DLT Resolution Inc. (DLTI): M&A transaction — DLT Resolution acquires Global Motor Trade Group ($50.9M revenue) for shares; appoints Brofman

DLT Resolution Inc.

Acquired Global Motor Trade Group (annual gross revenue $50.858M) via share exchange.
Consideration: up to 14% of DLTI shares (6,020,000 shares) plus earn-out shares based on gross profit.
Earn-out: up to 1,111,000 shares if first-year gross profit >= $4.25M; 1,666,000 if second-year >= $5.25M.
Charles Brofman appointed Dir., General Counsel, Sec.; $125K salary for 75% time.
Brofman also managing member of acquired entities; not independent director.

item 1.01 item 2.01 item 5.02 item 9.01

Executive movements

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Appointed

Charles Brofman

Director, General Counsel and Secretary

DLTI · DLT Resolution Inc.

Effective: 2024-03-13
Filed: March 19, 2024, 7:59 PM ET

On March 13, 2024 Charles Brofman was appointed Director, General Counsel and Secretary.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Charles Brofman was appointed as Director, General Counsel and Secretary at DLT Resolution Inc..

Action: appointed
Role: Director, General Counsel and Secretary

Exact text from the filing

On March 13, 2024 Charles Brofman was appointed Director, General Counsel and Secretary.

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

DLT Resolution Inc. completed an acquisition involving Global Motor Trade LLC, Global Motor Trade International LLC, SJ Auto Trade LLC, WEC International LLC and their beneficial owners for issuing shares at a current value of .005 USD per share (closed 2024-03-11).

Action: acquisition
Counterparty: Global Motor Trade LLC, Global Motor Trade International LLC, SJ Auto Trade LLC, WEC International LLC and their beneficial owners
Consideration: issuing shares at a current value of .005 USD per share
Closing: 2024-03-11

Exact text from the filing

gross revenue of USD $50,858,000. Consideration for purchase The Purchase Price shall be satisfied in the following manner at Closing by issuing shares at a current value of .005 USD per share its current trading value on the Over the Counter market The issuance of DLT Resolution Shares in a number representing The Initial Purchase Price of the Transaction

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DLT Resolution Inc. entered into Share Purchase Agreement with Global Motor Trade LLC, Global Motor Trade International LLC, SJ Auto Trade LLC, WEC International LLC valued at combined annual gross revenue of USD $50,858,000 (effective 2024-03-11).

Action: entry
Agreement: asset purchase
Counterparty: Global Motor Trade LLC, Global Motor Trade International LLC, SJ Auto Trade LLC, WEC International LLC
Value: combined annual gross revenue of USD $50,858,000
Effective: 2024-03-11

Exact text from the filing

On March 11, 2024, DLT Resolution Inc. (the “ Company ” or “ we ”) entered into and closed the transactions contemplated by the definitive share purchase agreement (share for share exchange) (the “ Share Purchase Agreement ”) by and among the Companies,Global Motor Trade LLC, Global Motor Trade International LLC, SJ Auto Trade LLC, WEC International LLC.

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91 m&a transactions filed in the last 30 days. Browse all m&a transactions →

DLT Resolution Inc. filing history →

Source: SEC EDGAR

accession 0001477932-24-001313

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