Current Report Filing (8-k)
August 19 2021 - 9:33AM
Edgar (US Regulatory)
U.S. 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
: August 18, 2021
SPORTSQUEST, INC.
(Exact name of small business issuer as specified
in its charter)
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Delaware
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033-09218
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20-4742564
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(State or jurisdiction
of
incorporation or organization)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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500 Australian Avenue, Suite 600, West
Palm Beach, Florida
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33401
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(Address of principal executive offices)
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(Zip Code)
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Registrant's telephone number,
including area code: 954-837-6833
______________________________________________________
(Former Name or Former Address, if Changes Since
Last Report)
Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions):
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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Common and Preferred
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SPQS
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OTC Markets
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Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if
the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
ITEM 8.01 - OTHER EVENTS.
The sale of the company Entuit wireless business has concluded. The
company realized approximately $1.8 million dollar profit.
The sale will further see the company engaged in an additional 3 years
of consulting fee services and 10 years of commission services for using the company’s patents.
This division of the company is being managed and operated by Jeff
Burns, the company’s current CEO, who is a licensed pilot and a captain. The company intends to use the cash proceeds to commence
the development of Freebie Quotes, a new on line, high end contractor business venture. Similar to Angie's List and others, the SPQS
Freebie Quotes app will have certain concierge services for both the marine and aviation industries that are not offered on the competitors’
platforms. Verified marketing research expects the home service market to reach $1,133 Billion by 2026 @ CAGR of 18.91%.
With the sale of the current wireless operating business subsidiary,
the company is well capitalized and sees no need for any further dilution to fund its current new venture.
The company’s other venture of sports entertainment is
unrelated to the app business. A new CEO will be named for the sports entertainment division of the company, and Jeff Burns will
focus solely on the Freebie Quotes development and deployment.
SIGNATURES
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.
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SportsQuest, Inc.
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By:
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/s/ Zoran Cvetojevic
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Zoran Cvetojevic
Director
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Date: August 19, 2021
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