CannAwake Corporation (fka CANX)

[buhg1b]

Item 5.01 Changes in Control of Registrant.

At the Closing of the purchase of all of the outstanding membership interests in Altony on March 4, 2008 ( the “Transaction”), we issued to Egani 130,000,000 shares of our common stock, which constitutes following such issuance a majority of our outstanding shares of common stock.

The stockholders of Egani, Inc. are Daniel R. Peralta and Monica Laura Gallo, husband and wife, each a beneficial owner of 65,000,000 million shares of our common stock. Based on the number of our outstanding voting securities as of March 4, 2008, each of Mr. Peralta and Ms. Gallo own beneficially approximately 26.7% of our issued and outstanding shares of common stock.

The consideration furnished by Egani, Inc. was comprised of all of the outstanding membership interests of Altony SA and South American Hedge Fund LLC, valued at $2,600,000 based on the market value of 130,000,000 shares of our common stock on March 4, 2008, that we issued to acquire these assets.

The sources of funds used by the beneficial owners of Egani, Inc. to acquire control of the Company were personal funds.

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