| Subsequent Events |
| 11. |
Subsequent Events |
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On January 3, 2017, the Company entered into a consulting agreement with Robert Gross for services related to capitalization strategies, with compensation of 250,000 shares of restricted common stock, with a leak out provision. |
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Reference is made to an 8-K filed by the Company on December 6, 2016, relating to entry by the Company into a material definitive agreement to merge Hook Group, LLC and Suffield Foods, LLC (collectively, “Hook”) into a wholly owned subsidiary of the Company. Subsequent to the end of the reporting period, the Company and Hook have engaged, and continue to engage, in ongoing discussions regarding changes to the terms of the transaction. In conjunction with this proposed merger, in January of 2016, two private investors who have been contemplating an investment in the Company for purposes of facilitating the merger, placed a total of $400,000 into an account at Sterling National bank, in the name of NightFood Holdings, Inc. The funds remain in said account, and remain under investor control. Should the Company be unable to come to terms with these investors, the funds will be returned to the investors, and the account will be closed. |
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On February 13, 2017, the Company entered into three agreements with Black Forest Capital, LLC. The first is an Equity Purchase Agreement calling for the funding of up to $5,000,000. The second is a Registration Rights Agreement, and the third was a $32,500 promissory note. An 8-K was filed on February 13, 2017 with each agreement as an exhibit. |
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