MediXall Group, Inc. (OTCMKTS:MDXL) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Sale of a Material Definitive Agreement.
On September 13, 2019, TurnKey Capital, Inc. (TurnKey), a related party of MediXall Group, Inc. (the Company), entered into a Definitive Acquisition Agreement (the TKCI DAA) between TurnKey and Egg Health Hub, Inc. (EGG). to the TKCI DAA, EGG and TurnKey agreed to commence the negotiation and preparation of a definitive share exchange agreement (the Definitive Agreement) whereby EGG will exchange all of its issued and outstanding shares of common stock for shares of Turnkeys common stock on a one-for-one basis, which upon the completion of such Definitive Agreement will constitute 70,000,000 shares of EGGs issued and outstanding common stock. Upon completion of such Definitive Agreement, EGG will become a wholly owned subsidiary of the TurnKey.
EGG is a brand new model for healthcare and wellness that brings together top physicians and wellness professionals into co-practicing communities with shared access to a full-stack technology platform scheduling, billing, client acquisition, and telemedicine and flexible access to beautiful office space designed to optimize both the physician and client experience. The Company believes that this model creates a compelling new option for re-tenanting traditional shopping centers and mixed-use space that landlords see as a true traffic generator.
On July 27, 2020, the Company and TurnKey entered into an assignment of the TKCI DAA. As a result of the COVID-19 outbreak, TurnKey determined that the original opportunity that existed with EGG was no longer practical in the short-term. The Company and TurnKey believed, however, that the EGG concept remained a viable concept on a virtual basis, and the Company possesses the infrastructure and willingness to pursue this opportunity. In exchange for 1,000,000 shares of the Companys common stock, TurnKkey assigned its interest in the TKCI DAA to the Company.
The foregoing description of the terms of the assignment of the TKCI DAA is qualified in its entirety by reference to the provisions of the agreement filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
MediXall Group, Inc. Exhibit
EX-10.1 2 mdxl_ex10z1.htm DEFINITIVE ACQUISITION AGREEMENT DEFINITIVE ACQUISITION AGREEMENT EXHIBIT 10.1 DEFINITIVE ACQUISITION AGREEMENT In consideration of the mutual promises,…
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About MediXall Group, Inc. (OTCMKTS:MDXL)
MediXall Group Inc formely ‘Continental Rail Corp’. is a freight rail transportation holding company. The Company focuses to conduct its operations through two divisions: railroad freight division and rail rolling stock leasing division. The Company’s rail freight division focuses to acquire ancillary and complimentary operations for the short line and regional freight railroad industry. The Company’s rail rolling stock leasing division seeks to purchase existing rail car and locomotive leasing companies and/or directly purchase rolling stock for lease to railroads. The Company’s rail rolling stock leasing division seeks to acquire rail-related service companies to partner with its freight railroad operations. These operations consist of repair facilities, track refurbishing facilities and other complimentary operations. The Company has not generated any revenues.