Item 2.01 - Completion of Acquisition or Disposition of Assets.
On September 15, 2020, as part of its sales of unregistered securities to
certain corporation, Kid Castle Educational Corporation acquired 100% interest
in, and control of Community Economic Development Capital, LLC (a California
Limited Liability Company), a specialty real estate holding company for
specialized assets including, affordable housing, opportunity zones properties,
medical real estate investments, hemp and cannabis farms, dispensaries
facilities, CBD related commercial facilities, industrial and commercial real
estate, and other real estate related services.
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Item 3.02 - Unregistered Sales of Equity Securities
On September 15, 2020, Kid Castle Educational Corporation (the "Company")
entered into a stock purchase agreement with certain corporation related to our
President and CEO with respect to the private placement of 900,000 shares of its
preferred stock at a purchase price of $3 in cash and a transfer of 100%
interest in, and control of Community Economic Development Capital, LLC (a
California Limited Liability Company). The shares were issued to the investors
without registration under the Securities Act of 1933 based upon exemptions from
registration provided under Section 4(2) of the Act and Regulation D promulgated
thereunder. The issuances did not involve any public offering; no general
solicitation or general advertising was used in connection with the offering.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Securities Purchase Agreement dated September 15, 2020
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