GIVEMEPOWER CORP: M&A transaction — GiveMePower transfers Alpharidge Capital to Kid Castle in exchange for repurchase of preferred stock

GIVEMEPOWER CORP

On Dec 30, 2021, GiveMePower transferred 100% of Alpharidge Capital, LLC to Kid Castle Educational Corp. for repurchase of 1 million preferred shares (par $0.001) previously sold to Kid Castle.
Entered into Securities Purchase Agreement to merge Alpharidge into Kid Castle, with Alpharidge surviving as a Kid Castle subsidiary.
All assets and liabilities of Alpharidge will no longer be consolidated in GiveMePower financials; they will report under Kid Castle.
Transaction is with a related party: Kid Castle is affiliated with CEO Frank Igwealor.
Repurchased preferred stock will be cancelled immediately after receipt.

item 2.01 item 3.02 item 8.01 item 9.01

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

GIVEMEPOWER CORP completed a disposition involving Kid Castle Educational Corp. (closed 2021-12-30).

Action: disposition
Counterparty: Kid Castle Educational Corp.
Closing: 2021-12-30

Exact text from the filing

On December 30, 2021, as part of its repurchase of unregistered securities it previously sold to Kid Castle Educational Corp., a Delaware Corporation, GiveMePower Corporation transferred its 100% interest in, and control of Alpharidge Capital, LLC (“Alpharidge”), a California Limited Liability Company, in exchange for the One (1) Million Preferred Stock of GiveMePower Corporation at par value of $0.001, which it previously sold to Kid Castle Educational Corp on September 15, 2020.

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Source: SEC EDGAR

accession 0001493152-23-011259

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