The Grilled Cheese Truck Inc. (fka GRLD)

[valeriana]

Anyone home here? 8k out today...

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11076739

Item 1.01 Entry into a Material Definitive Agreement.

On December 18, 2015, we entered into an Asset Purchase Agreement whereby our wholly-owned subsidiary, GCT Lobos, Inc., will acquire all of the assets of “The Lobos Truck“, a 4-truck food truck operator in Rosemead, California, from The Seawolf Group, LLC. The purchase price is One Million Nine Hundred Fifty Thousand Dollars ($1,950,000), payable in the form of six hundred fifty thousand (650,000) shares of our Series B Convertible Preferred Stock, plus the value of inventory and lease deposits on the date of closing. The Series B Convertible Preferred Stock has an original issuance value of Three Dollars ($3.00) per share, pays a six percent (6%) annual dividend (in cash or stock in our discretion), has one (1) vote per share, and is convertible into our common stock on a one-for-one (1-for1) basis. In connection with the purchase of the assets, we anticipate entering into a License Agreement and a Joint Venture Agreement with Seawolf whereby they will continue to operate the trucks, as well as employment agreements with the two principals of Seawolf. The acquisition is anticipated to close on December 31, 2015.