Sugarmade Inc (SGMD)

[akc232]

The BZRTH option was executed back in Feb with no further shares issued. Meaning the current 200M shares that have been given is for BizRight/BZRTH along with the payment of 6M cash, which only 800K has bee paid so far. The BZRTH PR can be found back in Feb 2019 as well as the confirmation on SGMDs facebook page.

Shares have been issued so once the cash is settled the revs from Bizright and BZRTH will be recognized.

"Sugarmade now plans to fully acquire BZRTH, a company associated with BizRight and has amended the Master Marketing Agreement giving Sugarmade the same rights under the Master Marketing Agreement for both BizRight and BZRTH."

https://www.otcmarkets.com/filing/html?id=13444378&guid=D8QyUeIcGgl3uyh



Question: Is the Company still planning to acquire BizRight LLC (“BizRight”)?

Answer: The Company had entered into a Master Marketing Agreement with BizRight, a leading marketer and manufacturer of hydroponic growth supplies on December 13, 2017. Separate agreements and understandings with the shareholders of BizRight contemplated, in part, a Share Exchange Agreement wherein the Company would have acquired all of the issued and outstanding shares of BizRight stock in exchange for the Company’s shares of authorized, a promissory note and earn-out shares. The negotiations required, among other requirements, that BizRight provide audited financial statements compliant with the Securities Exchange Act of 1934, to be filed by the Company in connection with the transaction. BizRight is currently having its financial statements audited.


Sugarmade now plans to fully acquire BZRTH, Inc. (“BZRTH”), a company associated with BizRight and amended the Master Marketing Agreement giving Sugarmade the same rights under the Master Marketing Agreement for both BizRight and BZRTH. Upon closing of the audit for the companies, which will allow Sugarmade full ownership of both operations and thus allow for full revenue recognition. To provide the funding of these businesses and to execute under the terms of the acquisition option, the Company will require additional financing and is contemplating an offering of its securities.

https://www.otcmarkets.com/filing/html?id=13362550&guid=D8QyUeIcGgl3uyh


Dont believe me? Provided links for ya. :D