8-K
filed August 29, 2023, 7:59 PM ET
ticker VEST
CIK 0001594968
M&A
confidence high
sentiment neutral
materiality 0.85
Loan Artificial Intelligence Corp. (VEST): M&A transaction — Vestiage changes control; Well Profit acquires 84.5% of common for $335k
Loan Artificial Intelligence Corp.
- Small Cap Compliance sold 300,000 shares of Convertible Series D Preferred (100% of class) to Well Profit Holdings for $335,000; Well Profit received 305,000,000 restricted common shares.
- Change in control effective Aug 25, 2023; Well Profit now holds 100% of Series D Preferred and 84.5% of total common shares outstanding.
- Rhonda Keaveney resigned as sole officer and director; Raymond Fu appointed CEO, CFO, Treasurer, and Director; Timothy Lam appointed Secretary.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Raymond Fu was appointed as CEO, CFO, Treasurer, and Director at Loan Artificial Intelligence Corp..
- Action
- appointed
- Role
- CEO, CFO, Treasurer, and Director
Exact text from the filing
Raymond Fu as its CEO, CFO, Treasurer, and Director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rhonda Keaveney resigned as Sole Officer and Director at Loan Artificial Intelligence Corp..
- Action
- resigned
- Role
- Sole Officer and Director
Exact text from the filing
Effective August 25, 2023, the Company accepted the resignation of Rhonda Keaveney as the sole Officer of the Company and as the sole member of the Company’s Board of Directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Timothy Lam was appointed as Secretary at Loan Artificial Intelligence Corp..
- Action
- appointed
- Role
- Secretary
Exact text from the filing
Timothy Lam as its Secretary
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Loan Artificial Intelligence Corp. underwent a change of control involving Well Profit Holdings Limited for $335,000 (closed 2023-08-23).
- Action
- change of control
- Counterparty
- Well Profit Holdings Limited
- Consideration
- $335,000
- Closing
- 2023-08-23
Exact text from the filing
shares of Convertible Series D Preferred Stock to Well Profit Holdings Limited and the Company issued 305,000,000 shares of Restricted Common Stock for the purchase price of $335,000. The Agreement was fully executed on August 23, 2023. (See Exhibit 10.2) rofit Holdings Limited and the Company issued 305,000,000 shares of Restricted Common Stock for the
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Loan Artificial Intelligence Corp. entered into Stock Purchase Agreement with Well Profit Holdings Limited valued at $335,000 (effective 2023-05-25).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Well Profit Holdings Limited
- Value
- $335,000
- Effective
- 2023-05-25
Exact text from the filing
On May 25, 2023, the registrant’s majority shareholder, Small Cap Compliance, LLC, entered into a Stock Purchase Agreement (the “Agreement”) with Well Profit Holdings Limited.
View on SEC.gov
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