db7
9 years ago
from 10Q,"The books and records of the National Acceptance Corporation (NAC) will be subject to an independent audit. Any variance in the fair value of the assets acquired in the transaction will be adjusted accordingly upon the completion of the audit, projected to be in September, 2015. In connection with the acquisition of NAC, the Company is expected to pay $180,000 on an annual basis to its employee, the former owner, to manage the operations of NAC. During the three and nine months ending June 30, 2015, the Company incurred $48,000 and $96,000, respectively, in compensation costs related to this agreement.
It is the intention of the Company, upon completion of the audit, to distribute the 15,182,860 common stock shares it owns as of December 31, 2014 to the shareholders of The Company.
"
db7
9 years ago
from 10k, "
12-B. Security Ownership of Management
Title Name of Amount and nature of Percent of
of class Beneficial Owner beneficial ownership Class
-------------------------------------------------------------------------------------
Common Bernard L. Brodkorb, 48,250,448 (1,2) 94.62%
Common Boris L. Epshetyn 1,250,000 2.45
---------- -------
Directors and executive officers as a group 49,500,448 97.04%
"
db7
9 years ago
8k,
Section 1 Business and Operations
Item 1.01 Entry into Material Definitive Agreements:
On December 31, 2014, ISA Financial Services, Inc. (The “Buyer”)(ISAF), a presently owned 100% unconsolidated investment subsidiary of ISA Internationale, (ISAT), a Business Development Company focused on recruiting, mentoring, coaching, and enhancing investment opportunities for healthcare and technology based companies, entered into a Stock Purchase Agreement Agreement (The “Agreement”) with Doubletree Ranch Limited Partnership, an Alaska limited partnership, (“Seller”), wherein ISAF (the “Buyer”) acquires 100% of the issued and outstanding common shares of National Acceptance, a Minnesota Corporation, engaged in various investments in equity and bond investments and other real estate activities. National Acceptance Corporation receives 4,500,000 common shares of the subsidiary common stock authorized to be issued. The Company receives an investment in a Company whose assets approximating in excess of $4,500,000 and liabilities totaling approximately $2,000,000.
The ISAF Company will have the books and records of the acquired Company subject to a certified audit and the results filed accordingly within 60-70 days.
A copy of this agreement is attached as an exhibit to this 8-K filing.