SUGARMADE, INC. (OTCMKTS:SGMD) Files An 8-K Other Events
Item 8.01 Other Events.
On February 18, 2010, the Company informed the Financial Industry Regulatory Board (FINRA) of its intent to withdraw a previously filed corporate action relating to a planned reverse split of the Company’s common shares (the “Reverse Stock Split”). The Company now believes shareholder interest is better served by not conducting the previously announced Reverse Stock Split.
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About SUGARMADE, INC. (OTCMKTS:SGMD)
Sugarmade, Inc. is engaged in the supply of products to the quick service restaurant sub-sector of the restaurant industry. The Company is a distributor of paper products derived from non-wood sources. As of June 30, 2015, the Company’s operating unit, CarryOutSupplies.com, which is a producer and wholesaler of custom printed and generic takeout supplies served more than 3,000 quick service restaurants. It conducts its operations in an industry segment, including paper and paper-based products, such as paper cups, cup lids, food containers and others. Its products also include double poly paper cups for cold beverage, yogurt cups, ice cream cups, soup containers and plastic spoons. It is a manufacturer and distributor of tree free copy and printer paper products, made from sugarcane waste (bagasse) and bamboo for home and office environments under the Sugarmade brand name. It has also acquired a minority stake in various patents and products for seasoning and spices for food items.