Cardiff Lexington sells Key Tax subsidiary to management for $2.6M via stock swap

Cardiff Lexington Corp

Sale of JM Enterprises1 (dba Key Tax) to managers Kelly Gibson and Ron Clere via exchange of Preferred "G" shares valued at $2,601,952.
Employees resign effective Dec 31, 2021; company retains access to 2021 financials for SEC filings.
Buyers agree to 3-year non-solicitation and confidentiality covenants; both parties release all claims.
Preferred "G" shares have par $0.001 and stated value $4.00 per share; deal structured as tax-free exchange under IRC Section 368(a)(1)(B).

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