ON THE MOVE SYSTEMS CORP. (OTCMKTS:OMVS) Files An 8-K Entry into a Material Definitive Agreement

ON THE MOVE SYSTEMS CORP. (OTCMKTS:OMVS) Files An 8-K Entry into a Material Definitive Agreement

Story continues below

Item 1.01 Entry into a Material Definitive Agreement.

On February 16, 2017, On the Move Systems Corp (the Registrant or
Company) closed on a Share Purchase Agreement with Capital
Venture Holdings LLC, a Wyoming Limited Liability Company (LLC)
whereby the Company issued LLC 1,000 shares of Series F Preferred
stock, representing all of the issued and outstanding shares of
Series F to LLC in consideration for $5,000. Mr. Garett Parsons,
an individual, is the sole and managing member of LLC.

In connection with the foregoing, the Company relied upon the
exemption from registration under the Securities Act of 1933, as
amended and the rules and regulations of the Securities and
Exchange Commission thereunder, in reliance upon Section 4(a)(2)
thereof and Regulation D thereunder.

To the extent required by Item1.01 of Form 8-K, the information
provided in response to Item 3.03 of this report is incorporated
by reference into this Item 1.01.

The above description of the Share Purchase Agreement is filed as
Exhibit 10.1 hereto and is incorporated herein by this reference.

Item 3.02 Unregistered Sales of Equity
Securities.

The information provided in response to Item 1.01 of this report
is incorporated by reference into this Item 3.02.

Item 3.03 Material Modification to Rights of Security
Holders.

On February 8, 2017, the Company filed a Certificate of
Designation for its Series F Preferred Stock with the Secretary
of State of Nevada designating 1,000 shares of its authorized
preferred stock as Series F Preferred Stock (Series F). The
shares of Series F shall have a par value of $0.001 per share.
The shares of Series F do not have any dividend rights,
liquidation rights and are not redeemable. convertible into
shares of common stock. The Series F have conversion rights as
follows:

(a)Each share of Series F may be converted at any time following
issuance into a number of fully paid and non-assessable shares of
common stock determined by multiplying the number of issued and
outstanding shares of common stock of the Company on the date of
conversion by two and 22 100ths (2.22) and dividing the result by
1,000 (Conversion Price).

For so long as any shares of the Series F Preferred Stock remain
issued and outstanding, the vote of a majority of the Series F
holders shall be required for the following: (a) altering or
changing the rights, preferences, or privileges of any class of
shares; (b) issuing any shares of any class of the Companys
stock; and (c) increasing the number of authorized shares of any
class of the Companys stock.

To the extent required by Item3.03 of Form 8-K, the information
provided in response to Item 1.01 of this report is incorporated
by reference into this Item 3.03.

– 2 –

Item 5.01 Change in Control of Registrant.

On February 7, 2017, Panama Iphone Inc. (Panama), a significant
shareholder of the Company, transacted for the sale (Sale) to Mr.
Parsons, of 1,000,000 shares of Series E Preferred Stock held by
Panama, representing all of the issued and outstanding shares of
Series E Preferred Stock (Series E). The Series E are restricted
securities. The Series E have the right to take action by written
consent or vote based on the number of votes equal to twice the
number of votes of all outstanding shares of common stock. As a
result of the Sale and upon closing, Mr. Parsons shall have
66.67% of the voting power of all shareholders at any time
corporate action requires a vote of shareholders.

Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain officers;
Compensatory Arrangements of Certain Officers.

On February 16, 2017, Mr. Robert Wilson resigned in all officer
capacities from the Company, and Mr. Parsons was appointed as
Chief Executive Officer, Chief Financial Officer, President and
Secretary. The resignation was not the result of any disagreement
with the Company on any matter relating to our operations,
policies or practices.

Effective upon the 10th day after the filing and mailing of an
Information Statement required by Rule 14f-1 under the Securities
Exchange Act of 1934, as amended (Appointment Date), Mr. Wilson
will automatically resign as sole director. On such Appointment
Date, Mr. Parsons will be appointed as the Companys director.

Mr. Garett Parsons Age 34, Chief Executive Officer, Chief
Financial Officer, President and Secretary

Background of Mr. Garett Parsons

With over 10 years of financial consulting for both private and
public equity markets, Mr. Parsons has much experience in the
field of asset valuation, funding structures and public release
document generation. His education includes a Bachelor of Arts in
Political Science/ Economics from California State University
Sacramento, Sacramento, Ca. and Associate of Arts in Liberal
Studies/ Business San Joaquin Delta College and West Hills
College, Stockton/ Coalinga Ca.

As of the date of this filing, there has not been any material
plan, contract or arrangement (whether or not written) to which
Mr. Parsons is a party in connection with his appointments at the
Company.

The following table sets forth certain information as of February
16, 2017 and gives effect to the above described transaction,
with respect to the holdings of: (i) each of our current
directors and named executive officers, (ii) each of the
individuals who will be appointed as directors of Company on the
Appointment Date, and (iii) all directors and executive officers
as a group, including the new directors. Other than those
individuals named below, no holder owns 5% or more of Companys
common stock. To the best of our knowledge, each of the persons
named in the table below as beneficially owning the shares set
forth therein owns the shares directly and has sole voting power
and sole investment power with respect to such shares, unless
otherwise indicated. Unless otherwise specified, the address of
each of the persons set forth below is the address of the
Company. The information below is based on a total of 16,018,844
shares of the Companys common stock outstanding as of February
16, 2017.

– 3 –

Name of Beneficial Owner

Number of Shares Held

% of Common shares

% of Series E Preferred shares

% of Series F Preferred shares

% of voting Control of the Company

Garett Parsons (1)

1,000,000 Series E Preferred Shares

_______

50%

_______

66.67%

Capital Venture Holdings LLC (2)

1,000 Series F Preferred Shares

_______

_______

50%

_______

Robert Wilson (3)

Officers and Directors as a group (2)

1,000,000 Series E Preferred Shares

1,000 Series F Preferred Shares

50%

50%

66.67%

Panama Iphone Corp.

1,684,467

10.52%

________________________

(1) To be effective at closing which shall occur ten days after
the filing and dissemination of the Schedule 14f -1 Information
Statement.

(2) Mr. Parsons is the sole member of Capital Venture Holdings
LLC and is thus deemed beneficial owner of the shares.

(3) As of the date of this filing, Mr. Wilson serves as our sole
director. Ten days after the filing and dissemination of the
Schedule 14f -1 Information Statement, Mr. Wilson will resign as
a director and Mr. Parsons will be appointed director of the
Company.

As of the date of this filing, there has not been any material
plan, contract or arrangement (whether or not written) to which
Mr. Parsons is a party in connection with his appointments at the
Company.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits

Exhibit No.

Description

10.1

Share Purchase Agreement dated January 31, 2017 and entered
into between the Company and Capital Venture Holdings LLC.

– 4 –


ON THE MOVE SYSTEMS CORP. (OTCMKTS:OMVS) Recent Trading Information

ON THE MOVE SYSTEMS CORP. (OTCMKTS:OMVS) closed its last trading session up +0.00220 at 0.00750 with 40,750 shares trading hands.

An ad to help with our costs