Current Report Filing (8-k)
November 18 2019 - 3:42PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The
Securities Exchange Act of 1934
|
|
|
Date
of Report (Date of earliest event reported):
|
November 18, 2019
|
|
|
Kid Castle Educational Corporation
(Exact name of registrant
as specified in its charter)
Florida
|
File Number: 333-39629
|
59-2549529
|
(State of incorporation)
|
(Commission File Number)
|
(IRS
Employer Identification No.)
|
370 Amapola Ave., Suite 200A, Torrance,
CA 90501
|
(Address of principal executive
offices) (Zip Code)
|
(310) 895-1839
|
(Registrant’s telephone number,
including area code)
|
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Forward-Looking
Statements
This report contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”) and Section 21E of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”). The Securities and Exchange
Commission encourages companies to disclose forward-looking information so that
investors can better understand a company’s future prospects and make informed
investment decisions. This report and other written and oral statements that we
make from time to time contain such forward-looking statements that set out
anticipated results based on management’s plans and assumptions regarding
future events or performance. We have tried, wherever possible, to identify
such statements by using words such as “anticipate,” “estimate,” “expect,”
“project,” “intend,” “plan,” “believe,” “will” and similar expressions in
connection with any discussion of future operating or financial performance. In
particular, these include statements relating to future actions, future
performance or results of current and anticipated sales efforts, expenses, the
outcome of contingencies, such as legal proceedings, and financial results.
Factors that could cause our actual results of operations and financial
condition to differ materially are discussed in greater detail under Risk
Factors section of this report.
We caution that the
factors described herein and other factors could cause our actual results of
operations and financial condition to differ materially from those expressed in
any forward-looking statements we make and that investors should not place
undue reliance on any such forward-looking statements. Further, any
forward-looking statement speaks only as of the date on which such statement is
made, and we undertake no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which such statement is made
or to reflect the occurrence of anticipated or unanticipated events or
circumstances. New factors emerge from time to time, and it is not possible for
us to predict all of such factors. Further, we cannot assess the impact of each
such factor on our results of operations or the extent to which any factor, or
combination of factors, may cause actual results to differ materially from
those contained in any forward-looking statements.
Item 2.01 - Completion of
Acquisition or Disposition of Assets.
Acquisition of CBD Assets from CannabidiolHemp
On
November
15, 2019, Kid Castle Educational Corporation, through its wholly owned
subsidiary, Cannabinoid Bioscinces, Inc. completed the acquisition of CannabidiolHemp (CannabidiolHemp.net), a premium CBD
quality aggregator and standard validator. This is the beginning of many
acquisitions to build Kid Castle into a major “pure-play” CBD operation in the United States and Canada. Starting with CBD
distribution channel, like CannabidiolHemp, Kid Castle is well on its way to
become the most vertically integrated “pure-play” CBD operation in the United
States and Canada. Once we have gained a good footing on the CBD distribution
channel, we would then move our acquisition machine towards the CBD
supply-chain to ensure full vertical integration. Control of CannabidiolHemp
will help Kid Castle in establishing a solid position to lead the
standardization of Farm Bill compliant hemp-based medicinal products to serve
the rapidly growing CBD market – a segment some analysts have predicted will
soar to $11 billion by 2026.
Kid Castle Educational Corporation (OTC: KDCE) controls and
manages Cannabinoid Biosciences, Inc. (“CBDZ”), a California based
Biopharmaceutical Company seeks to revolutionize and standardize the
pharmaceuticals and non-pharmaceutical CBD products formulations and
applications across the CBD market in the United States of America. Through Cannabinoid Biosciences, Inc. (CBDZ) Kid
Castle plans to push into the legal CBD business that includes:
(1) Ownership interest in certain businesses that extract, purchase and
distribute Bulk Pure CBD, Isolate, Hemp Oil, THC-free CBD Distillate and Crude
CBD Oil; (2) Partnerships with local farmers to grow farm bill compliant hemp
biomass; (3) Partnerships with extract facilities across the U.S. who
manufacture hemp-based ingredients to meet the specific needs financial
products in form of asset-backed loans, business property mortgages and other
financial products to qualified individuals/businesses in the legal-CBD
businesses.
Item 9.01.
|
Financial Statements and
Exhibits.
|
(d) Exhibits
Exhibit No.
|
|
Description
|
99.1
|
|
Press release dated November 18, 2019
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Kid Castle Educational Corporation
Dated:
|
November
18, 2019 By:
|
/s/
Frank I Igwealor
|
|
|
Frank
I Igwealor, CPA, JD, CMA, CFM
|
|
|
President
and CEO
|
Kid Castle Educational (PK) (USOTC:KDCE)
Historical Stock Chart
From Jan 2025 to Feb 2025
Kid Castle Educational (PK) (USOTC:KDCE)
Historical Stock Chart
From Feb 2024 to Feb 2025