| Organization and Description of Business | Organization and Description of Business Cannagistics, Inc. (Formerly FIGO Ventures,
Inc., formerly Precious Investments, Inc.) (‘The Company’) was incorporated under the laws of the State of Nevada on
May 26, 2004. The Company was an Exploration Stage Company with the principle business being the acquisition and exploration of
resource properties. The Company had allowed its charter with the
state of Nevada to be revoked by the Secretary of State for failure to file the required annual lists and pay the required annual
fees. Its last known officers and directors reflected in the records of the Secretary of State were unresponsive or stated they
were no longer involved with the Company. The purported replacement officers and directors were unresponsive. On September 14, 2012, NPNC Management, LLC
filed a petition in the Eighth Judicial District Court in Clark County, Nevada and was appointed custodian of the Company on January
15, 2012. On October 24, 2012, the interim board authorized
the sale of 55,000,000 (2,200,000 split adjusted) shares of common stock for $6,000 to NPNC Management, LLC, in a private placement
transaction exempt from the Securities Act of 1933, as amended, pursuant to section 4(2) thereof and the rules and regulations
promulgated there under. On March 1, 2017, the Company then entered
into a joint venture agreement with Eddeb Management (“Eddeb”). The purpose of the joint venture is to build a fund
for the purpose of trading in precious gems, notably, colored diamonds. On November 16, 2017, the Company entered
into an Agreement of Merger and Plan of Reorganization (the “Merger Agreement”) with American Freight Xchange, Inc.,
a privately held New York corporation (“American Freight”), and Shipzooka Acquisition Corp. (“Shipzooka Sub”),
a newly formed wholly-owned Nevada subsidiary of Precious Investments, Inc. In connection with the closing of this merger transaction,
Shipzooka Sub merged with and into American Freight (the “Merger”) on December 5, 2017, with the filing of Articles
of Merger with the Nevada Secretary of State and Certificate of Merger with the New York Division of Corporations. The transaction resulted in the Company acquiring
Subsidiary by the exchange of all of the outstanding shares of Subsidiary for 1,000,000 newly issued Series C Preferred shares
of stock, $0.001 par value (the “Preferred Stock”) of Parent which have conversion and voting rights of 72.5 votes
for each share, representing approximately 90.2% of the voting rights For accounting purposes, the transaction was
treated as a reverse merger since the acquired entity now forms the basis for operations and the transaction resulted in a change
in control, with the acquired company electing to become the successor issuer for reporting purposes. The accompanying financial
statements have been prepared to reflect the assets, liabilities and operations of American Freight Xchange, Inc. exclusive of
Precious Investments, Inc since all predecessor operations were discontinued. As part of the transaction, amounts due to
former officers were forgiven, with the balances recorded as Contributed Capital. For equity purposes, accumulated deficit shown
are those American Freight Xchange, Inc. Shipzooka Acquisition Corp. is a dormant corporation. On July 23, 2018 the Company amended the name
of its subsidiary, KRG Logistics, Inc., to Global3pl, Inc. (an Ontario corporation). On September 4, 2018 the Company incorporated
Cannagistics, Inc., in the province of Ontario, Canada. This is intended to be a possible new line of business for the Company
but is dormant at this time. On April 17, 2019, we filed Articles of Merger
with the Secretary of State of Nevada in order to effectuate a merger with our wholly owned subsidiary, Cannagistics, Inc. Shareholder
approval was not required under Section 92A.180 of the Nevada Revised Statutes. As part of the merger, our board of directors authorized
a change in our name to “Cannagistics, Inc.” and our Articles of Incorporation have been amended to reflect this name
change. On September 26, 2019, the Board of Directors
approved the registered spinout of its Global3pl, Inc., (a New York corporation) (“Global3pl”) subsidiary. Global3pl
is to be a logistics technology provider, along with the American Freight Xchange and UrbanX Platforms that have been under development
by the Company. The Board of Directors also declared a stock
dividend for all shareholders, with a record date of October 10, 2019. For every 50 shares of common stock of the Company, all
shareholders of record on the record date will receive one share of common stock in Global3pl. Global3pl will also file a registration
statement as part of its raise of capital to complete the development of American Freight Xchange, a North American freight broker-driven
3pl network to handle the management of long haul LTL (less than truckload), and specialty freight (white glove) services and Urbanx,
a North American network of rush-messenger local trucking services for forward and reverse last mile delivery (including white
glove service). Effective October 1, 2019, the Company suspended operations of its
subsidiary Global3pl, Inc., formerly known as KRG Logistics, Inc., (an Ontario corporation), suspended future operations related
to the operations in Mississauga, Ontario. It is in the process of collecting accounts receivables still due and working on a plan
to pay its payables. It has entered into an agreement with 10451029 Canada Inc., d/b/a Reliable Logistics, for the assignment and
of the assets of Global3pl, Inc., (an Ontario Corporation). The transaction was completed on November 6, 2019. The Company anticipates
formally liquidating and dissolving the subsidiary in the next fiscal Quarter. This is a separate corporation from Global3pl, Inc.
(A New York corporation). Current Projects in Development Malta Project Cannagistics Lab Malta Cannagistics
Lab Manufacturing areas description: The factory will have the following areas for
the production process, which will implement the safety protocols and the project will be developed. Area of receipt: Area of the property that
has been destined for the receipt of the raw material and supplies that arrives for the manufacturing process. Raw material area: Warehouse equipped with
the security measures required for the storage of the raw material. Production and manufacturing area: Sector where
the manufacturing process will be carried out in which the transforming plant will be in order to obtain the final product. Reagents and supplies area: Warehouse equipped
with the security measures required for the storage of reagents and supplies. Solid waste area: Sector destined for the storage
of solid waste produced during the manufacturing process. Finished product area: Warehouse equipped with
the security measures required for the storage of the finished product. Dispatch area: Sector from where the process
of dispatch and delivery of the finished product to its final recipient will take place Administrative area: Sector of the factory
where administrative, accounting and security activities will be developed. Global3pl, Inc (New York Corporation) Global 3PL, Inc. (NY) |
