Makh Group Corp Just Filed Its Quarterly Report: NOTE 9 – SUBSEQUENT ...

NOTE 9 – SUBSEQUENT EVENTS

 

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to March 31, 2021 to the date these financial statements were issued.

 

Effective April 27, 2021 (the “Closing Date”), AllyMe Group, Inc. (the “Company”), entered into that certain Asset Purchase Agreement (the “Asset Purchase Agreement”) with NEXT-ChemX Corporation (“NEXT-ChemX”), pursuant to the Company acquired certain intellectual property assets of NEXT-ChemX, specifically certain patents and patent applications, in exchange for the issuance of an aggregate of 23,844,448 shares of common stock of the Company (the “APA Issuance”).

 

On April 27, 2021, Zilin Wang, the previous majority shareholder of the Company, entered into a stock purchase agreement for the sale of 8,618,000 shares of Common Stock of the Company, to Arastou Mahjoory and Kenneth Mollicone, each an accredited investor, in equal parts. Following transfer of such shares to Messrs. Mahjoory and Mollicone, each has agreed to cancel an aggregate of 5,418,000 shares of common stock of the company.

 

Messrs. Mahjoory and Mollicone also entered into stock purchase Agreements with selling shareholders to acquire an additional 322,989 shares of common stock from several minority shareholders of the Company.

 

As of June 1, 2021, an aggregate of 32,803,437 shares of common stock are outstanding, which reflect the issuance of the APA Issuance, which results in NEXT-ChemX holding approximately 72.7% of the issued and outstanding shares of Common Stock of the Company. However, after giving effect to (i) the acquisition of approximately 8,940,989 shares of common stock by Messrs. Mahjoory and Mollicone, and (ii) the cancellation of 5,418,000 shares by by Messrs. Mahjoory and Mollicone, the total shares outstanding will be 27,385,437. Also after giving effect to the acquisition and cancellation of shares by Messrs. Mahjoory and Mollicone, : (a) NEXT-ChemX will hold approximately 87.07% of the issued and outstanding shares of Common Stock of the Company, and as such it is able to unilaterally control the election of our board of directors, all matters upon which shareholder approval is required and, ultimately, the direction of our Company, and (b) Messrs. Mahjoory and Mollicone will each hold approximately 6.44% of the issued and outstanding shares of Common Stock of the Company, and (c) the total shares outstanding will be 27,385,437.

 

Also on April 27, 2021, the previous sole officer and director of the company, Zicheng Wang, resigned his positions with the Company. Upon such resignation Benton Wilcoxon was appointed as Chief Executive Officer, and Chairman of the Board, and J. Michael Johnson was appointed President, Treasurer and Secretary, and Director of the Company.

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 Makh Group Corp makes a similar move, sign up!

Other recent filings from the company include the following:

Departure of Directors or Certain - Sept. 20, 2021

Auto Refresh

Feedback