Hubilu Venture Corp. Reports Material Agreement and Asset Deal
Ticker: HBUV · Form: 8-K · Filed: Jul 2, 2024 · CIK: 1639068
Sentiment: neutral
Topics: material-agreement, asset-acquisition, asset-disposition
Related Tickers: HBUV
TL;DR
Hubilu Venture Corp just made a big deal and bought/sold assets.
AI Summary
On July 1, 2024, Hubilu Venture Corp. entered into a material definitive agreement and completed an acquisition or disposition of assets. The company, incorporated in Delaware, is involved in real estate operations and lessors.
Why It Matters
This filing indicates significant corporate activity for Hubilu Venture Corp., suggesting potential changes in its asset base or business structure.
Risk Assessment
Risk Level: medium — The filing details a material definitive agreement and asset acquisition/disposition, which can carry inherent risks depending on the nature and terms of the transaction.
Key Players & Entities
- Hubilu Venture Corp (company) — Registrant
- July 1, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- 47-3342387 (identifier) — I.R.S. Employer Identification No.
- 000-55611 (identifier) — Commission File Number
- 205 S. Beverly Drive, Suite 205, Beverly Hills, California 90212 (address) — Principal Executive Offices
FAQ
What type of material definitive agreement did Hubilu Venture Corp. enter into?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on July 1, 2024.
What was the nature of the asset acquisition or disposition?
The filing states that the completion of an acquisition or disposition of assets occurred on July 1, 2024, but does not provide details on the specific assets or transaction.
When was Hubilu Venture Corp. incorporated?
Hubilu Venture Corp. was incorporated in Delaware.
What is the principal business address of Hubilu Venture Corp.?
The principal executive offices are located at 205 S. Beverly Drive, Suite 205, Beverly Hills, California 90212.
What is the SIC code for Hubilu Venture Corp.?
The Standard Industrial Classification code is 6510, which corresponds to Real Estate Operators (No Developers) & Lessors.
Filing Stats: 972 words · 4 min read · ~3 pages · Grade level 11.9 · Accepted 2024-07-02 06:06:08
Key Financial Figures
- $670,000 — nue in Los Angeles. The acquisition for $670,000 closed on June 27, 2024. The foregoin
- $4,773.75 — only payable in monthly installments of $4,773.75 or more on the 1st day of each month be
- $175,000 — on, shall become due and payable. (2) A $175,000 second position note owing by Mopane to
- $875.00 — only payable in monthly installments of $875.00 or more on the 1st day of each month be
Filing Documents
- form8-k.htm (8-K) — 48KB
- ex10-1.htm (EX-10.1) — 8KB
- ex10-1_001.jpg (GRAPHIC) — 378KB
- ex10-1_002.jpg (GRAPHIC) — 232KB
- ex10-1_003.jpg (GRAPHIC) — 334KB
- ex10-1_004.jpg (GRAPHIC) — 107KB
- ex10-1_005.jpg (GRAPHIC) — 47KB
- ex10-1_006.jpg (GRAPHIC) — 260KB
- ex10-1_007.jpg (GRAPHIC) — 249KB
- ex10-1_008.jpg (GRAPHIC) — 48KB
- 0001493152-24-025896.txt ( ) — 2542KB
- hbuv-20240701.xsd (EX-101.SCH) — 3KB
- hbuv-20240701_def.xml (EX-101.DEF) — 26KB
- hbuv-20240701_lab.xml (EX-101.LAB) — 35KB
- hbuv-20240701_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
01 by reference
Item 1.01 by reference. Item 2.01 Completion of Acquisition of Assets. (a) On June 27, 2024, the Company, through its subsidiary, Mopane Investments, LLC, closed on the acquisition of the real property located at 1460 North Eastern Avenue in Los Angeles. The property was partially vacant at the time of purchase. The acquisition was for $670,000. The Mopane purchase is subject to two loans as follows: (1) $670,000 first position note owing by Mopane to LendingOne, LLC ("LendingOne"), whose terms of payments due were interest only, payable on unpaid principal at the rate of 9.50% per annum. Interest only payable in monthly installments of $4,773.75 or more on the 1st day of each month beginning on the 1st day of August 2024 and continuing until the 1st day of April 2025, at which time the entire principal balance together with interest due thereon, shall become due and payable. (2) A $175,000 second position note owing by Mopane to Belladonna Lily Investments, Inc. ("Belladonna"), whose terms of payments due were interest only, payable on unpaid principal at the rate of 6% per annum. Interest only payable in monthly installments of $875.00 or more on the 1st day of each month beginning on the 1st day of July 2024 and continuing until the 30th day of June 2029, at which time the entire principal balance together with interest due thereon, shall become due and payable. The foregoing description of the acquisition of the Eastern Agreement and the transaction contemplated thereby contained herein is qualified in its entirety by reference to the Eastern Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated into this
01 by reference
Item 1.01 by reference. 2
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 hereunto duly authorized. Dated: July 2, 2024 HUBILU VENTURE CORPORATION By: /s/ David Behrend Name: David Behrend Title: Chief Executive Officer 3 EXHIBIT INDEX Exhibit Number Description 10.1 Purchase Contract, Assignment, and Amendment among Mopane Investments, LLC and David A., Victor A., Paul A., and Edmund A. Garcia. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 4