FOCUS UNIVERSAL INC. Reports Material Definitive Agreement

TL;DR

FOCUS UNIVERSAL INC. just filed an 8-K about a new material agreement, but the details aren't public yet.

AI Summary

FOCUS UNIVERSAL INC. filed an 8-K on February 27, 2024, reporting an "Entry into a Material Definitive Agreement" with an earliest event date of February 22, 2024. The specific terms, parties, and financial details of this agreement are not provided in the excerpt of the filing. The company's business address is 2311 East Locust Street, Ontario, California 91761.

Why It Matters

The entry into a material definitive agreement signifies a significant corporate event that could impact FOCUS UNIVERSAL INC.'s operations, financial position, or strategic direction. Investors typically monitor such filings for details that may influence the company's future performance and stock valuation.

Risk Assessment

Risk Level: medium — The specific terms and financial implications of the "Material Definitive Agreement" are not disclosed in the provided filing excerpt, making it impossible to assess the associated risks or opportunities.

Key Numbers

• February 22, 2024 — Earliest Event Date (Date of the reported material definitive agreement)
• February 27, 2024 — Filing Date (Date the 8-K was filed with the SEC)
• 001-40770 — SEC File Number (Company's SEC file number)

Key Players & Entities

• FOCUS UNIVERSAL INC. (company) — Registrant
• Nevada (location) — State of Incorporation
• Ontario, California (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common stock, $0.001 par value per share FCUV The Nasdaq S
• $7,100,000 — The purchase price for the Property is $7,100,000 with $3,550,000 paid directly to the Co
• $3,550,000 — ice for the Property is $7,100,000 with $3,550,000 paid directly to the Company in cash, a
• $100,000 — udes a requirement for Buyer to deposit $100,000 into escrow, which has been satisfied.
• $39,585 — on April 30, 2026. Base monthly rent is $39,585, with a total of $316,680 due upon exec
• $316,680 — onthly rent is $39,585, with a total of $316,680 due upon execution of the lease. The f

Filing Documents

• focus_8k.htm (8-K) — 27KB
• focus_ex1001.htm (EX-10.1) — 87KB
• focus_ex1002.htm (EX-10.2) — 18KB
• focus_ex1003.htm (EX-10.3) — 168KB
• focus_ex1004.htm (EX-10.4) — 5KB
• image_001.jpg (GRAPHIC) — 187KB
• image_002.jpg (GRAPHIC) — 285KB
• image_003.jpg (GRAPHIC) — 263KB
• image_004.jpg (GRAPHIC) — 291KB
• image_005.jpg (GRAPHIC) — 274KB
• image_006.jpg (GRAPHIC) — 251KB
• image_007.jpg (GRAPHIC) — 225KB
• image_008.jpg (GRAPHIC) — 261KB
• image_009.jpg (GRAPHIC) — 249KB
• image_010.jpg (GRAPHIC) — 104KB
• image_011.jpg (GRAPHIC) — 246KB
• image_012.jpg (GRAPHIC) — 206KB
• image_013.jpg (GRAPHIC) — 196KB
• image_014.jpg (GRAPHIC) — 294KB
• image_015.jpg (GRAPHIC) — 289KB
• image_016.jpg (GRAPHIC) — 297KB
• image_017.jpg (GRAPHIC) — 298KB
• image_018.jpg (GRAPHIC) — 287KB
• image_019.jpg (GRAPHIC) — 284KB
• image_020.jpg (GRAPHIC) — 292KB
• image_021.jpg (GRAPHIC) — 268KB
• image_022.jpg (GRAPHIC) — 276KB
• image_023.jpg (GRAPHIC) — 284KB
• image_024.jpg (GRAPHIC) — 268KB
• image_025.jpg (GRAPHIC) — 273KB
• image_026.jpg (GRAPHIC) — 261KB
• image_027.jpg (GRAPHIC) — 237KB
• image_028.jpg (GRAPHIC) — 141KB
• image_030.jpg (GRAPHIC) — 136KB
• 0001683168-24-001218.txt ( ) — 10532KB
• fcuv-20240222.xsd (EX-101.SCH) — 3KB
• fcuv-20240222_lab.xml (EX-101.LAB) — 33KB
• fcuv-20240222_pre.xml (EX-101.PRE) — 22KB
• focus_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. On February 22, 2024, Focus Universal Inc. (the "Company") entered into an agreement (the "Agreement") with 620Magnolia LLC (the "Buyer") to sell and leaseback the Company's warehouse located at 2311 E. Locust Street, Ontario, California 91761 (the "Property"). The purchase price for the Property is $7,100,000 with $3,550,000 paid directly to the Company in cash, and the remaining $3,550,000 to be financed by the Buyer and paid to the Company upon approval of the financing. The Agreement allows for a contingency period of thirty-five days and includes a requirement for Buyer to deposit $100,000 into escrow, which has been satisfied. Additional contingencies are set forth in the Agreement and the closing date will occur 30 days after their satisfaction or waiver. In addition, on February 22, 2024, the Company entered into a Standard Industrial/Commercial Single-Tenant Lease (the "Lease") with the Buyer to lease the Property for two years commencing at the close of escrow and ending on April 30, 2026. Base monthly rent is $39,585, with a total of $316,680 due upon execution of the lease. The foregoing summary of the terms and conditions of the Agreement, Lease, Guaranty of Lease, and Rent Adjustments are attached to this Current Report on Form 8-K as Exhibits 10.1, 10.2, 10.3, and 10.4 respectively are incorporated by reference into this Item 1.01.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Standard Offer for Purchase of Real Estate 10.2 Guaranty of Lease 10.3 Lease Agreement 10.4 Rent Adjustment(s) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 27, 2024 FOCUS UNIVERSAL, INC. By: /s/ Desheng Wang Name: Desheng Wang Title: Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR