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Kalex Corp. (fka KLXC) RSS Feed

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Created
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http://www.otcmarkets.com/stock/KLXC/profile
8. STOCK AGREEMENT

On April 2, 2013, the Company entered into a Share Exchange Agreement ("Share Exchange Agreement"), which Share Exchange Agreement remains subject to closing, with American International Football Corporation, Inc., a Nevada corporation ("AIFC"), the Estate of Norman King and the shareholder owning all the issued and outstanding capital stock of AIFC. This agreement was terminated on August 7, 2013.

9. SUBSEQUENT EVENTS
On April 9, 2015, the Company's sole board member, Arnold F. Sock, appointed J. Scott Tassan as the chief financial officer (principal financial and accounting officer) of the Company. Mr. Tassan's experience as the financial officer of several companies in the past led to the conclusion that he should serve as the chief financial officer of the Company in light of the Company's business and structure. On May 18, 2015, the Company entered into an Acquisition Agreement with all the owners of the common stock of LCP, Inc. for the purchase of 80% of the outstanding common stock of LCP by the Company, thereby making it a majority owned subsidiary of the Company. On June 4, 2015, the parties to the Acquisition Agreement entered into an Addendum to Acquisition Agreement. The effective date of this transaction is the date that the last signature is obtained on the documents, which is June 13, 2015. In compliance with the terms of the Acquisition Agreement discussed above.

On June 15, 2015 the Company's sole board member, Arnold F. Sock, appointed J. Scott Tassan, Edward Vakser, and Scott N. Weinert, as members of the Company's Board of Directors. Immediately thereafter, Mr. Sock resigned as a director and officer of the Company. 

On June 16, 2015 the Company's Board of Directors appointed Scott N. Weinert, as the Chief Executive Officer and President of the Company. J. Scott Tassan was confirmed to continue to serve as the Chief Financial Officer of the Company. Mr. Weinert's experience as the chief executive officer of several companies in the past led to the conclusion that he should serve as the chief executive officer of the Company in light of the Company's business and structure.

On June 16, 2015, the Company has a new address and telephone number: 1717 McKinney Avenue, Suite 700, Dallas Texas 75202; (214) 418-6940.

On August 19, 2015, the Company received a letter from the SEC's Division of Corporation Finance stating that the Company is delinquent in its required filings under the 1934 Act. It also stated that if the Company has not filed all required reports within fifteen days from the date of the letter, it could be subject to administrative proceedings to revoke its registration under the 1934 Act. Counsel for the Company has contacted the sender of the letter, by telephone and letter, and requested an extension to October 13, 2015 for filing all required reports, including the 2015 Form 10-K. On September 14, 2015, counsel for the Company was informed that it was acceptable to the Division of Corporation Finance for the Company to bring current all of its delinquent filings, and the 2015 Form 10-K, not later than October 13, 2015.

On September 10, 2015, Scott N. Weinert resigned as President and a member of the board of directors of the Company to pursue other interests. There was no disagreement between the Company and Mr. Weinert prior to the resignation. The Company's board of directors has appointed J. Scott Tassan, the Company's Chief Financial Officer, as the Company's interim Chief Executive Officer and President.

On May 18, 2015, the Company entered into an Acquisition Agreement with all the owners of the common stock of LCP, Inc. for the purchase of 80% of the outstanding common stock of LCP by the Company, thereby making it a majority owned subsidiary of the Company. On June 4, 2015, the parties entered into an Addendum to Acquisition Agreement. By a General Release Agreement, dated November 5, 2015, the parties determined that it would be in the best interests of all the parties not to proceed with the Acquisition Agreement.

 

 

 


 
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