Voz Mobile Cloud Ltd Announces Termination And Settlement Agreement With BaxTech Asia PTE LTD-Form 8-K
Voz Mobile Cloud Ltd reported in its Form 8-K that On July 15, 2013, the Company, entered into an agreement and BaxTech Asia PTE LTD, (Baxtech) a company incorporated in Singapore. Pursuant to the Termination and Settlement Agreement, the Company and BaxTech terminated: (i) the September 11, 2011 agreement (the Asset Purchase Agreement) between the Company and BaxTech; and (ii) the December 14, 2012, agreement (the Reseller Agreement) between the Company and BaxTech. The Termination and Settlement Agreement was approved by the Company and BaxTech’s board of directors and ratified by its shareholders. As a result of the Termination and Settlement Agreement, the Company has no operations or plan of operations. The Asset Purchase Agreement was executed on or about September 11, 2011, by and between Floyd Robertson on behalf of the Company and Lawrence Lee on behalf of BaxTech. The Asset Purchase resulted in (i) BaxTech becoming the Company’s controlling shareholder; (ii) certain of BaxTech’s business and assets becoming the business and assets of the Company; and (iii) Lawrence S.H.Lee, BaxTech’s director becoming the sole officer and director of the Company. BaxTech was induced to enter into the Asset Purchase Agreement by certain parties who assured BaxTech it would be a publicly traded and a Securities and Exchange Commission (SEC) reporting company at the closing. Terms of the transaction were not disclosed.
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