Nevada
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333-157281
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26-2909561
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification Number)
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Item 9.0
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Financial Statements and Exhibits.
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(a) | Not applicable. |
(b) | Not applicable. |
(c) | Not applicable. |
(d) | Exhibits |
Exhibit
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Description
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4.1
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Certificate of Designation of Series C Convertible Preferred Stock.
Filed herewith.
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10.1
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Asset Purchase Agreement (the “Agreement”) by and among COHP, LLC, an Ohio limited liability corporation (“COHP”); and Carmela’s Pizzeria CO, Inc., a Colorado corporation (“Carmela’s CO”), and its parent Greenfield Farms Food, Inc., a Nevada corporation (“Greenfield”) dated October 29, 2013 (
filed herewith
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GREENFIELD FARMS FOOD, INC. | |||
Date:
November 4, 2013
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By:
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/s/ Henry Fong | |
Henry Fong, Chief Financial Officer & Secretary |
GREENFIELD FARMS FOOD, INC.: | |||
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By:
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/s/ Henry Fong | |
Henry Fong
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Chief Executive Officer & Sole Director
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Section 1.
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Purchase and Sale
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(a)
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Subject to the terms and conditions of this Agreement and in reliance on the representations and warranties contained herein, except as otherwise set forth herein, Seller shall sell, convey, transfer and assign to Purchaser and Purchaser shall purchase from Seller all assets of Seller identified in Schedule 1 (collectively, the “Assets”). Seller shall sell, convey, transfer and assign the Assets to Purchaser free and clear of any and all liens, claims, charges, security interests, mortgages, pledges, restrictions and other encumbrances of any kind whatsoever, except as set forth in Schedule 1. The Assets shall be sold, conveyed, transferred, assigned and delivered by Seller to Purchaser on the Closing Date (hereinafter defined) by a bill of sale in the form attached hereto and made a part hereof as Exhibit B and any other appropriate instruments of title.
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(a)
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The Purchase Price for the Assets shall be that number of shares of Greenfield Series C Preferred Stock equaling two times (2x) the total number of fully diluted shares of Greenfield outstanding on the Closing Date. Accordingly, upon issuance of the Greenfield Series C Preferred Stock, the COHP Security Holders as set forth in Schedule 2 shall hold a controlling interest in Greenfield by virtue of their ownership of the Series C Preferred Stock and its concomitant voting rights.
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(b)
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Greenfield agrees to issue that number of warrants equal to the exact number of shares of common stock issued to the COHP Security Holders as set forth in Article 2(a) above. Such warrants shall be exercisable for a period of five years from their issuance date with exercise prices as follows: (i) 1/3 shall be exercisable at 150% of the closing stock price for the Greenfield common stock on the Closing date; and (ii) 1/3 shall be exercisable at 200% of the closing stock price for the Greenfield common stock on the Closing date; and (iii) 1/3 shall be exercisable at 250% of the closing stock price for the Greenfield common stock on the Closing date.
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SHARES
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Carmela's Shareholders - Common Stock
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40,000,000 | |||
Carmela's Shareholders – Warrants
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40,000,000 | |||
Existing GRAS Shareholders
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20,000,000 | |||
Total
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100,000,000 |
WARRANTS
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150% of closing stock price on the Closing Date
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13,333,334 | |||
200% of closing stock price on the Closing Date
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13,333,333 | |||
250% of closing stock price on the Closing Date
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13,333,333 | |||
Total
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40,000,000 |
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(a)
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The representations and warranties of Purchaser contained in this Agreement shall be in all respects true, complete and accurate as of the date when made at and as of the Closing Date as though such representations and warranties were made at and as of such date, except for changes expressly permitted or contemplated by the terms of this Agreement;
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(b)
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Purchaser shall have performed and complied with all agreements, obligations, covenants, and conditions required by this Agreement to be performed or complied with by it on or prior to the Closing;
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(c)
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Purchaser shall have obtained all consents required by Purchaser to consummate the transactions contemplated hereby;
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(d)
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No suit, action, investigation, inquiry or other proceeding by any governmental body or other person or legal or administrative proceeding shall have been instituted or threatened which questions the validity or legality of the transactions contemplated hereby;
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(e)
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On the Closing Date there shall be no effective injunction, writ, preliminary restraining order or any order of any nature issued by a court of competent jurisdiction directing that the transactions provided for herein or any of them not be consummated as provided or imposing any conditions on the consummation of the transactions contemplated hereby which Seller deems unacceptable in its sole discretion; and
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(f)
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Purchaser shall deliver to Seller a subscription agreement for Seller’s review and signature to enable Seller to obtain the common shares and warrants of Greenfieldasoutlined in Section 1 above.
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(g)
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Seller shall have had reasonable time to review, and negotiate any changes to the same, any membership agreement, operating agreement or other governing document of Purchaser.
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(a)
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The transfer of the Assets to Purchaser from Seller on the Closing Date, free and clear of all liens, claims, charges, security interests, mortgages, pledges, restrictions and other encumbrances of any kind whatsoever, except as disclosed in Schedule 1;
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(b)
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The representations and warranties of Seller provided herein being true and correct as of the date of this Agreement and as of the Closing Date as if such representations and warranties were made on and as of the Closing Date;
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(c)
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Seller shall have performed all obligations and complied with all other covenants and provisions required to be performed or to be complied with under this Agreement;
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(d)
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No suit, action, investigation, inquiry or other proceeding by any governmental body or other person or legal or administrative proceeding shall have been instituted or threatened which questions the validity or legality of the transactions contemplated hereby; and
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(e)
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On the Closing Date there shall be no effective injunction, writ, preliminary restraining order or any order of any nature issued by a court of competent jurisdiction directing that the transactions provided for herein or any of them not be consummated as provided or imposing any conditions on the consummation of the transactions contemplated hereby which Purchaser deems unacceptable in its sole discretion.
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(a)
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Seller has all right, power and authority to enter into this Agreement and to consummate the transaction contemplated hereby. Seller has taken all actions and obtained all authorizations and approvals, if any, necessary for (i) the execution, delivery and performance of this Agreement, (ii) the sale, assignment, transfer and conveyance of the Assets to Purchaser, and (iii) the consummation of the transaction contemplated by this Agreement. This Agreement and the other documents executed or to be executed by Seller in connection herewith constitute valid and binding obligations of Seller enforceable in accordance with their respective terms;
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(b)
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Seller warrants to Purchaser that it has good and marketable title to the Assets, free and clear of any and all liens, claims, charges, security interests, mortgages, pledges, restrictions and encumbrances of any kind whatsoever, except as noted in Schedule 1, and further warrants that it has full right and authority to sell, transfer, assign, and deliver the Assets as specified in this instrument.
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(c)
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To the best of Seller’s knowledge, no consent, approval, permit, license or authorization of or declaration, filing or registration with any federal, state, local or foreign governmental or regulatory authority, court or arbitrator, or any subdivision, bureau, commission or department thereof, or any person or other entity is or will be required in connection with the execution, delivery or performance by Seller of this Agreement and the consummation of the transaction contemplated hereby;
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(d)
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To the best of Seller’s knowledge, neither the execution and delivery of this Agreement nor the consummation of the transaction contemplated hereby will result in a breach of, or constitute a default under, or give rise to any right of termination, cancellation, or acceleration under, or result in the imposition of any lien or encumbrance upon any of the Assets pursuant to any agreement or other instrument to which Seller is a party or by which Seller or any of the Assets may be bound or subject, and will not violate or conflict with or result in a breach of, or default under, the terms of any law or governmental regulation or any agreement or instrument to which Seller is bound;
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(e)
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To the best of Seller’s knowledge, there are no actions, suits, arbitrations, proceedings at law or in equity or other legal, administrative or governmental proceedings pending or, to Seller’s best knowledge, threatened against or relating to Seller or the Assets;
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(f)
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Seller has or will have at the Closing Date good and marketable title to all of the Assets, free and clear of all liens, charges, encumbrances, security interests, restrictions, mortgages, pledges or claims of any nature whatsoever of any third parties, except as notes in Schedule 1;
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(g)
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To the best of Seller’s knowledge, the financial statements and tax returns provided to Purchaser in connection with this asset purchase are true and correct and fairly present the financial condition and results of operation of Seller as of the times and for the periods referred to therein and Seller knows of no facts which would negatively affect the ongoing viability of Seller’s business in a material manner;
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(h)
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As of the Closing Date, Seller has not received any notification, and has no knowledge, that it has infringed, or is now infringing, on any trade name, trademark, service mark or copyright belonging to any other person, firm or corporation.
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(i)
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To the best of Seller’s knowledge, no person, firm or corporation has or will have, as a result of any action of Seller, any right, interest or claim against Purchaser for any commission, fee or other compensation as a finder or broker, or for acting in any similar capacity, in connection with the transaction provided for by this Agreement, and Seller will pay and hold Purchaser harmless from any and all liabilities, obligations and costs with respect to any commission, fee or other compensation which may be payable by Seller, including any such fee payable to Confidential Business Sale, in connection with the transaction provided for by this Agreement;
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(a)
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Purchaser is a company duly organized, validly existing and in good standing under the laws of Nevada with all requisite corporate power and authority to own, hold or lease the rights, properties and assets it will acquire, hold or lease pursuant to the transactions contemplated by this Agreement, to carry on the business upon the consummation of the transactions contemplated by this Agreement, and to execute, deliver and perform this Agreement and other documents to be executed by Purchaser in connection with this transaction.
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(b)
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All corporate and other proceedings, including without limitation all requisite action by the members of Purchaser required to authorize the legal and valid execution, delivery and performance of this Agreement and other documents related to this transaction and its consummation of all of the transactions contemplated by this Agreement have been duly taken by Purchaser. This Agreement has been duly authorized, executed and delivered by, and is the valid and binding obligation of Purchaser.
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(a)
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Seller agrees to indemnify, defend and hold harmless Purchaser against and from any and all liabilities, damages, obligations, claims, costs and expenses arising out of or resulting from Seller’s ownership of the Assets, and any misrepresentation, breach of warranty or nonfulfillment of any covenant or agreement on the part of Seller under this Agreement. Purchaser agrees to indemnify, defend and hold harmless Seller against and from any and all liabilities, damages, obligations, claims, costs and expenses arising out of or resulting from Purchaser’s ownership of the Assets and any misrepresentations, breach of warranty, or any nonfulfillment of any covenant or agreement on the part of Purchaser under this Agreement.
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(b)
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Seller agrees to indemnify, defend and hold harmless Purchaser against and from any and all liabilities, damages, obligations, claims, costs and expenses arising out of any work completed relating to the Business by Seller prior to the Closing Date, and Purchaser agrees to indemnify, defend and hold harmless Seller against and from any and all liabilities, damages, obligations, claims, costs and expenses arising out of any work performed relating to the Business by Purchaser after the Closing Date.
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(c)
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The indemnification by either Seller or Purchaser as provided to the other in this Agreement shall mean the defense or resistance of any legal action, threat of legal action or other process or proceeding whether by a private individual, an entity or government or quasi-governmental body and shall include the payment of any judgment obtained against the indemnified party. The indemnifying party shall pay all costs associated with the defense or any claim against the indemnified party and all expenses thereof including the reasonable attorney fees incurred by the non-indemnifying party. Notwithstanding the foregoing, the indemnifying party shall be entitled to employ their own legal counsel or other professionals required to resist or indemnify the other party from any action which is the responsibility of the indemnifying party.
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(d)
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Purchaser and Seller shall cooperate with and assist each other in the prosecution and defense of any litigation arising out of the operation of the Business, and shall agree in good faith on a written procedure relating to such cooperation and assistance. Any party requesting the assistance of any other party hereto shall pay the assisting party any reasonable out of pocket costs and expenses incurred by the assisting party (including, but not limited to, any reasonable travel costs and expenses) relating to such cooperation and assistance.
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(e)
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Seller will, from time to time after the Closing, upon the reasonable request of Purchaser and at Purchaser’s expense, execute, acknowledge, and deliver all such further acts, deeds, assignments, transfers, conveyances, and assurances as may be reasonably required to transfer to and to vest in Purchaser all right, title, and interest of Seller in and to the Assets, and to protect the right, title, and interest of Purchaser in and to all of the Assets.
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(f)
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From and after the Closing, for a period of one year, during regular business and with reasonable prior notice, Purchaser agrees to provide Seller with access to the books and records of the Business as Seller shall request in connection with Seller’s reasonable need for such records in connection with tax or other financial accounting matters provided such access will not interfere with Purchaser’s operation of the Business.
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(g)
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Officers and Directors of Greenfield and Carmela’s CO
. On the Closing Date, the Officers and Directors of Greenfield and Carmela’s CO shall be as follows:
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Greenfield:
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Name
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Position | |
Ron Heineman
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President & Chief Executive Officer & Director | |
Henry Fong | Director & Chief Financial Officer |
Carmela’s CO:
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Name
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Position | |
Ron Heineman | Chairman, Director & Chief Executive Officer |
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(a)
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The transactions contemplated herein may be terminated at any time but not later than the Closing Date:
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(ii)
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By the Seller on the Closing Date, if any of the conditions to Seller’s obligations provided for in Section 7 of this Agreement shall not have been met or waived in writing by Seller prior to such date; or
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(iii)
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By the Purchaser on the Closing Date, if any of the conditions to Purchasers obligations provided for in Section 8 of this Agreement shall not have been met or waived in writing by Purchaser prior to such date.
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(b)
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In the event of termination by the Purchaser or by the Seller, or both, pursuant to Section 12(a) hereof, written notice thereof shall forthwith be given to the other party and the transactions contemplated by this Agreement shall be terminated, without further action by Purchaser or Seller except as hereinafter provided in subparagraphs (i) and (ii) of this Section 12(b). If the transactions contemplated by this Agreement are terminated as provided herein:
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(i)
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Each party will redeliver all documents, work papers and other material of any other party relating to the transactions contemplated hereby, whether so obtained before or after the execution hereof, to the party furnishing the same;
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(ii)
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All confidential information received by any party hereto with respect to the business of any other party or its subsidiaries shall be treated in accordance with Section 24 hereof; and
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(iii)
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No party hereto shall have any liability or further obligation to any other party to this Agreement.
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Seller:
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Purchaser:
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COHP, LLC
Mr. Ron Heineman, Manager
118 West Fifth Street Suite 201
Covington, Kentucky 41011
Phone: (859) 261-1742
Fax: (859) 251-2595
Email: rheine9402@ail.com
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Greenfield Farms Food, Inc.
Mr. Henry Fong, President
319 Clematis Street – Suite 400
West Palm Beach, Florida 33401
Phone: (561) 514-9042
Fax: (561) 514-9046
Email: henryfong1@gmail.com
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SELLER: | PURCHASER: | |||
COHP, LLC | CARMELA’S PIZZERIA CO, INC. | |||
/s/ Ron Heineman
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/s/ Henry Fong
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Mr. Ron Heineman, Manager
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Mr. Henry Fong, President
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GREENFIELD FARMS FOOD, INC. | ||||
/s/ Henry Fong | ||||
Mr. Henry Fong, President |