2/2/18 8-K News Update,Joint-venture/decreasing AS
1--On February 2, 2018, the Company’s CEO, James A. Tilton, announced the execution and closing of an amended Definitive Joint Venture Agreement with Heuristics IT Engineering, a private company,(Seven Leaf). Seven Leaf will provide turnkey technological solutions to the legal medical cannabis and hemp industries.On February 2 , 2018, the Company and Heuristics amended the September 24, 2017 definitive acquisition agreement whereby NSAV shall own fifty-one percent (51%) of the Seven Leaf joint venture. Heuristics shall own thirty percent (30%) of the Seven Leaf joint venture. The shareholders of NSAV, at a record date to be determined, will own nineteen percent (19%) of the Seven Leaf joint venture, in the form of a partial spin-off/dividend.
2--On January 22, 2018, the Board of Directors of Net Savings Link, Inc. and its principal stockholder, holding a majority of the voting power, formally approved an amendment to the Company’s articles of incorporation, decreasing the Company’s authorized shares of common stock from 6,000,000,000 shares with a par value of $0.001 per share to 5,500,000,000 shares with a par value of $0.001 .