8-K
filed April 28, 2023, 7:59 PM ET
ticker ADMQ
CIK 0001588014
M&A
confidence high
sentiment neutral
materiality 0.45
ADM ENDEAVORS, INC. (ADMQ): M&A transaction — ADM Endeavors subsidiary acquires embroidery assets for $200K via promissory note
ADM ENDEAVORS, INC.
- Just Right Products buys embroidery equipment and inventory from Innovative Impressions for $200,000.
- Purchase price paid via secured promissory note with 24 monthly installments of $8,333.33, starting May 1, 2023.
- Seller's principal Robert Breese enters consulting agreement: 20% sales commissions and $100,000 of company stock.
- Acquired assets include Tajima, SWF, and Brother embroidery machines, software, and supplies; secured by pledge agreement.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ADM ENDEAVORS, INC. incurred loan of $200,000 with Robert Breese at no interest except upon default maturing April 1, 2025.
- Instrument
- loan
- Principal
- $200,000
- Counterparty
- Robert Breese
- Rate
- no interest except upon default
- Maturity
- April 1, 2025
- Event
- incurrence
Exact text from the filing
“ Seller ”), pursuant to which Just Right Products acquired (the “ Acquisition ”) embroidery equipment, inventory, and related assets (the “ Assets ”), from the Seller for a $200,000 purchase price, to be paid by the issuance by Just Right Products of a $200,000 secured promissory note to the Seller or its nominee (the “ Note ”). On April 27, 2023, the
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
ADM ENDEAVORS, INC. completed an acquisition involving Innovative Impressions, Inc. for $200,000 (closed 2023-04-27).
- Action
- acquisition
- Counterparty
- Innovative Impressions, Inc.
- Consideration
- $200,000
- Closing
- 2023-04-27
Exact text from the filing
“ Seller ”), pursuant to which Just Right Products acquired (the “ Acquisition ”) embroidery equipment, inventory, and related assets (the “ Assets ”), from the Seller for a $200,000 purchase price, to be paid by the issuance by Just Right Products of a $200,000 secured promissory note to the Seller or its nominee (the “ Note ”). On April 27, 2023, the
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
ADM ENDEAVORS, INC. entered into Asset Purchase Agreement with Innovative Impressions, Inc. valued at $200,000 purchase price for embroidery equipment and related assets (effective 2023-04-27).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Innovative Impressions, Inc.
- Value
- $200,000 purchase price for embroidery equipment and related assets
- Effective
- 2023-04-27
Exact text from the filing
On April 27, 2023, Just Right Products, Inc. (“ Just Right Products ”), the wholly-owned Texas subsidiary of the registrant, ADM Endeavors, Inc., a Nevada corporation (the “ Company ”), entered into an Asset Purchase Agreement (the “ Purchase Agreement ”) with Innovative Impressions, Inc., a Texas corporation (the “ Seller ”), pursuant to which Just Right Products acquired (the “ Acquisition ”) embroidery equipment, inventory, and related assets (the “ Assets ”), from the Seller for a $200,000 purchase price, to be paid by the issuance by Just Right Products of a $200,000 secured promissory note to the Seller or its nominee (the “ Note ”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
ADM ENDEAVORS, INC. entered into Promissory Note with Robert Breese valued at $200,000 principal, 24 monthly installments of $8,333.33, no interest except default (effective 2023-04-27).
- Action
- entry
- Counterparty
- Robert Breese
- Value
- $200,000 principal, 24 monthly installments of $8,333.33, no interest except default
- Effective
- 2023-04-27
Exact text from the filing
On April 27, 2023, the Acquisition closed, Just Right Products issued the Note to the Seller’s principal, Robert Breese, Just Right Products entered into a Pledge and Security Agreement with Mr. Breese (the “ Security Agreement ”), and the parties agreed that the Acquisition would be considered effective as of May 1, 2023. The Note does not bear interest except upon default, and it is payable in 24 equal consecutive monthly installments of $8,333.33 beginning May 1, 2023, with the final payment due on April 1, 2025.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
ADM ENDEAVORS, INC. entered into Independent Consulting Agreement with Robert Breese valued at Two-year term, 20% sales commissions, $100,000 in Company stock (effective 2023-04-27).
- Action
- entry
- Counterparty
- Robert Breese
- Value
- Two-year term, 20% sales commissions, $100,000 in Company stock
- Effective
- 2023-04-27
Exact text from the filing
On April 27, 2023, Just Right Products also entered into an Independent Consulting Agreement with Mr. Breese, pursuant to which (i) Mr. Breese will provide embroidery industry consulting and sales services to the company for an initial term of two years, and (ii) Mr. Breese will be paid 20% sales commissions and $100,000 of Company stock, valued as of May 1, 2023 (with such valuation date orally agreed to by the parties).
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.