Summit Networks Inc. Files 8-K for Material Agreement

TL;DR

Summit Networks Inc. just filed an 8-K for a big deal. Details TBD.

AI Summary

On April 8, 2024, Summit Networks Inc. filed an 8-K report detailing a material definitive agreement. The filing also includes financial statements and exhibits, though specific details of the agreement and financial figures were not provided in the excerpt.

Why It Matters

This filing indicates a significant new development or contract for Summit Networks Inc., which could impact its business operations and financial performance.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could carry significant risks or rewards depending on the nature of the contract.

Key Players & Entities

• Summit Networks Inc. (company) — Registrant
• April 8, 2024 (date) — Date of Report
• Nevada (jurisdiction) — State of Incorporation
• 3010-8888 Odlin Cresent, Richmond, BC Canada V6X 3Z8 (address) — Principal Executive Offices

FAQ

Filing Documents

• sntw048248k.htm (8-K) — 23KB
• ex10_1.htm (EX-10.1) — 2KB
• ex101001.jpg (GRAPHIC) — 319KB
• ex101002.jpg (GRAPHIC) — 445KB
• ex101003.jpg (GRAPHIC) — 371KB
• ex101004.jpg (GRAPHIC) — 331KB
• ex101005.jpg (GRAPHIC) — 321KB
• ex101006.jpg (GRAPHIC) — 342KB
• ex101007.jpg (GRAPHIC) — 279KB
• ex101008.jpg (GRAPHIC) — 226KB
• 0001091818-24-000038.txt ( ) — 3820KB
• sntw-20240408.xsd (EX-101.SCH) — 3KB
• sntw-20240408_lab.xml (EX-101.LAB) — 33KB
• sntw-20240408_pre.xml (EX-101.PRE) — 22KB
• sntw048248k_htm.xml (XML) — 3KB

01 - Entry Into a Material Definitive Agreement

ITEM 1.01 - Entry Into a Material Definitive Agreement. On April 8, 2024 Summit Networks, Inc. ("SNTW") entered into a stock purchase agreement with the shareholders of St. Mega Enterprises, a Canadian corporation, located in British Columbia Canada, ("Mega"). Under the terms of the stock purchase agreement, SNTW will acquire all the outstanding common stock of Mega and Mega will become a wholly owned subsidiary of SNTW. The shareholders of Mega will receive 20,000,000 shares of the common stock of SNTW. The transaction has been approved by the Board of Directors of SNTW, subject to certain contingencies. In addition, the final closing will be subject to completion following all necessary due diligence issues and regulatory approvals. Mega has more than thirty (30) years of experience in the business of designing, manufacturing, and installing wood products, including cabinets and the construction of houses. Certain statements contained in this Current Report on Form 8-K are forward-looking risks and uncertainties. SNTW's forward-looking statements in this report are made as of the date hereof, and the Corporation disclaims any duty to supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Corporation is identifying certain forward-looking information regarding the proposed transaction. Actual events or results may differ materially from those contained in these forward-looking statements. Important factors that could cause further events or results to vary from those addressed in the forward-looking statement include, without limitation, risks and uncertainties arising from the ability of SNTW to successfully complete this transa

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits Exhibit No. Description 10.1 Stock Purchase Agreement

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. Summit Networks Inc. Date: April 8, 2024 By: /s/Shuhua Liu Shuhua Liu President (Principal Executive Officer) -2-

View Full Filing

View this 8-K filing on SEC EDGAR