EXPERIENCE ART AND DESIGN, INC. (OTCMKTS:EXAD) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01Entry into a Material Definitive Agreement
On July 10, 2017 we entered into an Management Service Agreement with Bahamas Development Corporation (“BDCI”) to assume managerial responsibilities for its Performance Wear subsidiary. Under the terms of this Agreement, EXAD will begin booking 50% of the revenue generated by the subsidiary retaining all Net income as of July 1, 2017.
ITEM 7.01 Regulation FD Disclosure
On July 12, 2017 the Company issued a Press Release pertaining to its Management Service Agreement entered into with Bahamas Development Corporation. A copy of this release is furnished as Exhibit 99.1 attached to this report. The Company elects to disclose the information in the press releases
furnished to Regulation FD. The exhibits to this report relating to this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, and are not incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
ITEM 9.01Financial Statements and Exhibits
10.1Management Service Agreement dated as of July 10, 2017
99.1Press Release date July 10, 2017.
EXPERIENCE ART & DESIGN, INC. ExhibitEX-99 2 ex991071217.htm MANAGEMENT SERVICES AGREEMENT MANAGEMENT SERVICES AGREEMENT This MANAGEMENT SERVICES AGREEMENT is entered into as of this 10th day of July,…To view the full exhibit click
About EXPERIENCE ART AND DESIGN, INC. (OTCMKTS:EXAD)
Experience Art and Design, Inc. is a development-stage company. The Company is focused on two primary business models: the re-work of existing oil wells and dry cleaners, through two subsidiary companies: TransAmerican Oil and Metropolitan Dry Cleaners respectively. TransAmerican Oil is an oil and gas company, pursuing either producing turnkey oil wells, or developing fresh oil wells on producing leases within the Continental United States. The properties in which TransAmerican Oil is pursuing interests, are in various stages of development. TransAmerican is focused on the exploration, development and production of properties geographically located in the Continental United States. Metropolitan Dry Cleaners provide dry cleaning, laundry, and garment alteration services, along with regular home pick-up and delivery services. Metropolitan Dry Cleaners will have both production facilities and retail storefronts to complement its pick-up and delivery service.