Posted On: 09/15/2014 10:24:18 AM
Post# of 72747
SAPX 8k Change Control
3. Items 5.01 and 5.02. At the Closing, all members of the Board of Directors of the Company except Anthony Hickox have resigned and Mr. Richard Bjorklund (“Chairman”) and Mr. Robert Riggs have been appointed to the Board. Mr. Bjorklund and Mr. Riggs’ experience and history are as following:
1. Items 1.01, 2.01 and 5.01. The Company has closed the acquisition of all capital stock of iPTerra Technologies Inc. and all membership interests in Aeronetworks LLC (the “Closing”) from Sanwire Corporation pursuant to the Stock Purchase Agreement dated July 17, 2014 (“Stock Purchase Agreement”) (Item 9.01.1) by issuance of 30,000 shares of its Series D Preferred Stock $100 par value, or $3,000,000 convertible at a price equal to 100% of the volume weighted average price of the Company’s Common Stock for the ten (10) trading days prior to conversion.
7. Item 8.01. The Company intends to change its name to “WirelessConnect, Inc.” to reflect its expanded and changed business plan within the next 30 days.
3. Items 5.01 and 5.02. At the Closing, all members of the Board of Directors of the Company except Anthony Hickox have resigned and Mr. Richard Bjorklund (“Chairman”) and Mr. Robert Riggs have been appointed to the Board. Mr. Bjorklund and Mr. Riggs’ experience and history are as following:
1. Items 1.01, 2.01 and 5.01. The Company has closed the acquisition of all capital stock of iPTerra Technologies Inc. and all membership interests in Aeronetworks LLC (the “Closing”) from Sanwire Corporation pursuant to the Stock Purchase Agreement dated July 17, 2014 (“Stock Purchase Agreement”) (Item 9.01.1) by issuance of 30,000 shares of its Series D Preferred Stock $100 par value, or $3,000,000 convertible at a price equal to 100% of the volume weighted average price of the Company’s Common Stock for the ten (10) trading days prior to conversion.
7. Item 8.01. The Company intends to change its name to “WirelessConnect, Inc.” to reflect its expanded and changed business plan within the next 30 days.
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