Auto Parts 4Less Group Inc (FLES)

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Acquisition - On June 18, 2018, the Company entered into a Binding Letter of Intent (“Binding LOI”), with The 4 Less Corp. (“4Less”). The Company will acquire all of the issued and outstanding shares of common stock of 4Less by (1) issuance of 19,000 shares of Series B preferred stock; (2) issuance of 6,750 shares of Series C preferred stock; (3) issuance of 750 shares of Series D preferred stock to shareholders; and (4) payment of $150,000 to 4Less within 15 days of execution of this Binding LOI. Timothy Armes, CEO of the Company, agreed to return 60,000,000 shares of common stock of the Company in exchange 120 shares of Series D preferred stock at the time of execution of the definitive agreement.
http://archive.fast-edgar.com//20180806/AB2Z422CZ22232Z2222M2WDZS76PZZF23PA2/