---
schema_version: "secwatch.filing_event.v1"
accession: "0001091818-22-000175"
form_type: "8-K"
ticker: "SNTW"
cik: "0001619096"
company_name: "Summit Networks Inc."
filed_at: "2022-12-05T23:59:59+00:00"
generated_at: "2026-06-21T09:37:00.925369+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Summit Networks sells 5M shares to Future Era Tech for $200K; FET to manage subsidiary with control earn-out

## Summary
- FET acquires 5M shares at $0.04/sh ($200K) and will manage Sumnet (Canada), a clean-energy equipment seller.
- If Sumnet achieves 50% of $750K annual profit in first two quarters, FET earns board seat.
- If Sumnet meets $750K profit for 2 consecutive years, FET can buy additional shares at $0.04 and gain control.
- Failure to meet profit targets for 2 consecutive years cancels additional share rights but FET retains management.
- Shares issued under Section 4(2) exemption; restricted legend applied.

## SEC filing metadata
- accession: 0001091818-22-000175
- form_type: 8-K
- ticker: SNTW
- cik: 0001619096
- company_name: Summit Networks Inc.
- filed_at: 2022-12-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1619096/000109181822000175/0001091818-22-000175-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1619096/000109181822000175/sntw11302022form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001091818-22-000175
- JSON: https://secwatch.observer/filing/0001091818-22-000175.json
- Plain text: https://secwatch.observer/filing/0001091818-22-000175.txt

## Key facts
- Material Agreements
  Summit Networks Inc. entered into a equity purchase with Future Era Tech, Inc. ("FET") valued at $200,000.00 (effective 2022-11-30).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Future Era Tech, Inc. ("FET")
  - Value: $200,000.00
  - Effective: 2022-11-30
  source text: On November 30, 2022 Future Era Tech, Inc. (“FET”), a corporation incorporated and existing under the laws of British Columbia entered into a contract with Summit Networks, Inc. (trading in the OTC Markets under the symbol “SNTW”), a corporation incorporated under the laws of the State of Nevada. Under the terms of the Agreement, FET will acquire 5,000,000 shares of common stock of SNTW for $200,000.00.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1619096/000109181822000175/0001091818-22-000175-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.