Just too damn bad for Carmela's Pizzeria eh!
On January 4, 2018, the Company completed the sale of Carmela’s Pizzeria CO, Inc. (“Carmela’s”), a wholly owned subsidiary of the Company, to Ronald Heineman (“Heineman”), in exchange for Carmela’s assuming all of the liabilities of Carmela’s as well as $193,352 of convertible notes of the Company. Heineman was an officer of the Company until his resignation on November 28, 2017 and a Director of the Company through January 4, 2018 (see below).
The foregoing descriptions of the Agreement and the terms thereof are qualified in their entirety by the full text of such agreement, which is filed as Exhibit 10.2 to, and incorporated by reference in, this report.