8-K
filed March 3, 2025, 6:59 PM ET
ticker AGIG
CIK 0001156041
other material
confidence high
sentiment negative
materiality 0.75
ABUNDIA GLOBAL IMPACT GROUP, INC. (AGIG): restructuring charge — Houston American Energy sells 18% Hupecol Meta stake for $1, confirms $6.4M impairment
ABUNDIA GLOBAL IMPACT GROUP, INC.
- Sold its ~18% membership interest in Hupecol Meta LLC for $1.00.
- Buyer assumed all liabilities related to Hupecol Meta's Colombian branches.
- Transaction confirms the $6,392,874 impairment charge reported in 10-K for FY2024.
- Sale closed on February 25, 2025 upon execution of MIPA and Assignment Agreement.
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
ABUNDIA GLOBAL IMPACT GROUP, INC. completed a disposition involving Andes Operating Company LLC for $1.00 (closed 2025-02-25).
- Action
- disposition
- Counterparty
- Andes Operating Company LLC
- Consideration
- $1.00
- Closing
- 2025-02-25
Exact text from the filing
the “ MIPA ”) with Andes Operating Company LLC (“ Buyer ”) for the sale of the Company’s interest in Hupecol Meta LLC (“ Hupecol Meta ”).
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
ABUNDIA GLOBAL IMPACT GROUP, INC. announced a impairment with charges of $6,392,874 affecting Hupecol Meta.
- Type
- impairment
- Charge
- $6,392,874
- Affected area
- Hupecol Meta
Exact text from the filing
The Company took an impairment charge of $6,392,874 related to its investment in Hupecol Meta.
View on SEC.gov
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