secwatch.observer — SEC 8-K summary
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Issuer:     Cardiff Lexington Corp (CDIX)
CIK:        0000811222
Form:       8-K
Filed at:   2022-01-05T23:59:59+00:00
Accession:  0001683168-22-000075
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811222/000168316822000075/0001683168-22-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811222/000168316822000075/cardiff_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-000075

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