XML 39 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 6. Subsequent Events: Asset Purchase of Sandwich Isles Trading Company Inc. (Policies)
3 Months Ended
Aug. 31, 2013
Policies  
Asset Purchase of Sandwich Isles Trading Company Inc.

Asset Purchase of Sandwich Isles Trading Company Inc.

 

On June 11, 2013, the Company received a letter of intent to enter into an asset purchase agreement with the Sandwich Isles Trading Company.  Prior to and in anticipation of closing of the asset purchase agreement, on September 9, 2013, the Company effected a name change by merging with its wholly-owned Nevada subsidiary named “KonaRed Corporation” with the Company as the surviving corporation under the new name “KonaRed Corporation”.  A Form 8-K was filed with the SEC on October 10, 2013, stating on October 4, 2013, the Company entered into an asset purchase agreement with Sandwich Isles Trading Co. Inc. and certain principals of Sandwich Isles, Shaun Roberts and Steven M. Schorr (now directors and officer of our company), and as a result of the closing of this agreement, the Company has adopted the health beverage and food business of Sandwich Isles operated under the name “KonaRed”.