$PennyMover
4 years ago
Stevia Nutra Corp.
Notes to Unaudited Consolidated Financial Statements
Note 1. Description of Business
Acquisition of New Earth Development Corporation
On February 21, 2020, the Company entered into an Acquisition, Funding Agreement (the “Agreement”) with Gold
River Productions, Inc., a Colorado corporation and the parent corporation to its wholly owned subsidiary New Earth
Development Corporation (“NEDC”), an Illinois corporation, which in turn is the parent corporation to its wholly
owned subsidiary Hemp Armor Inc., RushNet Inc., a Colorado corporation, and Joshua Spooner, an Illinois resident
(see Note 5. Acquisition of New Earth Development Corporation).
Pursuant to the terms of the Agreement, the Company received all of the stock and other ownership of NEDC, which
makes both New Earth Development Corporation and its wholly owned subsidiary, Hemp Armor Inc, wholly owned
subsidiaries of the Company as of February 21, 2020. As consideration for all of the stock and ownership interests in
NEDC, the Company has agreed to (i) issue 2,500,000 shares of its common stock in exchange for all of the shares
and ownership interests of NEDC, (ii) provide five million dollars USD ($5,000,000) of funding to NEDC (the
“Funding”), and (iii) agrees that Joshua Spooner shall serve as the Chief Executive Officer of Hemp Armor Inc., with
Mr. Spooner managing Hemp Armor Inc. from his Illinois office.
Hemp Armor Inc. will use the Funding to build the first manufacturing facility to capitalize on the opportunity, and to
corner, the market of hemp bio-textiles and composites to significantly upgrade modern textiles, and to provide new
raw material resources for superior attire for the safety of the user, and in part to accommodate increasing demand for
textiles, and the creation of a renewable source of raw bio-textiles, for application in aerospace, automotive, law
enforcement, the Department of Defense, and to enable it to construct a 600 meter ballistic testing range. Hemp Armor
will also seek to produce primarily high strength woven design that will house the flexible ballistic material
formulations known as CarbonEra™, which will be manufactured pursuant to a licensing agreement with Nova
Graphene™.
Note 5. Acquisition of New Earth Development Corporation
On February 21, 2020, the Company entered into an Acquisition, Funding Agreement (the “Agreement”) with Gold
River Productions, Inc., a Colorado corporation and the parent corporation to its wholly owned subsidiary New Earth
Development Corporation, an Illinois corporation, which in turn is the parent corporation to its wholly owned
subsidiary Hemp Armor Inc., RushNet Inc., a Colorado corporation, and Joshua Spooner, an Illinois resident.
Pursuant to the terms of the Agreement, the Company received all of the stock and other ownership of New Earth
Development Corporation, which makes both New Earth Development Corporation and its wholly owned subsidiary,
Hemp Armor Inc, wholly owned subsidiaries of the Company as of February 21, 2020. As consideration for all of the
stock and ownership interests in New Earth Development Corporation, the Company has agreed to (i) issue 2,500,000
shares of its common stock in exchange for all of the shares and ownership interests of New Earth Development
Corporation, (ii) provide five million dollars USD ($5,000,000) of funding to New Earth Development Corporation
(the “Funding”), and (iii) agrees that Joshua Spooner shall serve as the Chief Executive Officer of Hemp Armor Inc.,
with Mr. Spooner managing Hemp Armor Inc. from his Illinois office.
Hemp Armor Inc. will use the Funding to build the first manufacturing facility to capitalize on the opportunity, and to
corner, the market of hemp bio-textiles and composites to significantly upgrade modern textiles, and to provide new
raw material resources for superior attire for the safety of the user, and in part to accommodate increasing demand for
textiles, and the creation of a renewable source of raw bio-textiles, for application in aerospace, automotive, law
enforcement, the Department of Defense, and to enable it to construct a 600 meter ballistic testing range. Hemp Armor
will also seek to produce primarily high strength woven design that will house the flexible ballistic material
formulations known as CarbonEra™, which will be manufactured pursuant to a licensing agreement with Nova
Graphene™.
On February 21, 2020, which is the effective date of this acquisition, the Company agreed to issue 2,500,000 shares
of its common stock as consideration for all of the stock and ownership interests of NEDC. The Company estimated
the fair value of these shares to be $34,975,000, which represents the $13.99 per share closing price as quoted on the
OTC Market index as of February 21, 2020 multiplied by the 2,500,000 shares.
As of February 21, 2020, NEDC had zero assets, zero liabilities, and zero net equity. Accordingly, the Company
recorded the entire $34,975,000 estimated fair value of the 2,500,000 shares of common stock issued to NEDC as
consideration for all of the stock and ownership interests of NEDC as goodwill on its balance sheet as of both February
21, 2020 and April 30, 2020. The following summarizes the calculation of the goodwill recorded by the Company:
24
Estimated fair value of common stock issued as of acquisition date $34,975,000
NEDC assets as of acquisition date $ -
NEDC liabilities as of acquisition date $ -
NEDC net equity as of acquisition date $ - $ -
Goodwill recorded as of acquisition date $34,975,000
The Company reviews its acquired goodwill for impairment annually or more frequently if events or changes in
circumstances indicate that the carrying amount may not be recoverable. In reviewing its goodwill, the Company
performs a qualitative analysis to determine if it is more-likely-than-not that the goodwill is impaired. If the qualitative
analysis indicates that goodwill is likely impaired, the goodwill carrying value in excess of its fair value would be
recognized as an impairment loss. Management has concluded that, based on a qualitative analysis, it is more-likelythan-not that goodwill has not been impaired as of April 30, 2020.
As of April 30, 2020, the 2,500,000 shares had not been issued to NEDC as the Company’s transfer agent was still
awaiting the required information from NEDC. As of April 30, 2020, the Company had recorded these shares as
“shares subscribed for the acquisition of New Earth Development Corporation” on both its balance sheet and statement
of stockholders’ equity (deficit). Note that the accompanying financial statements do not include the 2,500,000 shares
that are pending issuance to NEDC in the number of shares issued and outstanding and weighted average shares
outstanding calculations.
https://backend.otcmarkets.com/otcapi/company/financial-report/250111/content
Kcnbcircle5
4 years ago
STNT and various JV's
Mentions recently
No scam here,
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Nr shares
Verification to 1B
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Partnering and property agreenents
Exhibits.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1
Technology Acquisition and Financing Agreement dated May 8, 2020
10.2
Intellectual Property Agreement dated May 12, 2020
10.3
Third Addendum to License Agreement with Marv Enterprises, LLC dated May 11, 2020
....
GRPS/RSHN/sell of HEMP Armor and. STNT funding agreement.
AGREEMENT This Acquisition, Funding Agreement (the “Agreement”) is entered into effective February 21, 2020, by and between: Gold River Productions, Inc. (OTC Pink: GRPS) (“GRPS”) a Colorado corporation, and the parent corporation to its wholly-owned subsidiary New Earth Development Corporation, an Illinois corporation (“New Earth”), which in turn is the parent corporation to its wholly-owned subsidiary of Hemp Armor Inc. (“HempArmor”), RushNet Inc. (OTC Pink: RSHN), a Colorado corporation (“RushNet”), Joshua Spooner, an Illinois resident and Stevia Nutra Corp. (OTC Pink: STNT), a Nevada corporation. Each shall be referred to as a “Party” and collectively as the “Parties.”
......
AGREEMENT This Acquisition, Funding Agreement (the “Agreement”) is entered into effective February 21, 2020, by and between: Gold River Productions, Inc. (OTC Pink: GRPS) (“GRPS”) a Colorado corporation, and the parent corporation to its wholly-owned subsidiary New Earth Development Corporation, an Illinois corporation (“New Earth”), which in turn is the parent corporation to its wholly-owned subsidiary of Hemp Armor Inc. (“HempArmor”), RushNet Inc. (OTC Pink: RSHN), a Colorado corporation (“RushNet”), Joshua Spooner, an Illinois resident and Stevia Nutra Corp. (OTC Pink: STNT), a Nevada corporation. Each shall be referred to as a “Party” and collectively as the “Parties.”
Kcnbcircle5
5 years ago
Absolutly here are the basics and blog headers you can back track
(b) STNT shall issue 2,500,000 shares of its common stock in exchange for all of its shares and all of its equity and all ownership in New Earth, making New Earth, the sole shareholder of HempArmor, a 100% wholly-owned subsidiary of STNT. Of the 2,500,000 shares of STNT common stock, 2,250,000 shares shall be issued to GRPS and 250,000 shares shall be issued to RushNet, consistent with the agreement between GRPS and RushNet. (c) In addition to the foregoing, HempArmor ...
TEVIA NUTRA CORP. (A Nevada Corporation) 120 Hollybrook Court Henderson, NV 89074 702-623-1807 stevianutra@yahoo.com TRADING SYMBOL: STNT CUSIP NUMBER: 860322205 SIC CODE: 7510 ANNUAL REPORT FOR THE PERIOD ENDING July 31, 2019 (the “Reporting Period”)
The above filing shows the 6 month business plan prior to Help armor purchase.
The below shows the GRPS RSHN , purchase agreement.
ACQUISITION, FUNDING AGREEMENT This Acquisition, Funding Agreement (the “Agreement”) is entered into effective February 21, 2020, by and between: Gold River Productions, Inc. (OTC Pink: GRPS) (“GRPS”) a Colorado corporation, and the parent corporation to its wholly-owned subsidiary New Earth Development Corporation, an Illinois corporation (“New Earth”), which in turn is the parent corporation to its wholly-owned subsidiary of Hemp Armor Inc. (“HempArmor”), RushNet Inc. (OTC Pink: RSHN), a Colorado corporation (“RushNet”), Joshua Spooner, an Illinois resident and Stevia Nutra Corp. (OTC Pink: STNT), a Nevada corporation. Each shall be referred to as a “Party” and collectively as the “Parties.”
ACQUISITION, FUNDING AGREEMENT This Acquisition, Funding Agreement (the “Agreement”) is entered into effective February 21, 2020, by and between: Gold River Productions, Inc. (OTC Pink: GRPS) (“GRPS”) a Colorado corporation, and the parent corporation to its wholly-owned subsidiary New Earth Development Corporation, an Illinois corporation (“New Earth”), which in turn is the parent corporation to its wholly-owned subsidiary of Hemp Armor Inc. (“HempArmor”), RushNet Inc. (OTC Pink: RSHN), a Colorado corporation (“RushNet”), Joshua Spooner, an Illinois resident and Stevia Nutra Corp. (OTC Pink: STNT), a Nevada corporation. Each shall be referred to as a “Party” and collectively as the “Parties.”
$PennyMover
5 years ago
News
With the Strategic Acquisition of HempArmor(TM), Inc., Stevia Nutra Corp (STNT) Is Now Poised to Manufacture Indestructible, Ballistic Personal Protective Garments of Graphene and Foam, from Its Specialized Formulations of Hemp Fiber
Las Vegas, Nevada--(Newsfile Corp. - March 5, 2020) - Stevia Nutra Corp. (OTC Pink: STNT) announces the acquisition of New Earth Development Corporation a Colorado corporation, which includes HempArmor™ Inc., an Illinois corporation. With this acquisition, Stevia Nutra which will create and manufacture indestructible, ballistic personal protective garments made from specialized formulations of hemp fiber, graphene and foam.
Hemp fibers are the strongest fibers in the world and can be easily woven into light weight and indestructible vests, helmets and protective clothing. Hemp fiber textile is stronger and lighter than Kevlar, while also water and fire resistant. Hemp can also be extremely durable while lightweight, making it a perfect fiber to hold up against the elements. The use of these materials is far more suitable to full-body protection, with unparalleled protection.
Current ballistic protection systems are heavy and awkward, with limited mobility and agility, and not very durable and heavy in comparison to our HempArmor alternative.
Hemp armor protective system design has all of the elements to include optimizing level III National Institute of Justice Standards. It is a combination of hemp fiber textile, Carbon Era™ graphene flexable level IV plating system and D3o™ absorption foam.
Its Unique Properties include:
70% lighter than ceramic plating system - so light it floats
Extremely water and fire and UV resistant
"Soldier Proof" - kicked, dropped, thrown - will not compromise the integrity of the system or otherwise adversely affect its protective qualities
Can easily withstand direct impact from multiple rounds
The hardest substance known to mankind, 10 times harder than diamond, N3o can absorb the force of impact to reduce the effects of bruising and even fractures of head or chest cavities
Flexible for increased mobility, agility and endurance
Superconductive - susceptible to 21st-century innovations not yet imagined
Its carbon neutrality renders the growing of our hemp, with our unique seeds, helpful to the environment as it draws carbon from the atmosphere.
Markets:
Hemp Armor ™ has identified multiple markets in its current focus upon special programs with the Department of Defense and police departments needing protective gear, domestically and internationally
Fueled by our contacts within the NFL, we will bring our products to the public starting with a presentation directed to the NFL
Our products will reduce concussions and the severity of head injuries with our bullet proof helmut's space age protection.
The utility of these products is enormous for more information please visit our web-site: www.stevianutracorp.com
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1922, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", " forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may", or similar words or expressions, Such statements are not guarantee of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.
Stevia Nutra Corp. Contact: stevianutra@yahoo.com Toll free: 877-978-3842
https://orders.newsfilecorp.com/files/6958/53167_3d74c8a1e4c9f800_logo.jpg
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53167
https://www.newsfilecorp.com/newsinfo/53167/130