Item 2.01. Completion of Acquisition or Disposition of Assets.
The registrant previously filed a Form 8-K on May 10, 2022 with the terms of
this acquisition, but inadvertently erroneously reported under Item 1.01.
On May 4, 2022, Cruzani, Inc., Bowmo Merger Sub, Inc., Bowmo, Inc., and the
shareholders of Bowmo, Inc. entered into a reverse triangular merger, pursuant
to which Bowmo, Inc. was the surviving corporation. As a result of the merger,
registrant acquired from Bowmo the following assets:
Bowmo's human resources software consists of an Artificial Intelligence ("AI")
driven platform to automate the end-to-end hiring processes with its AI-based
matching engine while providing just-in-time content, resources, and tools, such
as video interviewing and cultural and technical assessments so that hiring
organizations can vet their candidates.
As consideration for the assets Cruzani issued to Bowmo's two majority
shareholders, Michael Lakshin and Edward Aizman, a total of 1,000,000 shares of
its Series G Preferred Stock holding the voting rights to 78% of the total
voting equity securities. Mr. Lakshin was issued 448,000 shares and Mr. Aizman
was issued 552,000 shares.
Item 5.01
Change of Control of the Registrant.
As a result of the merger, on May 4, 2022, control of registrant changed from
its prior majority shareholder, Conrad R. Huss, to Michael Lakshin and Edward
Aizman who now control the voting rights to 78% of the total voting equity
securities.
In addition, on May 9, 2022, at a meeting of registrant's Board of Directors,
Mr. Huss appointed Mr. Lakshin and Mr. Aizman as additional directors. Mr.
Lakshin and Mr. Aizman now hold two of the three positions on Bowmo's Board of
Directors. Prior to the merger, Conrad R. Huss was the sole director and officer
of registrant.
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