Flowerkist Skin Care & Cosmetics, Inc.: M&A transaction — Flowerkist (FKST) buys assets for $4.465M in stock, exits shell status

Flowerkist Skin Care & Cosmetics, Inc.

Acquisition of CBD skincare inventory, trademarks, website, and ProVEDA contracts from Flowerkist, Inc. (related party).
Purchase price $4,465,000 paid in restricted FKST shares to Seller's shareholders.
Assets include 5% revenue share on ProVEDA (future value up to $7.8M) and warrants for 7.65M ProVEDA shares at $0.30.
Company ceases to be a shell company as of March 20, 2023, due to acquisition of substantial assets.
Transaction effective immediately; company will start marketing products as soon as practicable.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Flowerkist Skin Care & Cosmetics, Inc.: Company's status as a shell company changed; it is no longer a shell company effective March 20, 2023 (effective 2023-03-20).

Change: shell status
Effective: 2023-03-20

Exact text from the filing

Flowerkist Skin Care and Cosmetics, Inc. (the “Company”) was previously a shell company. Effective March 20, 2023, the Company’s status as a shell company has changed and is no longer a shell company.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Flowerkist Skin Care & Cosmetics, Inc. completed an acquisition involving Flowerkist, Inc. for $4,465,000 (closed 2023-03-20).

Action: acquisition
Counterparty: Flowerkist, Inc.
Consideration: $4,465,000
Closing: 2023-03-20

Exact text from the filing

Cosmetics, Inc., effective immediately. Flowerkist Skin Care and Cosmetics, Inc. will start marketing and selling these products as soon as practicable. The purchase price of $4,465,000 will be paid with issuance of restricted stocks of OTC: FKST, to current shareholders of the Seller. The purchase price was determined by applying a discount to the full value of

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Source: SEC EDGAR

accession 0001829126-23-002174

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