GME Innotainment, Inc. (OTCMKTS:GMEV) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Unregistered Sales of Equity
On April 20, 2016, the Company entered a Contract for Purchase of
Assets and Liabilities with Kwong Kwan Yin Roy through which the
Company sold to buyer the assets of Super China Global Limited, a
British Virgin Islands Company and a wholly-owned subsidiary of
the Company. In exchange for the receipt of the assets, Mr. Kwong
assumed all the liabilities of subsidiary.
Item 2.01 Unregistered Sales of
On April 20, 2016, the Contract for Purchase of Assets and
Liabilities as described in Item 1.01 was closed.
Item 3.02 Unregistered Sales of
On May 22, 2017, GME issued 25,000,000 shares Lisa Demmons as
partial compensation for her acting as Chief Executive Officer
and Director. These shares were issued to an exemption from the
registration requirements of the Securities Act of 1933, as
amended to Section 4(a)(2) of the Act and/or Rule 506 of
Regulation D promulgated thereunder since, among other things,
the transactions did not involve a public offering.
Item 5.01 Changes in Control of
On MARCH 29, 2016, Lisa Demmons acquired 18,755,932 shares of
stock from Kwong Kwan Yin Roy for a promissory note in the amount
of $25,000. Based on 26,433,094 outstanding shares of common
stock, this transaction resulted in Ms. Demmons having a 65.97%
of outstanding shares and voting rights.
Item 5.02 Departure of
Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain
On March 29, 2016, Kwong Kwan Yin Roy resigned as Chief Executive
Officer, Chief Financial Officer, and Director. Mr. Kwongs
resignation letter is attached hereto as Exhibit 17.1.
On March 29, 2016, Yum Ka Yan resigned as Director. Mr. Yums
resignation letter is attached hereto as Exhibit 17.2.
On March 29, 2016, a majority voting block of shareholders
appointed and elected Lisa Demmons as Chief Executive Officer and
Director, respectively. Before becoming GMEs CEO, Ms. Demmons,
who is 47 years old, worked as an attorney in Salt Lake City,
Utah. In 1998, Ms Demmons earned her Juris Doctor from Willamette
University. In 2000, Ms. Demmons earned a Masters Degree in
International Management from ASUs Thunderbird School of Global
Management. 1993, Ms. Demmons received her bachelors degree from
the University of Puget Sound in Political Science.
Item 8.01 Other
On May 18, 2017 GME changed its corporate address to:
102 S TEJON ST STE 1100
COLORADO SPRINGS, CO 80903-2253
ROOM 1902, 19/F, KODAK HOUSE II
Additionally, and upon proper administrative and regulatory
approval, GME anticipates changing its name to Cannabis
Properties and Holdings, Inc. This name reflects the change in
business direction. GMEs new business model will be, in states
where cannabis is legal, to acquire real property, develop that
property, and lease the property to cannabis growers and
merchants. Additionally, GME will develop expertise in complying
with state and local regulations regarding cannabis licensing and
offer consulting to new and existing cannabis growers and
distributors, allowing them to focus their efforts on their core
competencies by outsourcing compliance issues.
Item 9.01 Financial Statement
Contract for Purchase of Assets dated April 20, 2016
Resignation letter from Kwong Kwan Yin Roy dated March 29,
Resignation letter from Yum Ka Yan dated March 29, 2016
About GME Innotainment, Inc. (OTCMKTS:GMEV)
The Great China Mania Holdings, Inc. (GMEC) has focused on developing and maintaining the entertainment businesses including talent management, event management, movie productions and movie distributions. The Company’s wholly owned subsidiary Super China Global Limited (SCGL) in British Virgin Islands (BVI) was formed to hold fellow subsidiaries. The Company owns approximately 13 subsidiaries through SCGL. The Company’s GME Holdings Limited operates an artist management and event management business in Hong Kong. Its GME Distribution Workshop Limited (GMED) manages movie-related businesses in Hong Kong. The Company’s GME London operates the businesses of concert management in the United Kingdom and Asia Pacific region. It organizes large scale music-related events, such as music festivals, concerts, ceremonies or formal parties. Its MY GME Sdn. Bhd. operates the businesses of movie casting, model management, model scouting and event management in Malaysia, Singapore and Thailand. GME Innotainment, Inc. (OTCMKTS:GMEV) Recent Trading Information
GME Innotainment, Inc. (OTCMKTS:GMEV) closed its last trading session up +0.0022 at 0.0300 with shares trading hands.