UPD HOLDING CORP. (OTCMKTS:ESWB) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
On January 14, 2021, our wholly owned subsidiary, United Product Development Corporation (the “Subsidiary”), a Nevada corporation, entered into a commercial lease (the “Lease”) with Athens Commons, LLC, a Kentucky Limited Liability Company, for the lease of a 88,740 square foot building at 5532 Athens Boonsboro Road, Lexington, Kentucky. The Lease is for a 5-year term with options to renew for 2 additional 5-year terms. The effective beginning date of the Lease term is January 14, 2021. The Lease provides for minimum monthly rent of $50,000 for the first lease year and a 3% rental increase for each succeeding lease year. $30,000 per month of the monthly rent is abated during the period that the Subsidiary completes improvements or is waiting on government and municipal permits and licenses. The Subsidiary, as the tenant, is required to obtain an all-risk insurance policy covering the premises as well as a public liability insurance policy of not less than $1,000,000. The Subsidiary intends to develop the building for the purpose of operating a substance abuse detoxification facility.
ITEM 7.01. Regulation FD Disclosure
We will distribute a press release regarding the Lease and our plans associated with the Lease.
The information in this Current Report on Form 8-K with respect to Item 7.01 (including the Press Release attached as Exhibit 99.1 hereto) is being furnished to Item 7.01 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act. This current report on Form 8-K will not be deemed an admission as to the materiality of any information contained herein (including the Press Release attached as Exhibit 99.1 hereto).
The exhibits listed below are filed or furnished herewith.
| Press Release dated January 20, 2021 |
_______
| * | Filed herewith. |
| † | Furnished herewith. |
UPD HOLDING CORP. Exhibit
EX-10.1 2 ex10_1.htm EXHIBIT 10.1 Exhibit 10.1 COMMERCIAL LEASE This Commercial Lease (“Lease”) has an effective date of January 14,…
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About UPD HOLDING CORP. (OTCMKTS:ESWB)
UPD Holding Corp., formerly Esio Water & Beverage Development Corp., is the parent company of its subsidiaries, United Product Development Corp. (UPDC) and iMetabolic Corp. (IMET). IMET is engaged in marketing products under the brand iMetabolic. IMET has developed four products to be marketed: iMetabolic Catalyst, iMetabolic Mini-Meal, iMetabolic Multi-Pro and iMetabolic BittX. iMetabolic Catalyst focuses on providing vitamins and plant compounds that are necessary to aid in metabolic functions. Such ingredients include B-Complex Vitamins, as well as Green Tea Extract and Resveratrol (polyphenols). iMetabolic Mini-Meal focuses on providing the essential whey protein isolate intake for a person who is on a four-to-five meal per day diet or needs a snack. iMetabolic Multi-Pro focuses on providing vitamins and minerals that are marketed as multi-vitamin supplements. iMetabolic BittX reforms the body’s disposition toward bitter foods in a subtle, inoffensive way.
