SHARING SERVICES,INC. (OTCMKTS:SHRV) Files An 8-K Entry into a Material Definitive Agreement

SHARING SERVICES,INC. (OTCMKTS:SHRV) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

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The information contained in Item 2.03 below is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of the Registrant.

On November 2, 2018, the Company entered into a financing agreement with Syndimate LLC (“Syndimate”) to which the Company agreed to sell to Syndimate certain future trade receipts in the aggregate amount of $330,000. Net proceeds from this transaction were $239,000 and were net of an initial financing fee of $11,000 and applicable financing costs, calculated at an implied discount rate of 32% per annum. Under the terms of the agreement, borrowings are payable in equal daily installments of approximately $2,063 over a term of approximately five and one-half months.

On November 27, 2018, Sharing Services, Inc. (the “Company”) entered into a financing agreement with Libertas Funding LLC (“Libertas”) to which the Company agreed to sell to Libertas certain future trade receipts in the aggregate amount of $635,000. Net proceeds from this transaction were $490,000 and were net of an initial financing fee of $10,000 and applicable financing costs, calculated at an implied discount rate of 27% per annum. Under the terms of the agreement, borrowings are payable in equal daily installments to Libertas of approximately $4,320, subject to change at the Sharing Services, Inc.’s discretion, over a term of approximately five months.

On November 30, 2018, Sharing Services, Inc. (the “Company”) entered into a financing agreement with eMerchant Advance LLC (“eMerchant”) to which the Company agreed to sell to eMerchant certain future trade receipts in the aggregate amount of $635,000. Net proceeds from this transaction were $485,000 and were net of an initial financing fee of $15,000 and applicable financing costs, calculated at an implied discount rate of 27% per annum. Under the terms of the agreement, borrowings are payable in equal daily installments to eMerchant of approximately $4,320, subject to change at the Sharing Services, Inc.’s discretion, over a term of approximately five months.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number

Description of Exhibit

Location

10.1

Receipts Purchase and Sale Agreement dated November 2, 2018 by and between Sharing Services, Inc. and Syndimate LLC.

Provided herewith

10.2

Agreement of Sale of Future Receipts dated November 27, 2018 by and between Sharing Services, Inc. and Libertas Funding LLC.

Provided herewith

10.3

Agreement for the Purchase and Sale of Future Receipts dated November 30, 2018 by and between Sharing Services, Inc. and eMerchant Advance LLC.

Provided herewith

Sharing Services, Inc. Exhibit
EX-10.1 2 ex10_1apg.htm EXHIBIT 10.1 EXHIBIT 10.1   EXHIBIT 10.1 5455 Wilshire Blvd. Suite 950 Los Angeles CA 90036 | 213-213-5237 RECEIPTS PURCHASE AND SALE AGREEMENT This Receipts Purchase and Sale Agreement (“Agreement”) dated 11/02/2018 between Syndimate (“PURCHASER”) and the merchant listed below MERCHANT INFORMATION Merchant’s Legal Name: Sharing Services Inc D/B/A: Sharing Services Inc State of Incorporation / Organization: TX Federal Tax ID: 30-0869786 Type of entity: Limited Liability Company (LLC) Physical Address: 1700 Coit Rd,…
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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.

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