Focus Universal Inc. Files 8-K for Material Definitive Agreement

TL;DR

FOCUS filed an 8-K for a new material agreement on 7/8. Details TBD.

AI Summary

Focus Universal Inc. entered into a material definitive agreement on July 8, 2024. The company, incorporated in Nevada with its principal executive offices in Ontario, California, filed an 8-K report detailing this agreement. The filing does not disclose specific details of the agreement or any associated dollar amounts.

Why It Matters

This filing indicates a significant new contract or partnership for Focus Universal Inc., which could impact its future business operations and financial performance.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which is significant, but the lack of specific details about the agreement's nature and financial terms introduces uncertainty.

Key Players & Entities

• Focus Universal Inc. (company) — Registrant
• July 8, 2024 (date) — Date of Earliest Event Reported
• Nevada (jurisdiction) — State of Incorporation
• Ontario, California (location) — Address of 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
• $7,460,000 — The purchase price for the Property is $7,460,000 with $2,611,087.50 paid directly to the
• $2,611,087.50 — ice for the Property is $7,460,000 with $2,611,087.50 paid directly to the Company in cash, a
• $4,849,162.50 — the Company in cash, and the remaining $4,849,162.50 to be financed by the Buyer and paid to
• $100,000 — udes a requirement for Buyer to deposit $100,000 into escrow, which has been satisfied.
• $16,804 — on July 31, 2025. Base monthly rent is $16,804, with a total of $58,812 due upon execu
• $58,812 — onthly rent is $16,804, with a total of $58,812 due upon execution of the lease. The f

Filing Documents

• focus_8k.htm (8-K) — 30KB
• focus_ex1001.htm (EX-10.1) — 67KB
• focus_ex1002.htm (EX-10.2) — 173KB
• image_002.jpg (GRAPHIC) — 329KB
• image_003.jpg (GRAPHIC) — 456KB
• image_004.jpg (GRAPHIC) — 437KB
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• image_010.jpg (GRAPHIC) — 348KB
• image_011.jpg (GRAPHIC) — 141KB
• image_012.jpg (GRAPHIC) — 331KB
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• image_014.jpg (GRAPHIC) — 434KB
• image_015.jpg (GRAPHIC) — 436KB
• image_016.jpg (GRAPHIC) — 488KB
• image_017.jpg (GRAPHIC) — 482KB
• image_018.jpg (GRAPHIC) — 457KB
• image_019.jpg (GRAPHIC) — 446KB
• image_020.jpg (GRAPHIC) — 467KB
• image_021.jpg (GRAPHIC) — 433KB
• image_022.jpg (GRAPHIC) — 460KB
• image_023.jpg (GRAPHIC) — 458KB
• image_024.jpg (GRAPHIC) — 436KB
• image_025.jpg (GRAPHIC) — 444KB
• image_026.jpg (GRAPHIC) — 444KB
• image_027.jpg (GRAPHIC) — 367KB
• image_028.jpg (GRAPHIC) — 260KB
• image_029.jpg (GRAPHIC) — 30KB
• image_030.jpg (GRAPHIC) — 389KB
• image_031.jpg (GRAPHIC) — 356KB
• 0001683168-24-004922.txt ( ) — 16979KB
• fcuv-20240708.xsd (EX-101.SCH) — 3KB
• fcuv-20240708_lab.xml (EX-101.LAB) — 33KB
• fcuv-20240708_pre.xml (EX-101.PRE) — 22KB
• focus_8k_htm.xml (XML) — 3KB

01

ITEM 1.01 Entry into a Material Definitive Agreement On May 7, 2024, Focus Universal Inc. (the "Company") entered into an agreement (the "Agreement") with Silver Music 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 $7,460,000 with $2,611,087.50 paid directly to the Company in cash, and the remaining $4,849,162.50 to be financed by the Buyer and paid to the Company upon approval of the financing. The Agreement allowed 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 July 8, 2024, the Company entered into a Standard Industrial/Commercial Single-Tenant Lease (the "Lease") with the Veena Asset Management, LLC to lease the Property for one year commencing at the close of escrow and ending on July 31, 2025. Base monthly rent is $16,804, with a total of $58,812 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, and 104 respectively are incorporated by reference into this Item 1.01.

01

ITEM 9.01 Financial (d) Exhibits Exhibit No. Description 10.1 Standard Offer, Agreement, and Escrow Instructions between Silver Music LLC and Focus Universal Inc. dated May 7, 2024 10.2 Standard Industrial/Commercial Single-Tenant Lease between Veena Asset Management LLC and Focus Universal Inc. dated July 8, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 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: July 17, 2024 FOCUS UNIVERSAL, INC. By: /s/ Desheng Wang Name: Desheng Wang Title: Chief Executive Officer 3 Exhibit Index Exhibit No. Description 10.1 Standard Offer, Agreement, and Escrow Instructions between Silver Music LLC and Focus Universal Inc. dated May 7, 2024 10.2 Standard Industrial/Commercial Single-Tenant Lease between Veena Asset Management LLC and Focus Universal Inc. dated July 8, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 4

View Full Filing

View this 8-K filing on SEC EDGAR