PZOO 0005 going Fast on HUGE 8-K, Item 2.01 Compl
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Posted On: 11/30/2017 10:16:45 AM
PZOO 0005 going Fast on HUGE 8-K, Item 2.01 Completion of Acquisition or Disposition of Assets.
On November 22, 2017, Pazoo, Inc. (the "Company"
, pursuant to a certain Limited Liability Company Membership Interest Purchase Agreement (the "Agreement" , sold a seventy percent (70%) Membership Interest in its wholly owned subsidiary MA & Associates LLC to MA Analytics, LLC, an entity owned and managed by Mark Sarna, a lender to the Company. The sale was based on an enterprise value of MA & Associates LLC of $2,176,810. The purchase price for the purchased interest was $1,523,767, of which $492,227.30 was paid in the form of cash and $1,031,539.70 in the form of the retirement of outstanding loans, including accrued interest, made by Mark Sarna to the Company. The Agreement also provides that MA Analytics, LLC has the option, exercisable over the next 18 months, to purchase an additional 10 percent (10%) Membership Interest in MA & Associates LLC at a 4% to 10% valuation premium depending on when the Las Vegas, Nevada testing laboratory opens. Before any distributions are made to the members of MA & Associates, LLC, certain existing loans made by Mark Sarna to the Company and MA & Associates LLC, presently totaling approximately $461,000 in principal and accrued interest, will be repaid; thereafter, certain of the remaining non-convertible loans made by Mark Sarna and/or associated lenders to the Company, in the approximate amount of $304,000, may, at the discretion of MA Analytics, LLC, be repaid out of the Company's thirty percent (30%) profit participation interest. The foregoing description of the Agreement does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the Agreement, a copy of which is attached hereto as Exhibit 2.1 and is incorporated herein by reference.
http://www.otcmarkets.com/stock/PZOO/profile
On November 22, 2017, Pazoo, Inc. (the "Company"
, pursuant to a certain Limited Liability Company Membership Interest Purchase Agreement (the "Agreement" , sold a seventy percent (70%) Membership Interest in its wholly owned subsidiary MA & Associates LLC to MA Analytics, LLC, an entity owned and managed by Mark Sarna, a lender to the Company. The sale was based on an enterprise value of MA & Associates LLC of $2,176,810. The purchase price for the purchased interest was $1,523,767, of which $492,227.30 was paid in the form of cash and $1,031,539.70 in the form of the retirement of outstanding loans, including accrued interest, made by Mark Sarna to the Company. The Agreement also provides that MA Analytics, LLC has the option, exercisable over the next 18 months, to purchase an additional 10 percent (10%) Membership Interest in MA & Associates LLC at a 4% to 10% valuation premium depending on when the Las Vegas, Nevada testing laboratory opens. Before any distributions are made to the members of MA & Associates, LLC, certain existing loans made by Mark Sarna to the Company and MA & Associates LLC, presently totaling approximately $461,000 in principal and accrued interest, will be repaid; thereafter, certain of the remaining non-convertible loans made by Mark Sarna and/or associated lenders to the Company, in the approximate amount of $304,000, may, at the discretion of MA Analytics, LLC, be repaid out of the Company's thirty percent (30%) profit participation interest. The foregoing description of the Agreement does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the Agreement, a copy of which is attached hereto as Exhibit 2.1 and is incorporated herein by reference. http://www.otcmarkets.com/stock/PZOO/profile
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