On October 5, 2020, Sun Kissed Industries, Inc. (SKI) entered into an Acquisition Agreement whereby the stock of SFL Maven, Inc. (SFLM) was exchanged for 300,000 of SKI. SFLM became a wholly owned subsidiary of SKI and Joseph Ladin became the Chief Executive Officer, President and sole Director of SKI. Mr. Ladin also received 10,000,000 shares of Company’s Series A Preferred Shares representing voting control of the company. In November 2022, Mr. Ladin sold control of the Company to Chad MacKay, the Company’s new Chief Executive Officer and Sole Director. The Company’s new business model focuses on acquisitions or technology licensing opportunities. The Company identifies companies and/or technologies that could be impactful in their respective industries. The Company’s overarching objective is to add opportunities that it believes will be accretive to the Company and its Shareholders. For example, the Company is working with one credible university on some amazing technologies in the lithium mining industry that could prove to be important to the future of electric batteries. There in no assurance that this particular pursuit will be a success for the Company. Where it makes sense, the Company intends to focus on specific verticals.
Note 5 – Change in Control; Divestiture of Operating Subsidiary
On November 11, 2022, the Company’s controlling shareholder, Joseph Ladin, entered into a control securities purchase agreement (the “Sale Agreement”) with Loyal Technologies, LLC, pursuant to which Mr. Ladin is to sell the single share of Series A Preferred Stock which share of Series A Preferred Stock provides voting control of the Company to its holder. The Sale Agreement is expected to close prior to the close of business on November 21, 2022. As a condition precedent to the closing of the Sale Agreement, the Company was required to divest of its operating subsidiary, SFLMaven of Florida, LLC, which occurred in November 2022.
Note 7 – New Business Plan
The Company’s new business model focuses on acquisitions or technology licensing opportunities. The Company identifies companies and/or technologies that could be impactful in their respective industries. The Company’s overarching objective is to add opportunities that it believes will be accretive to the Company and its Shareholders. For example, the Company is working with one credible university on some amazing technologies in the lithium mining industry that could prove to be important to the future of electric batteries. There in no assurance that this particular pursuit will be a success for the Company. Where it makes sense, the Company intends to focus on specific verticals.
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