Note 10 - Other Significant Events

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Other Significant Events, Disclosure [Text Block]

(

10

)

Other Significant Events

On

March 13, 2016,

FSC entered into a Stock Purchase Agreement (the “

Agreement

”) with Natalie Stock, Ltd. for the purchase of all of the outstanding shares of Amid Financial Centre, Ltd. (“Amid”), a Mauritius Company that operates as a broker-dealer.

Pursuant to the terms of the Agreement, FSC was to acquire all of the capital stock of Natalie Stock, Ltd. In consideration, WHEH was to pay cash and other consideration to Natalie Stock, Ltd. WHEH intended to integrate FSC’s software and trading platform and Amid’s broker-dealer operations.

The Agreement contained customary representations, warranties and covenants by Natalie Stock, Ltd. and FSC. The Closing of the Agreement was subject to customary closing conditions.

Eli Gal Levy, was a director of WHEH and FSC, and is the owner of Natalie Stock, Ltd.

During the

first

quarter of

2016,

an initial deposit of

$20,000

was made as part of the agreement. The likelihood of both the acquisition going ahead and repayment of the

$20,000

deposit were deemed unlikely by

December 31, 2016,

and, as a result the

$20,000

was written off as an expense in

2016.