
Monday, August 10, 2020 11:56:09 AM
Under the terms of the Purchase Agreement, the Company acquired all of the issued and outstanding membership interests of Trustcash LLC from the owners of Trustcash LLC, free and clear of all liens. Pursuant to the Agreement the Company elected Gregory Moss, who is a co-founder of Trustcash LLC, as its President and CEO, and a director, and Dennis Shafer as its Chairman of the Board.
The Company issued to the former members of Trustcash LLC an aggregate of 49,631,448 shares of common stock. It also paid to one former member $200,000 in cash and issued its 5% Secured Promissory Note in the principal amount of $700,000 payable in full in two years, subject to certain mandatory prepayment requirements out of future financings received by the Company, in return for, among other things, such member's surrender of certain indebtedness owed to it by Trustcash LLC. The Company's Note is secured by all the current and future assets of the Company and its subsidiaries and guaranteed by its Trustcash LLC subsidiary.
As a result of this acquisition, the former owners of Trustcash LLC now own approximately 42% of the Company's common stock (38.9% on a fully diluted basis). Messrs Moss and Shafer together own approximately 30% of the Company's common stock.
A copy of the Purchase Agreement and other related agreements will be filed as exhibits to the Company's Report on Form 8-K, the full text of which can be accessed by visiting http://www.sec.gov and completing a "Search for Company filings" under the Filings & Forms header on the front page.
About Trustcash Holdings, Inc.

Liked By
Spread the love. Be the first to like this post!
Recent TC News
- Statement of Ownership (sc 13g) • Edgar (US Regulatory) • 01/04/2023 02:02:25 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 12/27/2022 01:22:29 PM
- TuanChe Announced Resignation of Deputy CFO • PR Newswire (US) • 12/23/2022 09:30:00 PM
- TuanChe Announces Closing of $15 Million Registered Direct Offering • PR Newswire (US) • 11/25/2022 08:00:00 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 11/23/2022 09:07:42 PM
- Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) • Edgar (US Regulatory) • 11/23/2022 09:02:43 PM
- TuanChe Announces Pricing of $15 Million Registered Direct Offering • PR Newswire (US) • 11/21/2022 02:20:00 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 11/17/2022 02:01:17 PM
- TuanChe and IAT Establish Strategic Partnership to Develop and Market New Energy Vehicles • PR Newswire (US) • 11/17/2022 01:15:00 PM
- TuanChe and S-TECH Technology Establish Strategic Cooperation to Develop and Market New Energy Vehicles • PR Newswire (US) • 11/04/2022 10:00:00 AM
- TuanChe Limited Announces Results of Annual General Meeting of Shareholders • PR Newswire (US) • 11/04/2022 10:00:00 AM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 10/21/2022 01:07:36 PM
- TuanChe and YangMing New Energy Technology Establish Strategic Cooperation to Develop Battery and Energy Storage Technologies • PR Newswire (US) • 10/21/2022 10:00:00 AM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 09/30/2022 12:45:42 PM
- TuanChe to Hold 2022 Annual General Meeting on November 4, 2022 • PR Newswire (US) • 09/30/2022 11:00:00 AM
- TuanChe Announces Unaudited First Half 2022 Financial Results • PR Newswire (US) • 09/29/2022 09:00:00 PM
- Notice of Effectiveness (effect) • Edgar (US Regulatory) • 09/09/2022 10:02:32 AM
- Securities Registration (foreign Private Issuer) (f-3/a) • Edgar (US Regulatory) • 08/25/2022 12:23:36 PM
- Securities Registration (foreign Private Issuer) (f-3/a) • Edgar (US Regulatory) • 08/16/2022 12:46:16 PM
- Securities Registration (foreign Private Issuer) (f-3/a) • Edgar (US Regulatory) • 08/02/2022 08:03:33 PM
- Securities Registration (foreign Private Issuer) (f-3/a) • Edgar (US Regulatory) • 07/14/2022 08:05:03 PM
- Securities Registration (foreign Private Issuer) (f-3) • Edgar (US Regulatory) • 05/13/2022 08:16:39 PM
- TuanChe Files Its Annual Report on Form 20-F • PR Newswire (US) • 04/29/2022 09:45:00 PM
- Annual and Transition Report (foreign Private Issuer) (20-f) • Edgar (US Regulatory) • 04/29/2022 09:19:19 PM
- Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) • Edgar (US Regulatory) • 04/06/2022 11:13:07 AM
XCPCNL Business Services Announces the Incorporation of ChatGPT Creator OpenAI to Enhance its Customer Service Experience Predictor Platform • XCPL • Jan 30, 2023 8:30 AM
1606 Corp Now Trading under Ticker CBDW, Management Announces First Acquisition • CBDW • Jan 27, 2023 11:59 AM
IQST - iQSTEL Reminds Shareholders To Get Their Votes In Before Annual Meeting Next Week On January 31, 2023 • IQST • Jan 26, 2023 9:53 AM
Nextech AR's AI-Powered CAD to Poly Toggle3D Launches Major Technology Advancements • ARWYF • Jan 26, 2023 8:46 AM
UCASU jump-starts its plan of NASDAQ or NYSE up-listing in 2023 • UCASU • Jan 26, 2023 7:21 AM
Kaya Holdings, Inc. (OTCQB: KAYS) Launches Fifth Dimension Therapeutics™ to seek to Provide Innovative Psychedelic-Based Treatments for Depression and Anxiety Related Conditions and Address the Growing Multi-Billion Dollar Global Psychedelics Market • KAYS • Jan 25, 2023 10:53 AM