Item 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
On January 8, 2020, with an effective date of January 1, 2020, the Company,
after a thorough analysis, has concluded that in the interest of geographic
focus, the Company will discontinue its business operations in North Dakota,
specifically, ADM Enterprises LLC (the "Disposed Company"). The Company has made
a settlement with Ardell Mees to provide him with the assets of the Disposed
Company and in exchange, he will assume all liabilities of the Disposed Company.
As part of the transaction, Mr. Mees resigned from all positions with the
Company (see Item 5.01) and, in a private transaction, sold a significant
portion of his ownership in the Company to Marc Johnson (see Item 5.01). The
Company and Ardell. Mees entered into an indemnification agreement whereby
Ardell Mees will indemnify the Company for any liabilities of the Disposed
Company.
Item 5.01 CHANGES IN CONTROL OF REGISTERANT
On January 9, 2020, Mr. Mees sold 40,000,000 shares of common stock of the
Company to Marc Johnson (the "Purchased Shares"). Mr. Mees retained 3,000,000
shares of common stock of the Company. With the Purchased Shares, Mr. Johnson
now has 40,000,000 shares of common stock of the Company and 2,000,000 shares of
preferred stock of the Company, thereby providing Mr. Johnson with approximately
30.35% of the common stock of the Company and 100% of the preferred stock of the
Company, which gives him voting control of the Company.
Item 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS
As part of the above-referenced agreement (see Item 2.01), with the consent of
the majority of the shareholders and the board of directors, the following
changes in officers and directors were made:
Resignations:
Ardell Mees resigned as Chief Executive Officer, Chief Financial Officer,
Director and Assistant Secretary.
Andreana McKelvey resigned as Director.
Marc Johnson resigned as Chief Operating Officer and Secretary.
Appointments:
Marc Johnson was appointed as Chief Executive Officer.
Sarah Nelson was appointed as Chief Operating Officer and Director.
Motasem Khanfur was appointed as Chief Financial Officer.
Marc Johnson remains a Director and will be the Chairman.
Bios of new officers and directors:
Sarah Nelson, 43, has a background in non-profit fundraising, most recently for
a youth hockey organization in northern Colorado. Currently, she has her own
company, SLN Media Company, which assists small businesses with their social
media, marketing and advertising brands. Ms. Nelson has a Bachelor of Arts
degree in Environmental Design, from Texas A&M University, earned in 1998.
Motasem Khanfur, 29, has various business experience, including ownership of a
grocery store and meat market in Amman Jordan. In 2015, Mr. Khanfur came to the
United States. In July 2017, Mr. Khanfur was engaged by Just Right Products,
Inc., in the accounting department. Mr. Khanfur has a Bachelor's Degree in
Accounting, from Al-Bayt University in Mafraq, Jordan, earned in 2012.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
10.1 Indemnification Agreement dated January 9, 2020
10.2 Resolution of the Board of Directors dated January 8, 2020
10.3 Majority Shareholder Consent dated January 8, 2020
10.4 Resolution of the Board of Directors dated January 9, 2020
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