Item 5.01 Changes in Control of Registrant.
On May 28, 2020, as a result of a private transaction, 29,500,000 shares of
common stock (the "Shares") of Ghar Inc. (the "Company"), were transferred from
Hamza Abid to Custodian Ventures LLC (the "Purchaser"). The consideration paid
for the Shares, which represent approximately 95% of the issued and outstanding
share capital of the Company on a fully-diluted basis, was $45,000. The source
of the cash consideration for the Shares was personal funds of the Purchaser. In
connection with the transaction, Hamza Abid released the Company from all debts
owed.
There are no arrangements or understandings among members of both the former and
new control persons and their associates with respect to the election of
directors of the Company or other matters. The information set forth in Item
5.02 of this Form 8-K is incorporated by reference into this Item 5.01.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Upon the change of control of the Company and the execution of the resignation
by Mr. Abid, which occurred on June 1, 2020, the existing director and officer
tendered his resignation. Accordingly, Hamza Abid, serving as the sole director
and as the only officer, will cease to be the Company's President, Chief
Executive Officer, Treasurer, Secretary and Director. Also on June 1, 2020,
David Lazar consented to act as the new President, CEO, CFO, Treasurer,
Secretary and Chairman of the Board of Directors of the Company.
David Lazar, 29, has been an officer and Chairman of the Company since June 1,
2020. David Lazar is a private investor with business experience. Mr. Lazar has
been a partner at Zenith Partners International since 2013, where he specializes
in research and development, sales and marketing. From 2014 through 2015, David
was the Chief Executive Officer of Dico, Inc., which was then sold to Peekay
Boutiques. Since February of 2018, Mr. Lazar has been the managing member of
Custodian Ventures LLC, where he specializes in assisting distressed public
companies. Since March 2018, David has acted as the managing member of Activist
Investing LLC, which specializes in active investing in distressed public
companies. David has a diverse knowledge of financial, legal and operations
management; public company management, accounting, audit preparation, due
diligence reviews and SEC regulations.
Other expertise includes early stage company capital restructuring, debt
financing, capital introductions, and mergers and acquisitions.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 DIRECTORS RESOLUTIONS OF GHAR INC.
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