Current Report Filing (8-k)

Date : 11/07/2019 @ 6:58PM
Source : Edgar (US Regulatory)
Stock : RENEWABLE ENERGY AND POWER, INC. (RBNW)
Quote : 0.0214  0.0074 (52.86%) @ 9:30PM
RENEWABLE ENERGY AND POWER, INC. share price Chart

Current Report Filing (8-k)

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) November 5, 2019

 

Renewable Energy & Power, Inc.
(Exact name of registrant as specified in its charter)

 

Nevada   000-23731   46-1294868

(State or other jurisdiction

of incorporation)

 

(Commission File Number)

 

(IRS Employer

Identification No.)

 

3395 W. Cheyenne Ave. #111B, N. Las Vegas, NV 89032
(Address of principal executive offices)

 

Registrant’s telephone number, including area code 702-685-9524

 

N/A
(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
       

 

 

 

 

 

Section 1 - Registrant’s Business and Operations

 

Item 1.01 Entry into a Material Definitive Agreement

 

On August 23, 2019, Renewable Energy & Power, Inc.. (the “Company” or “RBNW”) entered into a Membership Purchase Agreement with Lust for Life Footwear, LLC (“Lust for Life”) whereby 100% of the membership interests of Lust for Life were purchased in exchange for exactly 77,789 shares of Series B Preferred Stock of the Company (the “Agreement”).

 

Upon further due diligence, management determined that although the final issuance of 77,789 shares of Series B Preferred Stock of the Company is correct, the proper structure of the transaction has been amended. Pursuant to an Omnibus Amendment Agreement between the Company, Lust for Life New York, LLC, a New York limited liability company (“Lust NY”), Blind Faith Concepts, Inc., a New York corporation (“Blind Faith”), (the “Amendment”) he Company purchased 100% of Blind Faith. Blind Faith ownership, as a matter of percentages, was equal to the exact percentages of Lust for Life membership interests. Therefore, on August 23, 2019, owners of Blind Faith representing 100% of the total issued and outstanding shares were issued, collectively, 77,789 shares of Series B Preferred Stock of the Company (“Series B Preferred”). As a result, the Series B Preferred shares were issued as follows:

 

Shareholder Number of Series B Preferred Shares Received
Karen Berend 38,506
David Berend 16,919
Sarah Malaquias 16,919
Steven Berend 3,112
Linda Redlisky 2,334
TOTAL 77,789

 

As a result of the transaction, Blind Faith became a subsidiary of the Company. Lust for Life in turn is a wholly owned subsidiary of Blind Faith.

 

Karen and David Berend remain the 100% owns of the Series A Preferred Stock, having super voting rights of the Company.

 

SPACE LEFT INTENTIONALLY BLANK. SIGNATURES TO FOLLOW.

 

 

 1

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      Renewable Energy & Power, Inc.
     

(Registrant)

Date: November 7, 2019      
      By: /s/ Conrad Huss
      Name: Conrad Huss
      Title: Chief Executive Officer

 

 

 2

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