XFIT BRANDS, INC. (OTCBB:XFTB) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On October 19, 2016, XFit Brands, Inc. (the Company), filed an
initial Current Report on Form 8-K with the Securities and
Exchange Commission (the Original Filing) reporting the
acquisition (the Acquisition) of the assets of Environmental Turf
Services, LLC(EnviroTurf) to a definitive Asset Purchase
Agreement dated October 10, 2016 (the Purchase Agreement) between
the Company and EnviroTurf.
This Current Report on Form 8-K/A is being filed to amend the
Original Filing to include the financial statements and pro forma
financial information required by Item9.01 of Form 8-K.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Financial Statements of Businesses Acquired
The following financial statements are filed with this Form 8-K
and are incorporated herein by reference:
| Exhibit 99.1 |
Audited balance sheet of EnviroTurf as of December31, 2015 and 2014 and the related statements of operations andmembers deficit and cash flows for the years then ended; |
|
| Exhibit 99.2 |
Unaudited balance sheet of EnviroTurf as of June 30, 2016 and September 30, 2016 and the related statements of operations and members deficit and cash flows for the six and three month periods then ended. |
Pro Forma Financial Information
The following unaudited pro forma condensed consolidated
financial statements are filed with this Form 8-K as exhibit 99.3
and are incorporated herein by reference:
|
Pro forma condensed consolidated balance sheet of the Company and EnviroTurf as of June 30, 2016 and September 30, 2016 as if the Acquisition occurred July 1, 2015; |
||
|
Pro forma condensed consolidated statements of operations of the Company and EnviroTurf for the year ended June 30, 2016 and the three months ended September 30, 2016 as if the Acquisition occurred July 1, 2015; and |
||
|
Notes to condensed pro forma consolidated statements of operations and balance sheet. |
| Additional Exhibit | ||
| Exhibit 23.1 |
Consent of Accell Audit Compliance, P.A. to the incorporation of their report on the financial statements of Environmental Turf Services, LLC in the Companys Registration Statement on Form S-8, Commission File No. 333-214891 |
|
The unaudited pro forma consolidated financial information is
presented for informational purposes only. The pro forma data is
not necessarily indicative of what the Companys financial
position or results of operations actually would have been had
the Company completed the Acquisition as of the dates indicated.
In addition, the unaudited pro forma condensed consolidated
financial information does not purport to project the future
financial position or operating results of the consolidated
company.
XFIT BRANDS, INC. (OTCBB:XFTB) Recent Trading Information
XFIT BRANDS, INC. (OTCBB:XFTB) closed its last trading session 00.000 at 0.200 with 13,568 shares trading hands.
