Arkados Group, Inc. (OTCMKTS:AKDS) Files An 8-K Financial Statements and ExhibitsItem 9.01(a)(1) and the pro forma financial information required by Item 9.01(b)(1) of Form 8-K of Solbright Renewable Energy, LLC, whose business was acquired by the Company on May 1, 2017, as fully described in the Amended Form 8-K (the “Asset Purchase”).
Except as described above, this Form 8-K/A does not modify or update disclosure in, or exhibits to, the Amended Form 8-K. This Current Report on Form 8-K/A continues to describe conditions as of the date of the filing of the Original Form 8-K, and the disclosures contained herein have not been updated to reflect events, results or developments that have occurred after the filing of the Original Form 8-K, or to modify or update those disclosures affected by subsequent events.
Item 9.01 Financial Statement and Exhibits
| (a) | Financial statements of business acquired. |
See Exhibit 99.1
| (b) | Pro forma financial information. |
See Exhibit 99.2
| Exhibit No. |
Description |
| 2.1 | Asset Purchase Agreement by and between the Company and SolBright Renewable Energy, LLC dated May 1, 2017 (incorporated by reference from the Registrant’s Current Report on Form 8-K filed on May 5, 2017) |
| 10.1 | 15% Secured Promissory Note issued to SolBright Renewable Energy, LLC dated May 1, 2017 (incorporated by reference from the Registrant’s Current Report on Form 8-K filed on May 5, 2017) |
| 10.2 | Convertible Promissory Note issued to SolBright Renewable Energy, LLC dated May 1, 2017 (incorporated by reference from the Registrant’s Current Report on Form 8-K filed on May 5, 2017) |
| 10.3 | Note Purchase Agreement by and among the Company, AIP Asset Management Inc. and the Holders identified therein dated May 1, 2017 (incorporated by reference from the Registrant’s Current Report on Form 8-K filed on May 5, 2017) |
| 10.4 | Form of 10% Secured Convertible Note dated May 1, 2017 (incorporated by reference from the Registrant’s Current Report on Form 8-K filed on May 5, 2017) |
| 10.5 | SecurityAgreement by and among Company, its Subsidiaries and AIP Management Inc. dated May 1, 2017 (incorporated by reference from the Registrant’s Current Report on Form 8-K filed on May 5, 2017) |
| 10.6 | Registration Rights Agreement by and between the Company and the investors identified therein dated May 1, 2017 (incorporated by reference from the Registrant’s Current Report on Form 8-K filed on May 5, 2017) |
| 10.7 | Form of Warrant dated May 1, 2017 (incorporated by reference from the Registrant’s Current Report on Form 8-K filed on May 5, 2017) |
| 10.8 | Form of Securities Purchase Agreement by and between the Company and the Buyer identified therein dated May 1, 2017 (incorporated by reference from the Registrant’s Current Report on Form 8-K filed on May 5, 2017) |
| 10.9 | Form of Promissory Note dated May 1, 2017 (incorporated by reference from the Registrant’s Current Report on Form 8-K filed on May 5, 2017) |
| 10.10 | Form of Securities Purchase Agreement by and between the Company and certain accredited investors dated April 6, 2017 (incorporated by reference from the Registrant’s Form 10-Q filed on April 21, 2017) |
| 99.1 | Financial Statements and Report of Independent Registered Public Accounting Firm of SolBright Renewable Energy, LLC |
| 99.2 | Pro Forma financial Statements (unaudited) for Arkados Group, Inc. and Subsidiaries |
ARKADOS GROUP, INC. ExhibitEX-99.1 2 s107557_ex99-1.htm SOLBRIGHT RENEWABLE ENERGY,…To view the full exhibit click here
About Arkados Group, Inc. (OTCMKTS:AKDS)
Arkados Group, Inc. conducts its business activities through two subsidiaries, Arkados, Inc. (Arkados) and Arkados Energy Solutions, LLC (AES). The Company’s segments include Arkados and AES. Arkados is engaged in offering software and hardware design and developing solutions that enable machine to machine communications for the Internet of Things (IoT). Arkados’ solutions support smart grid and smart building applications primarily in the areas of building automation and energy management and are designed to drive a range of wireless and powerline communication (PLC)-based products, such as sensors, gateways, video cameras, appliances and other devices. AES focuses on the design, installation and maintenance of energy solutions for both residential and commercial customers. AES implements smart grid applications primarily in the areas of light-emitting diode (LED) lighting, building automation and energy management.