made the closing of the Asset Purchase Agreement.
3Ds apps are designed to educate young children (starting at 2 years old) about the environment, natural resources and how to make decisions that are consistent with green or save your plant initiativ es. These applications teach children to respect the planet in a fun and engaging manner, utilizing music, caricatures, numerous colors and graphic art. Utilization of the apps allows children to be creative as they paint pictures from the main application or freely from their own mind and fantasies. The apps also help children to learn to play music in a fun and interactive manner.
The apps are currently available on smartphones operating on the Android platform.
The acquisition of the Assets is subject to completion of due diligence by Adaiah. The parties anticipate being able to complete the acquisition by March 1, 2017.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
Asset Purchase Agreement, between Adaiah Distribution Inc. and 3D Pioneer Systems, Inc., dated February 15, 2017.
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.
ADAIAH DISTRIBUTION INC.
DATE: February 15, 2017
/s/ Nikolay Titov
President, Chief Executive Officer, Chief Financial Officer
makes a similar move, sign up!
Other recent filings from the company include the following: