Tuesday, October 02, 2018 5:44:52 PM
1. Effective May 24, 2018, Mr. Arcaro resigned his executive positions as President/Chief Executive Officer, Secretary, Treasurer/Chief Financial Officer and sole member of the Board of Directors. Simultaneously, effective May 24, 2018, Mr. Arcaro appointed the following individuals: Mandla J. Gwadiso as the President/Chief Executive Officer and sole member of the Board of Directors.
2. On May 24, 2018, Gwadiso submitted his resignation to the Board of Directors and on May 25, 2018 the resignation was accepted and as his last act appointed Erroll A. Booker as Director and CEO and Cletus M. Ibeto as Chairman to the Board.
3. On May 26, 2018 the shareholders holding a majority of the total issued and outstanding shares approved the change in corporate name to [[color=red]b]“Ibeto Cement International Corporation” and to change the state of Domicile from Nevada to Florida.
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4. On May 30, 2018 the Articles of Incorporation and Certificate of Conversion was filed with the Florida Secretary of State. The foregoing description of the Certificate of Amendment to the Articles of Incorporation is qualified in its entirety by reference to the text of the Amendment attached as Exhibit 3.1 to this Form 8-K and incorporated herein by reference.
5. On June 4, 2018 the Certificate of Dissolution was filed with the Nevada Secretary of State.
6. On June 27, 2018The Company submitted initial documents to the Financial Industry Regulatory Authority ("FINRA") regarding this name change. FINRA is still reviewing the Company's submissions. The Company will announce the completion of FINRA's review and the effectiveness of the name change by filing a subsequent Form 8-K.
7. On July 3, 2018 the company was notified the Securities and Exchange Commission issued a 10- day trading suspension on the Company’s common shares of stock.
8. On July 5, 2018 DTCC imposed a “Global Lock” on the Company’s common shares suspending all book entry services.
It is the full intent of the Company to cooperate with all regulatory agencies and move forward.
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