UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: July 12, 2017
(Date of earliest event reported)
B2Digital, Incorporated
(Exact name of registrant as specified in its charter)
Delaware | 000-11882 | 84-0916299 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification Number) |
4522 West Village Drive, Suite 215, Tampa, Florida | 33624 | |
(Address of principal executive offices) | (Zip Code) |
(813) 961-3051
(Registrants telephone number, including area code)
1030 S. Mesa Drive, Mesa, Arizona 85210
(Former Name or Former Address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. | Other Events. |
On June 27, 2008, B2Digital, Incorporated (the Company) filed a Form 15 (the Form 15) with the Securities and Exchange Commission to voluntarily deregister the Companys common stock under Section 12(g) of the Securities Exchange Act of 1934, as amended (the Exchange Act). At the time of filing of the Form 15, the Company was not current in its Exchange Act reporting obligations because it had not yet filed its Quarterly Report on Form 10-Q for the quarter ended December 31, 2007 (the 2007 10-Q) containing the Companys quarterly unaudited financial statements for the quarter ended December 31, 2007 (the Q3 2007 Financials).
The Company is filing this Current Report on Form 8-K to provide its annual financial statements for the year ended March 31, 2008 (the 2007 Annual Financials). The Q3 2007 Financials are not available and may not be obtained without unreasonable delay and effort. The 2007 Annual Financials are attached to this report as Exhibit 99.1 and are incorporated herein by reference.
The Companys common stock is quoted on the OTC Markets Group, LLCs OTC Pink Market, a centralized electronic quotation service for over-the-counter securities.
Item 9.01. | Financial Statements and Exhibits. |
Exhibit 99.1 | Annual financial statements of B2Digital, Incorporated, d/b/a Hotel Movie Network, for the year ended March 31, 2008. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 12, 2017 | B2DIGITAL, INCORPORATED | |||||
By: | /s/ Greg P. Bell | |||||
Greg P. Bell | ||||||
Chief Executive Officer |
Exhibit Index
Exhibit No. |
Description | |
Exhibit 99.1 | Annual financial statements of B2Digital, Incorporated, d/b/a Hotel Movie Network, for the year ended March 31, 2008. |
Exhibit 99.1
B2 Digital dba Hotel Movie Network
Balance Sheet
As of March 31, 2008
March 31, 2008 | ||||||||
ASSETS |
||||||||
Current Assets |
||||||||
Checking/Savings |
||||||||
American Express |
3,561.70 | |||||||
Bank Non-Cash Deposit Correction |
15.09 | |||||||
Checking at Bank of America |
11,068.87 | |||||||
Office Petty Cash Account |
43.97 | |||||||
|
|
|||||||
Total Checking/Savings |
7,536.05 | |||||||
Accounts Receivable |
||||||||
Accounts Receivable |
276,303.87 | |||||||
|
|
|||||||
Total Accounts Receivable |
276,303.87 | |||||||
Other Current Assets |
||||||||
Bad Debt Allowance |
218,655.35 | |||||||
Inventory Asset |
2,327,272.82 | |||||||
Inventory Asset Valuation Allow |
2,041,403.65 | |||||||
Loan |
14,238.00 | |||||||
|
|
|||||||
Total Other Current Assets |
81,451.82 | |||||||
|
|
|||||||
Total Current Assets |
365,291.74 | |||||||
Fixed Assets |
||||||||
Accum. Deprec. E & M |
918,252.23 | |||||||
Equipment & Machinery |
357,282.06 | |||||||
Field Test Equipment |
||||||||
Equipment-Other |
1,103.12 | |||||||
FTG |
23,939.97 | |||||||
PPV |
9,865.69 | |||||||
Field Test Equipment Other |
2,214.00 | |||||||
|
|
|||||||
Total Field Test Equipment |
37,122.78 | |||||||
Leasehold Improvements |
29,485.46 | |||||||
Office Equipment |
||||||||
Bench Test Equipment |
1,248.77 | |||||||
Computer |
14,891.12 | |||||||
Office Equipment Other |
6,691.74 | |||||||
|
|
|||||||
Total Office Equipment |
22,831.63 | |||||||
Office Furniture |
1,367.00 | |||||||
|
|
|||||||
Total Fixed Assets |
470,163.30 | |||||||
Other Assets |
||||||||
Hotel Movie Express Equipment |
470,163 30 | |||||||
|
|
|||||||
Total Other Assets |
470,163.30 | |||||||
|
|
|||||||
TOTAL ASSETS |
365,291.74 | |||||||
|
|
B2 Digital dba Hotel Movie Network
Balance Sheet
As of March 31, 2008
March 31, 2008 | ||||
LIABILITIES & EQUITY |
||||
Liabilities |
||||
Current Liabilities |
||||
Accounts Payable |
||||
Accounts Payable |
35,114.54 | |||
|
|
|||
Total Accounts Payable |
35,114.54 | |||
Credit Cards |
||||
American Express Business Gold |
623.85 | |||
|
|
|||
Total Credit Cards |
623.85 | |||
Other Current Liabilities |
||||
Emerst McKay |
50,000.00 | |||
Paul LaBarre |
50,000.00 | |||
Retainers |
1,125.77 | |||
|
|
|||
Total Other Current Liabilities |
101,125.77 | |||
|
|
|||
Total Current Liabilities |
135,616.46 | |||
Long Term Liabilities |
||||
Free To Guest Deposit Account |
7,588.70 | |||
|
|
|||
Total Long Term Liabilities |
7,588.70 | |||
|
|
|||
Total Liabilities |
143,205.16 | |||
Equity |
||||
Common Stock |
25,000.00 | |||
Inventory Allowance |
220.62 | |||
Paid in capital |
1,873,072.00 | |||
Retained Earnings |
1,687,680.88 | |||
Net Income |
11,916.08 | |||
|
|
|||
Total Equity |
222,086.58 | |||
|
|
|||
TOTAL LIABILITIES & EQUITY |
365,291.74 | |||
|
|
B2 Digital dba Hotel Movie Network
Profit & Loss
April 2007 through March 2008
Twelve Months Ended March 31, 2008 |
||||||||||||
Ordinary Income/Expense |
||||||||||||
Income |
||||||||||||
Billable Field Service |
262.50 | |||||||||||
Equipment Sales |
250.00 | |||||||||||
Reimbursed Charges |
1,615.20 | |||||||||||
Sales |
||||||||||||
Free To Guest |
||||||||||||
Directv Commissions |
7,346.42 | |||||||||||
FTG Adjustment |
2,224.80 | |||||||||||
Free To Guest Other |
204,259.62 | |||||||||||
|
|
|||||||||||
Total Free To Guest |
209,381.24 | |||||||||||
PPV Programing |
||||||||||||
PPV Adjustments |
1,341.32 | |||||||||||
PPV Hotel Commission Adjustment |
12,740.87 | |||||||||||
PPV Programing Other |
10,522.30 | |||||||||||
|
|
|||||||||||
Total PPV Programing |
3,559.89 | |||||||||||
Sales Other |
0.00 | |||||||||||
|
|
|||||||||||
Total Sales |
205,821.35 | |||||||||||
Uncategorized Income |
694.98 | |||||||||||
|
|
|||||||||||
Total Income |
208,644.03 | |||||||||||
Cost of Goods Sold |
||||||||||||
*Cost of Goods Sold/inventory |
815.71 | |||||||||||
Cost of Goods Sold |
25,229.09 | |||||||||||
Progrming Fees |
||||||||||||
FTG Fees |
112,228.05 | |||||||||||
Royalties |
||||||||||||
20th Century Fox Royalty |
1,087.54 | |||||||||||
Hollywood Adult Video |
230.43 | |||||||||||
|
|
|||||||||||
Total Royalties |
1,317.97 | |||||||||||
Progrming Fees Other |
4,638.98 | |||||||||||
|
|
|||||||||||
Total Progrming Fees |
118,185.00 | |||||||||||
Sales Adjustments |
467.19 | |||||||||||
VHS Duplication Cost |
||||||||||||
VHS Blank Tapes |
312.50 | |||||||||||
VHS Duplication Cost Other |
6,875.50 | |||||||||||
|
|
|||||||||||
Total VHS Duplication Cost |
7,188.00 | |||||||||||
|
|
|||||||||||
Total COGS |
101,426.81 | |||||||||||
|
|
B2 Digital dba Hotel Movie Network
Profit & Loss
April 2007 through March 2008
Twelve Months Ended March 31, 2008 |
||||||||||||
Gross Profit |
107,217.22 | |||||||||||
Expense |
||||||||||||
Advertising |
30,560.25 | |||||||||||
alarm monitoring services |
180.00 | |||||||||||
Automobile Expense |
59.20 | |||||||||||
Batteries |
86.44 | |||||||||||
Dish Residential |
293.05 | |||||||||||
Fees |
564.13 | |||||||||||
Fees Ex. |
263.42 | |||||||||||
Field Service |
2,459.35 | |||||||||||
Interest Expense |
||||||||||||
Finance Charge |
3.70 | |||||||||||
|
|
|||||||||||
Total Interest Expense |
3.70 | |||||||||||
INTERNET SERVICES |
486.00 | |||||||||||
Late Fee |
45.00 | |||||||||||
LATE FEE |
30.00 | |||||||||||
Lease Payment |
1,551.46 | |||||||||||
Licenses and Permits |
100.00 | |||||||||||
Miscellaneous |
0.54 | |||||||||||
Office and Storage Expences |
||||||||||||
Rent |
17,600.00 | |||||||||||
Security System |
50.00 | |||||||||||
Storage Units |
2464.35 | |||||||||||
Office and Storage Expences Other |
1454.35 | |||||||||||
|
|
|||||||||||
Total Office and Storage Expences |
21,568.70 | |||||||||||
Office Supplies |
1,054.14 | |||||||||||
Parts |
||||||||||||
Computer Programming/Software |
175.00 | |||||||||||
|
|
|||||||||||
Total Computer |
175.00 | |||||||||||
Digital PPV Rack |
5,024.71 | |||||||||||
Electronics |
647.43 | |||||||||||
Tools |
523.47 | |||||||||||
Parts Other |
691.87 | |||||||||||
|
|
|||||||||||
Total Parts |
7,062.48 | |||||||||||
Permits |
10.00 | |||||||||||
Postage and Delivery |
||||||||||||
Federal Express |
367.44 |
B2 Digital dba Hotel Movie Network
Profit & Loss
April 2007 through March 2008
Twelve Months Ended March 31, 2008 |
||||||||||||
Freight Charges |
720.70 | |||||||||||
Pitney Bowes Postage Machine |
400.50 | |||||||||||
Postage Refill |
857.01 | |||||||||||
UPS |
||||||||||||
Return Service |
5.76 | |||||||||||
Service Charges |
94.00 | |||||||||||
Shipping Charge Corrections |
57.15 | |||||||||||
UPS Other |
4382.56 | |||||||||||
|
|
|||||||||||
Total UPS |
4,539.47 | |||||||||||
Postage and Delivery Other |
95.41 | |||||||||||
|
|
|||||||||||
Total Postage and Delivery |
6,980.53 | |||||||||||
Professional Fees |
||||||||||||
Maintenance Agreement |
802.64 | |||||||||||
|
|
|||||||||||
Total Professional Fees |
802.64 | |||||||||||
Repairs |
||||||||||||
Building Repairs |
928.44 | |||||||||||
|
|
|||||||||||
Total Repairs |
928.44 | |||||||||||
Salary |
||||||||||||
Administrative |
3,500.00 | |||||||||||
|
|
|||||||||||
Total Salary |
3,500.00 | |||||||||||
Service Charges |
||||||||||||
American Express |
68.13 | |||||||||||
Merchant Fees |
||||||||||||
Amex |
50.65 | |||||||||||
EPS |
383.85 | |||||||||||
Legacy |
26.85 | |||||||||||
Northern Leasing |
1,470.40 | |||||||||||
Visa/MC |
40.19 | |||||||||||
Merchant Fees Other |
376.69 | |||||||||||
|
|
|||||||||||
Total Merchant Fees |
2,348.63 | |||||||||||
Service Charges Other |
203.75 | |||||||||||
|
|
|||||||||||
Total Service Charges |
2620.51 | |||||||||||
Shipping Supplies |
2110.39 | |||||||||||
Taxes |
||||||||||||
Payroll Taxes |
2762.70 | |||||||||||
Taxes Other |
134.87 | |||||||||||
|
|
B2 Digital dba Hotel Movie Network
Profit & Loss
April 2007 through March 2008
Twelve Months Ended March 31, 2008 |
||||||||||||
Total Taxes |
2897.57 | |||||||||||
Telephone |
||||||||||||
Cellular Phone |
306.11 | |||||||||||
Telephone Other |
5190.20 | |||||||||||
|
|
|||||||||||
Total Telephone |
5496.31 | |||||||||||
Travel & Ent |
||||||||||||
Meals |
289.02 | |||||||||||
Travel |
250.00 | |||||||||||
|
|
|||||||||||
Total Travel & Ent |
539.02 | |||||||||||
Utilities |
||||||||||||
Electric |
3941.46 | |||||||||||
Water, Gas & Trash |
1,495.14 | |||||||||||
|
|
|||||||||||
Total Utilities |
5,436.60 | |||||||||||
Vehicles |
||||||||||||
Vehicle Maintenance |
||||||||||||
Chevy-Brian |
85.50 | |||||||||||
Vehicle Maintenance Other |
103.76 | |||||||||||
|
|
|||||||||||
Total Vehicle Maintenance |
189.26 | |||||||||||
Vehicles Other |
368.29 | |||||||||||
|
|
|||||||||||
Total Vehicles |
557.55 | |||||||||||
voided check |
0.00 | |||||||||||
Work Expense |
||||||||||||
Gas |
812.89 | |||||||||||
Meals |
272.07 | |||||||||||
Misc. |
64.93 | |||||||||||
Work Expense Other |
2,223.18 | |||||||||||
|
|
|||||||||||
Total Work Expense |
3,373.07 | |||||||||||
|
|
|||||||||||
Total Expense |
99,906.13 | |||||||||||
|
|
|||||||||||
Net Ordinary Income |
7,311.09 | |||||||||||
Other Income/Expense |
||||||||||||
Other Income |
||||||||||||
Other Income |
4,900.11 | |||||||||||
Refund |
17.38 | |||||||||||
|
|
|||||||||||
Total Other Income |
4917.49 | |||||||||||
Other Expense |
||||||||||||
Other Expenses |
312.50 | |||||||||||
|
|
B2 Digital dba Hotel Movie Network
Profit & Loss
April 2007 through March 2008
Twelve Months Ended March 31, 2008 |
||||||||
Total Other Expense |
312.50 | |||||||
|
|
|||||||
Net Other Income |
4604.99 | |||||||
|
|
|||||||
Net Income |
11,916.08 | |||||||
|
|
B2 Digital dba Hotel Movie Network
Statement of Cash Flows
April 2007 through March 2008
Twelve Months Ended March 31, 2008 |
||||
OPERATING ACTIVITIES |
||||
Net Income |
11,916.08 | |||
Adjustments to reconcile Net Income to net cash provided by operations: |
||||
Accounts Receivable |
13,889.30 | |||
Inventory Asset |
345.91 | |||
Inventory Asset Valuation Allow |
35.71 | |||
Loan |
14,238.00 | |||
Accounts Payable |
18,844.32 | |||
American Express Business Gold |
623.85 | |||
|
|
|||
Net cash provided by Operating Activities |
2,390.87 | |||
FINANCING ACTIVITIES |
||||
Inventory Allowance |
220.62 | |||
|
|
|||
Net cash provided by Financing Activities |
220.62 | |||
|
|
|||
Net cash increase for period |
2,170.25 | |||
Cash at beginning of period |
5,365.80 | |||
|
|
|||
Cash at end of period |
7,536.05 | |||
|
|