On May 10, 2017, the Company closed an Asset Purchase Agreement (the "Agreement") signed February 10, 2017 with 3D Pioneer Systems Inc. ("3D"). Pursuant to the Agreement, Adaiah acquired certain intellectual property, apps, other assets and related contractual rights held by 3D in exchange for 1 million shares of Adaiah's common stock and a cash payment of $30,000, along with an obligation to make three (3) additional payments of $30,000 every ninety (90) days following the closing. The assets of 3D include intellectual property for 3D printer development, a project for the development of a 3D printing platform and marketplace and the first app, of a series of children's apps, called Save Your Planet Kids.
The Company has evaluated events subsequent to the date these financial statements have been issued to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that other than the event disclosed above, no other subsequent events occurred that require recognition or disclosure in the financial statements.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
To receive a free e-mail notification whenever Adaiah Distribution Inc. makes a similar move, sign up!
Other recent filings from the company include the following: