secwatch.observer — SEC 8-K summary
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Issuer:     Accredited Solutions, Inc. (ASII)
CIK:        0001464865
Form:       8-K
Filed at:   2022-03-11T23:59:59+00:00
Accession:  0001477932-22-001347
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Good Hemp signs merger with Petro X Solutions; issues 100M shares (80% of post-merger equity)
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- Merger with Petro X Solutions: wholly-ownedsubsidiary merges into PXS, PXS becomes Good Hemp subsidiary.
- 100M shares of Good Hemp common stock issued to PXS shareholders, representing ~80% of outstanding shares post-merger.
- New board of directors: Ron F. Sickels, Barry Feinman, William E. Sluss, Fabian G. Deneault, Eric Newlan.
- Closing conditions include approval from both parties, accuracy of reps & warranties, and reformation of promissory notes.
- Merger intended to qualify as tax-free reorganization under Section 368(a).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1464865/000147793222001347/0001477932-22-001347-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1464865/000147793222001347/ghmp_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-22-001347

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer