GLOBAL EQUITY INTERNATIONAL, INC. (OTCMKTS:GEQU) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On June 5, 2017, Global Equity International, Inc. (GEI) entered
into and closed a Stock Purchase Agreement, to which GEI sold
100% of the common stock of one of GEIs wholly-owned
subsidiaries, Global Equity Partners Plc., to Mr. Panithan
Namsak, a citizen of the Kingdom of Thailand.
Mr. Namsak is not an affiliate of GEI.
Item 2.01 Completion of Acquisition or Disposition of
Assets.
On June 5, 2017, Global Equity International, Inc. (GEI) entered
into and closed a Stock Purchase Agreement, to which GEI sold
100% of the common stock of one of GEIs wholly-owned
subsidiaries, Global Equity Partners Plc., to Mr. Panithan
Namsak, a citizen of the Kingdom of Thailand.
Mr. Namsak is not an affiliate of GEI.
Global Equity Partners Plc (GEP) owned various assets comprised
of common shares in the following entities:
| 2,000,000 common shares of M1 Lux AG | ||
| 1,500,000 common shares of Monkey Rock Group | ||
| 3,200,000 common shares of Voz Mobile Limited | ||
| 3,000,000 common shares of Arrow Cars International Inc. | ||
| 400,000 common shares of Direct Security Integration Inc. | ||
| 600,000 common shares of Primesite Developments Inc. | ||
The book value of the above shares on the consolidated balance
sheet of GEI and its subsidiaries was $603,000.
The consideration for the purchase of GEP by Mr. Panithan was his
assumption of all liabilities and indebtedness of GEP in the
approximate amount of $626,052. No cash consideration was paid to
GEI by Mr. Namsak.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits See Exhibit Index set forth below.
to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
| Dated: June 8, 2017 | ||
| GLOBAL EQUITY INTERNATIONAL, INC. | ||
| By: | /s/ Peter J. Smith | |
| Peter J. Smith | ||
| Chief Executive Officer | ||
EXHIBIT INDEX
List of Exhibits attached or incorporated by reference
About GLOBAL EQUITY INTERNATIONAL, INC. (OTCMKTS:GEQU)
Global Equity International, Inc. through Global Equity Partners Plc (GEP) and its subsidiary GE Professionals DMCC, provides consulting services, such as corporate restructuring, advice on management buy outs, management recruitment and development for corporate marketing, investor and public relations, regulatory compliance and introductions to financiers, to companies desiring to be listed on stock exchanges in various parts of the world. The Company’s operations are limited to insuring compliance with regional, state and national securities regulatory agencies and organizations. The Company advices and assists its clients in determining the corporate structure, which is suitable to their business models. The Company recommends management changes as per necessity. The Company also offers corporate governance models customized to specific organizations and desired exchange listings. The Company reviews and analyzes balance sheets and capital structures.
