SHARING SERVICES, INC. (OTCMKTS:SHRV) Files An 8-K Other Events
Item 8.01 Other Events.
On December 21, 2018, Sharing Services, Inc. (the “Company”) repurchased 30,000,000 shares of its Class A Common Stock, par value $0.0001, from Foshan City Shunde District Cheering Garden Tools Co., LTD. In connection with the share repurchase, Alchemist Holdings, LLC., D/B/A Alchemist Holdings Group, (“Alchemist”), the Company’s largest stockholder, assisted the Company in negotiating with the selling stockholder and remitted the purchase price on behalf of the Company. Alchemist is controlled by Mr. Robert Oblon, the Chairman of the Company’s Board of Directors. On December 21, 2018, the Company issued a promissory note in favor of Alchemist for $300,000 in connection with the share repurchase. The note is non-interest bearing and is due on demand.
The repurchase of the shares and the purchase price thereof are deemed by the Company’s Board of Directors to be in the best interest of the Company. Subsequent to the share repurchase, the Company retired the repurchased shares. After giving effect to the repurchase and retirement of the shares, there were 87,802,174 shares of the Company’s Class A Common Stock issued and outstanding as of the date of this filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
* Included herewith
Sharing Services, Inc. Exhibit
EX-1.1 2 ex1-1.htm Exhibit 1.1 PROMISSORY NOTE $300,…
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About SHARING SERVICES, INC. (OTCMKTS:SHRV)
Sharing Services Inc, located in Khon Kaen, Thailand, is focused to market and sell the company’s taxi sharing service via a developed website. The company was incorporated on April 24, 2015.
