Item 1.01 Entry into a Material Definitive Agreement.
On March 15, 2023, the Registrant and Care National Healthcare Services, Inc.
("Care National") closed a material definitive agreement. Pursuant to the terms
of the agreement, the Registrant sold its real property located at 16561 N. 92nd
Street, Ste. 101, Scottsdale, AZ 85260, to Care National in exchange for a
purchase price of $2,000,000.00, with net proceeds to the Registrant of
$1,358,710.56. But for the material definitive agreement, no relationship exists
between the Registrant and Care National.
The closing of the purchase and sale agreement extinguishes the Registrant's
mortgage debt on the property, along with all outstanding principal and
interest.
Concurrent with the sale and purchase agreement closing, the Registrant and Care
National entered into a commercial lease for the Registrant's current office
located at 16561 N. 92nd Street, Unit D101, Scottsdale, AZ 85260, where the
Registrant will maintain its executive offices. The term of the lease is one
year. The monthly rent is $9,000 per month.
Item 9.01 Financial Statements and Exhibits
Exhibit No. Document Location
10(i) Purchase/Sale Agreement Filed Herewith
10(ii) Commercial Lease Filed Herewith
Cover Page Interactive Data File (formatted as Inline XBRL and
104 contained in Exhibit 101)
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