Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
This Form 8-K and other reports filed by Registrant from time to time with the Securities and Exchange Commission (collectively the "Filings") contain or may contain forward looking statements and information that are based upon beliefs of, and information currently available to, Registrant's management as well as estimates and assumptions made by Registrant's management. When used in the filings the words "anticipate", "believe", "estimate", "expect", "future", "intend", "plan" or the negative of these terms and similar expressions as they relate to Registrant or Registrant's management identify forward looking statements. Such statements reflect the current view of Registrant with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to Registrant's industry, Registrant's operations and results of operations and any businesses that may be acquired by Registrant. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.
Although Registrant believes that the expectations reflected in the forward looking statements are reasonable, Registrant cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, Registrant does not intend to update any of the forward-looking statements to conform these statements to actual results.
Item 8.01. Other Events.
On November 02, 2015, FutureWorld Corp, announced that one of its investors had signed a private binding Share Purchase Agreement with Zig Lambo, the majority shareholder of Net:X America, Inc. The transaction will allow for initial public offering of CB Scientific to be effective with the completion of the private share purchase. Name change and other relevant procedures will follow the transaction.
On December 04, 2015, the transaction has been completed. After or prior to name change and recapitalization of the public company, CB Scientific will merge operations with the public company through an asset purchase agreement and initiate an IPO to raise funds for operations and provide dividend to its (FWDG) shareholders (FWDG may consider cash dividend to its shareholders).
The transaction is an arm-length transaction and there are no material relationships and conflicts between the parties.
More information will be provided on the ongoing process when completed. This is our second spin-off so far. We are expecting more to follow.
