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Note 10. Exchange Agreement
9 Months Ended
Mar. 31, 2015
Notes  
Note 10. Exchange Agreement

NOTE 10 - EXCHANGE AGREEMENT

 

On February 27, 2015, the Company signed a Share Exchange and Purchase Agreement (the "Share Exchange Agreement"), with CryptoCorum Ltd., a Malta holding company (“CryptoCorum”) and its sole shareholder, LXCCoin Ventures Limited, a Cyprus limited company formerly known as Jeckelson Investments Limited, pursuant to which the Company agreed to acquire 100% of the issued and outstanding equity securities in CryptoCorum in exchange for 10,500,000 shares of the Company’s common stock par value $0.0001 per share (the “Share Exchange”).  The closing (“Closing”) of the Share Exchange is scheduled to take place on May 17, 2015, or such other time as agreed upon the directors of the Company.  Upon the Closing, the Company will own 100% of the outstanding equity interests of CryptoCorum.  As a result of the Share Exchange, LVL, as the former shareholder of CryptoCorum, will become the controlling shareholder of the Company.