---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-22-001519"
form_type: "8-K"
ticker: "GAMG"
cik: "0000055234"
company_name: "Global Asset Management Group, Inc."
filed_at: "2022-03-21T23:59:59+00:00"
generated_at: "2026-06-26T21:31:50.492394+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Kenilworth Systems sells principal assets back to ACL Group, extinguishing $300M note

## Summary
- On March 17, 2022, Kenilworth sold its proprietary IP and databases to ACL Group for cancellation of a $300M secured promissory note.
- The assets were originally acquired from ACL on Sept 23, 2021 for the same $300M note; cash flow from commercialization was insufficient to service the debt.
- The $300M principal plus accrued interest at 5% was satisfied and extinguished upon the sale.
- Kenilworth's management determined the assets would not generate enough cash flow to meet debt service obligations, prompting the reversal.
- The sale constitutes a disposition of all of Kenilworth's principal assets, leaving the company with no major operating assets.

## SEC filing metadata
- accession: 0001477932-22-001519
- form_type: 8-K
- ticker: GAMG
- cik: 0000055234
- company_name: Global Asset Management Group, Inc.
- filed_at: 2022-03-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/55234/000147793222001519/0001477932-22-001519-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/55234/000147793222001519/kens_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-22-001519
- JSON: https://secwatch.observer/filing/0001477932-22-001519.json
- Plain text: https://secwatch.observer/filing/0001477932-22-001519.txt

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