1PM INDUSTRIES, INC. (OTCMKTS:OPMZ) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
To the extent required by Item 1.01 of Form 8-K, the information contained or incorporated in Item 8.01(a) of this Form 8-K is incorporated by reference in this Item 1.01.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
To the extent required by Item 5.03 of Form 8-K, the information contained or incorporated in Item 8.01(a) of this Form 8-K is incorporated by reference in this Item 5.03.
Item 8.01. Other Information
| (a) | On January 30, 2018, the Company increased the number of authorized common shares to 6 billion (6,000,000,000). This increase was done as part of a settlement with Vista Capital. The Company agreed to issue 750 million shares with an initial tranche of 260 million issued at execution of the settlement agreement. Vista Capital agreed to release the Company from the outstanding note of $75,300 plus the warrants (approximately 1 billion warrants were outstanding). As a result, the note with Vista Capital has been satisfied in full. |
| (b) | On January 31, 2018, EMA Financial converted 131,000,000 shares of common stock in exchange for $4,420 plus additional principal of $7,860. The remaining balance on the note is $11,936. |
| (c) | The Company was retained to facilitate the reverse merger between Naerodynamics, Inc. and Nate’s Essentials. Which was completed. The company was compensated a non-dilutive 9.9% equity stake in the new merged company. |
| (d) | The Company has been retained by Elder Care Associates to facilitate a reverse merger with Graystone Co., the Company has been retained by AM Entertainment to facilitate a reverse merger, Company has been retained by Vortex Brands to facilitate a reverse merger with Block Chain Energy or a similar company, the Company has begun working on the cleaning up SouthCorp Capital for possible reverse merger, the Company has been retained by Embarr Downs to facilitate a reverse merger as well. |
The Company has been engaged by AM Entertainment. The client creates and distributes television programming. The initial project the client is developing is a 24/7 online news channel dedicated to cryptocurrencies.
About 1PM INDUSTRIES, INC. (OTCMKTS:OPMZ)
1pm Industries, Inc., formerly Torrent Energy Corp., is focused on the sale and distribution of medical marijuana under the brand Von Baron Farms. The Company sells various products, including Cookie Spread, Peanut Butter, CBD Cookie Spread, CBD Mango Shot, THC Shot, Combo Shot, and Pancake and Waffle Batter. The Company distributes its Von Baron Farms product at www.vonbaronfarms.com. The Company sells its products in approximately 40 dispensaries. The Company is also in the process of selling its Von Baron Farms product line in non-medical marijuana product line through Amazon and eBay. It is also engaged in the development of a CBD product line. The Company developed a line health and wellness products under the NewGenica brand. The Company developed four products under this brand, including AquaTrim, DreamTrim, Eat & Trim and D-Tox 15. The Company purchases the products from a third-party manufacturer who private labels health and wellness products.