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ACQUISITIONS
3 Months Ended
Mar. 31, 2020
ACQUISITIONS  
NOTE 4 - ACQUISITIONS

In January 2020, the Company purchased three retail sales kiosks formerly used in its expired joint venture with any placement agreements for that equipment with a purchase value of $54,000. The company also agreed assume any leased equipment from WOD Markets LLC that had formerly been part of the equipment used in the joint venture upon placement.

 

Further, the Agreement requires the Company to purchase or write capital leases for an additional $500,000 of kiosks. The original agreement included the $54,000 as part of a total of $500,000. We have recently agreed that the $500,000 in future purchases will not be reduced by the original $54,000 kiosk purchase. 

 

In consideration of the purchase and sale of the Assets, Purchaser agrees to purchase all products to be sold from the kiosks purchased directly from the Seller for two years after the initial purchase date first written above. All subsequent kiosks purchased will be sold to the purchaser at a fixed price of $18,000 per kiosk. Retail consumer products will be sold to the Purchaser at their wholesale cost plus eight percent (8%) for the term of this agreement. The $54,000 initial purchase price and the agreed $500,000 value of the exclusivity rights for the purchase of consumer products is to be considered paid in capital by the Purchaser.