Houston Natural Resources Corp (HNRC)

[kingpindg]

Forget Sputnik, Frank couldn't close the deal...


An Agreement and Plan of Merger (Agreement) was made the fifteenth day of May, 2015 by and between Sputnik Enterprises, Inc., a Nevada corporation, SPNI (the "Issuer"), and Ludvik Holdings, Inc., a Delaware Corporation (the "Company").

The Issuer, at Closing, shall transfer to the Shareholders, fifteen million shares (15,000,000) of common stock of Issuer, $.001 par value, in exchange for 100% of the issued and outstanding shares of Company, such that Company shall become a wholly owned subsidiary of the Issuer.

The Closing of the share exchange and the transactions contemplated by this Agreement (the "Closing") shall be upon the completion of satisfactory due diligence by Issuer in its sole discretion, and the delivery of all documents and items required to be delivered under this agreement, including but not limited to a PCAOB audit. Approval of the audit is at the sole discretion of the Issuer. The transaction shall close no later than June 22, 2015 or this agreement will automatically terminate at that date unless both parties to this agreement acknowledge that the closing date may be modified by mutual written consent of the parties.

On June 22, 2015, the Issuer and the Company executed an addendum to the Agreement whereby the closing date was extended to July 31, 2015.

On July 31, 2015 the Company failed to close the merger as agreed per the addendum executed on June 22, 2015. As a result, the merger agreement is terminated and null and void.


http://www.sec.gov/Archives/edgar/data/1326917/000147793215004842/spni_8k.htm



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