As used in this report, the terms “Company,” “our company,” “us,” “BOTS,”, “we” and “our” refer to BOTS, INC. unless the context requires otherwise Item 1.01 Entry into a Material Definitive Agreement. Asset Purchase On May 14, 2020 the Company entered into an Asset Purchase Agreement where the Company acquired the following assets from First Bitcoin Capital Corp.: |
n Minority ownership in SinglePoint, Inc., Medical Cannabis Payment Solutions, Inc., Petroteg Energy, Inc., Digital Asset Monetary Network, Inc., Kronos Advanced Technologies, Inc., and Tipestry, Inc. |
In exchange for the acquisition of these assets the Company issued 100,000,000 shares of common stock and 30,000,000 Series A Preferred stock to First Bitcoin Capital, with a pledge to issue an additional 60,000,000 shares of Series A Preferred upon reaching certain milestones. All Series A Preferred shares are to be retained by First Bitcoin Capital Corp. The 100,000,000 million shares of common stock are to be distributed to the shareholders of First Bitcoin Capital, where each shareholder shall be issued 1 share of MCIG common stock for every 4 shares of First Bitcoin Capital stock owned with any remaining shares to be retained by First Bitcoin Capital Corp.upon a record date being set by First Bitcoin Capital Corp. Item 1.02 Termination of a Material Definitive Agreement. BRRX Clinical Joint Venture Termination On June 15, 2020 the Company entered into a settlement agreement with Bareroots RX, Inc., terminating the joint venture called BRRX Clinical, Inc. As a condition of the termination, which expressly incorporates no admission of liability, the Company received $95,689 and the return of all the stock issued (2,000,000 shares of MCIG common stock) as a part of the settlement. Item 8.01 Other Events. On July 8, 202 FINRA approved the Company’s name change to BOTS, Inc. with the new symbol BTZI (btzi) effective July 9, 2020. |
