secwatch.observer — SEC 8-K summary
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Issuer:     Universal Gaming Corp (—)
CIK:        0001670196
Form:       8-K
Filed at:   2023-03-28T23:59:59+00:00
Accession:  0001477932-23-001805
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 5.06, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Deseo Swimwear acquires IP assets and gaming licenses; contributor gets ~91.66% control
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- Acquires IP assets including sublicense of Gaming License No. 8048/JAZ2020-054 from Curacao, URLs beteurosport.com and betswiss.com.
- Issues 240M shares at $0.001 par value; immediate issuance of ~135.7M shares to Blue Circle Enterprises (majority-owned by sole officer/director).
- Contributor (Blue Circle) and affiliates to hold ~91.66% of fully diluted common stock; other shareholders hold ~7.34%.
- Company ceases to be a shell company due to acquisition of material assets with over $21M in R&D expenditures.
- Shareholders approved increase in authorized common stock from 200M to 500M shares to facilitate issuance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1670196/000147793223001805/0001477932-23-001805-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1670196/000147793223001805/dswr_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-23-001805

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