AMAS .02 8k out :) Item 1.01 Entry into a Material Definitive Agreement
On December 24, 2012, Amasys Corporation., a Delaware corporation, received a deposit under a Letter of Intent (“LOI”) which it entered into on December 11, 2012 with StemGen Inc. a Nevada corporation.
Under the LOI, if all conditions are satisfied or waived the following will take place (a) transfer all of the intellectual property rights and operations of StemGen into the direct ownership and control of Amasys; and (b) transfer all of the equity interests of StemGen into the direct ownership and control of Amasys. The LOI is subject the company performing a reverse stock split of 1 for 80 and changing the name to StemGen. StemGen will pay Amasys an amount in cash equal to $325,000 at closing of which a 10% non-refundable deposit is due upon signing of the LOI. A definitive agreement will set forth the specific terms of the transaction. The definitive agreement shall contain standard representations and warranties. A copy of the LOI is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.