AgriForce Growing Systems Completes Acquisition, Files 8-K
Ticker: AVX · Form: 8-K · Filed: Aug 23, 2024 · CIK: 1826397
| Field | Detail |
|---|---|
| Company | Agriforce Growing Systems Ltd. (AVX) |
| Form Type | 8-K |
| Filed Date | Aug 23, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $200,000, $135,000, $57,000, $100,000, $15,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, material-agreement, equity-sale
Related Tickers: AGRI
TL;DR
AGRI closed an acquisition and sold equity on Aug 19th. Details in 8-K.
AI Summary
On August 19, 2024, AgriForce Growing Systems Ltd. reported the completion of an acquisition. The company also entered into a material definitive agreement and disclosed unregistered sales of equity securities. Specific details regarding the acquisition, agreement, and equity sales were filed with the SEC.
Why It Matters
This filing indicates significant corporate activity for AgriForce Growing Systems Ltd., including strategic acquisitions and equity transactions that could impact its future operations and financial structure.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements, completion of acquisitions, and unregistered sales of equity, all of which can carry inherent risks and signal significant changes for the company.
Key Players & Entities
- AGRIFORCE GROWING SYSTEMS LTD. (company) — Registrant
- August 19, 2024 (date) — Earliest event reported
- British Columbia (jurisdiction) — State of incorporation
- 001-40578 (legal_document_id) — SEC File Number
FAQ
What was the nature of the material definitive agreement entered into by AgriForce Growing Systems Ltd. on August 19, 2024?
The filing indicates AgriForce Growing Systems Ltd. entered into a material definitive agreement on August 19, 2024, but specific details are not provided in the header information.
What specific assets or business units were involved in the completed acquisition by AgriForce Growing Systems Ltd.?
The filing confirms the completion of an acquisition by AgriForce Growing Systems Ltd. on August 19, 2024, but the specific details of the acquisition are not detailed in the provided header.
What type of equity securities were sold unregistered by AgriForce Growing Systems Ltd.?
The filing mentions unregistered sales of equity securities by AgriForce Growing Systems Ltd. on August 19, 2024, but the specific type of securities is not detailed in the header.
What is the primary business of AgriForce Growing Systems Ltd. based on its SIC code?
AgriForce Growing Systems Ltd. is classified under SIC code 3448, which pertains to Prefabricated Metal Buildings & Components.
Where is AgriForce Growing Systems Ltd. headquartered?
AgriForce Growing Systems Ltd. is headquartered at 800-525 West 8th Avenue, Vancouver, BC, Canada.
Filing Stats: 892 words · 4 min read · ~3 pages · Grade level 13.4 · Accepted 2024-08-23 16:15:12
Key Financial Figures
- $200,000 — sumption of liabilities as follows: (i) $200,000 (which was previously given to Seller a
- $135,000 — assumption of liabilities consisting of $135,000 principal amount of notes issued by Sel
- $57,000 — ilities of Seller in an amount equal to $57,000. The Company has agreed to fund up to $
- $100,000 — 0. The Company has agreed to fund up to $100,000 per month for the operations of the RCS
- $15,000 — ent, Mr. Slotkin is to be paid a fee of $15,000 per month. He is also entitled to furth
Filing Documents
- form8-k.htm (8-K) — 47KB
- ex99-1.htm (EX-99.1) — 348KB
- ex99-2.htm (EX-99.2) — 98KB
- 0001493152-24-033721.txt ( ) — 786KB
- agri-20240819.xsd (EX-101.SCH) — 4KB
- agri-20240819_def.xml (EX-101.DEF) — 26KB
- agri-20240819_lab.xml (EX-101.LAB) — 36KB
- agri-20240819_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 5KB
01 above
Item 1.01 above. Item 9.01 Exhibits 99.1 Form of Asset Purchase Agreement 99.2 Form of Consulting Agreement 104 Inline XBRL
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: August 23, 2024 AGRIFORCE GROWING SYSTEMS, LTD. By: /s/ Jolie Kahn Jolie Kahn Chief Executive Officer