Replies to post #45 on Quanta Inc (fka QNTA)

[No1Uknow]

Item 1.01. Entry into a Material Definitive Agreement.

Securities Exchange Agreement



On December 21, 2020, Quanta, Inc. (the “Company”) entered into a Securities Exchange Agreement with Medolife Rx, Inc., a Wyoming corporation, (“Medolife Rx”) pursuant to which, the Company agreed to acquire 51% of Medolife Rx in exchange for 9,000 shares of newly created Series B Convertible Preferred Stock, which, once issued to Medolife Rx designees upon closing, shall be convertible into fifty-four percent (54%) of the issued and outstanding shares of the Company’s common stock on a fully converted basis.



The closing of the Securities Exchange Agreement dated December 21, 2020 is subject to customary due diligence by both parties, and to the approval of Quanta, Inc. shareholders. Pursuant to the closing thereof, the Company expects to file a Schedule 14 with the Securities and Exchange Commission which will detail the Series B Convertible Preferred Stock.