ALDS APPlife Digital Solutions
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
November 16, 2020
Date of Report
(Date of earliest event reported)
APPLife Digital Solutions, Inc.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
50 California St.
San Francisco, CA 94111
Phone: (415) 439-5260
(Address and Telephone Number of Registrant’s Principal Executive Offices and Principal Place of Business)
o Written communications pursuant to Rule 425 under the Securities Act
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Item 8.01 other Events.
On November 16, 2020, APPlife Digital Solutions, Inc. (the “Company”) entered into a non-binding term sheet to acquire a company (the “Acquisition Target”) that currently generates approximately one million dollars ($1,000,000.00) in annual revenue and is projected to reach approximately three million dollars ($3,000,000.00) in annual revenue in 2021 and approximately five million dollars in annual revenue ($5,000,000.00) in 2022. The Acquisition Target generates the revenue from food distribution, selling of distribution routes and is developing SAAS software for supply chain management, which drastically reduces the loss incurred from delivering perishable food. The due diligence period shall be 30-35 days and the Company will begin due diligence immediately. If the due diligence is satisfactory by the Company and the Acquisition Target, it is anticipated definitive documents will be signed and the acquisition will close on or before December 20, 2020.
This Current Report on Form 8-K contains forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed in these forward-looking statements.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: November 23, 2020
APPLIFE DIGITAL SOLUTIONS, INC.
/s/ Matthew Reid
Principal Executive Officer