LUDWIG ENTERPRISES, INC. (LUDG): M&A transaction — Ludwig Enterprises sells Exousia Ai to Marijuana, Inc. for $500K in stock and note

LUDWIG ENTERPRISES, INC.

Sold 100% of Exousia Ai to Marijuana, Inc. (MAJI) for $500,000 total consideration.
Consideration: 47M shares of MAJI common stock and a $100K promissory note at 8% interest, due Dec 31, 2025.
Ludwig agreed to a lock-up of the MAJI shares until six months after MAJI's uplisting to NASDAQ or NYSE American.
Closing occurred on January 1, 2025, following board approval to focus on Revealia test kit products.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

LUDWIG ENTERPRISES, INC. completed a disposition involving Marijuana, Inc. for $500,000, payable by Purchaser by delivery of (a) 47,000,000 shares of Purchaser common stock and (b) a $100,000 principal amount promissory note (closed 2025-01-01).

Action: disposition
Counterparty: Marijuana, Inc.
Consideration: $500,000, payable by Purchaser by delivery of (a) 47,000,000 shares of Purchaser common stock and (b) a $100,000 principal amount promissory note
Closing: 2025-01-01

Exact text from the filing

100% ownership of a subsidiary of the Company, Exousia Ai, Inc., a Wyoming corporation ( “Exousia” ). The purchase price under the Exousia SPA for 100% ownership of Exousia is $500,000, payable by Purchaser by delivery of (a) 47,000,000 shares of Purchaser common stock (the “Purchaser Shares” ) and (b) a $100,000 principal amount promissory note (the “Purchaser

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Source: SEC EDGAR

accession 0001213900-25-001275

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