Current Report Filing (8-k)
August 30 2018 - 4:28PM
Edgar (US Regulatory)
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): August 20, 2018
12
ReTech Corporation
(Exact
name of registrant as specified in its charter)
|
Nevada
|
|
333-201319
|
|
38-3954047
|
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
No.)
|
|
(IRS
Employer
Identification
No.)
|
701
S. Carson Street
Suite
200
Carson
City, Nevada 89701
Tel:
530-539-4329
(Address
of principal executive offices, including Zip Code)
Check
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))
|
Item
1.01 Entry into a Material Definitive Agreement
1.
On August 20, 2018, The Company’s wholly owned subsidiary Emotion Fashion Group, Inc. (“EFG”) entered into a
4-year Exclusive Distribution Agreement that became effective as of August 24, 2018 with Global Outlets Group. The Exclusive Distribution
Agreement states that Global Outlets Group will purchase and resell EFG’s Lexi-Luu Dancewear in certain markets in Asia
including Taiwan, Hong Kong, Macao, China and Vietnam.
The
Agreement opens up new markets for the Company to sell its American Made products in territories that it had never sold its products
before. Under the terms of the Agreement, Global Outlets Group and EFG will each earn 50% of the gross profit from each sale made
in the exclusive territories and Global Outlets Group has committed to minimum annual purchases of products under the following
schedule:
(If
Global Outlets Group does not order $1 million in the first year, any unpurchased amounts above $500,000 will be added to the
second year’s commitment)
|
Year 2
|
|
$
|
3,500,000
|
|
|
Year 3
|
|
$
|
6,000,000
|
|
|
Year 4
|
|
$
|
10,000,000
|
|
|
TOTAL
|
|
$
|
20,500,000
|
|
The
Company has mitigated the risks of collecting payments overseas under this Agreement because Global Outlets Group is a U.S. company.
In addition, EFB will receive a 50% down payment when purchase orders are placed with the balance to be paid upon transfer of
ownership of merchandise to Global Outlets Group.
2.
Effective August 27, 2017 12 ReTech Corporation executed a Non-Exclusive Advisory Service Agreement with BMA Securities, LLC (“BMA”)
that was executed on June 15, 2015 but not effective at that time.
BMA,
located in California, USA is a FINRA licensed broker/dealer and investment bank that under the Agreement will provide advisory
services to the Company to source acquisitions, build investor awareness and raise capital among other things
For
these services BMA will earn upon signing 3.5 million newly issued restricted common stock of the Company.
3.Effective
August 14, 2018 12 ReTech Corporation executed an Agreement with StockVest whereby StockVest will provide advertising, promotional
and marketing services. The contract term is August 20, 2018 to November 20, 2018.
SIGNATURES
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.
Date:
August 30, 2018
|
12
Retech Corporation
|
|
|
|
|
|
|
/s/
Angelo Ponzetta
|
|
|
By:
|
Angelo
Ponzetta
|
|
|
Its:
|
Chief
Executive Officer
|
|
12 Retech (CE) (USOTC:RETC)
Historical Stock Chart
From Mar 2024 to Apr 2024
12 Retech (CE) (USOTC:RETC)
Historical Stock Chart
From Apr 2023 to Apr 2024
