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) October 9, 2017

 

 

 

NET SAVINGS LINK, INC./DE

(Exact name of registrant as specified in its charter)

 

 

 

Delawere   000-53346   82-1337551

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

2374 Route 390

P.O. Box 609

 
Mountainhome, PA 18342
(Address of principal executive offices) (Zip Code)

 

(570) 595-2432

(Registrant’s telephone number, including area code)

 

 

(Former name or former address, if changed since last report.)

 

 

 

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 (see General Instruction A.2. below):

 

[  ] 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))

 

 

 

     
 

 


ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

 

On May 8, 2017, the Company entered into a definitive acquisition agreement with Danyi Zhang, a private individual, to acquire one-hundred percent (100%) of Shanghai Hua Si Tai Medical Consultation Company Limited, in exchange for a cash payment of eight-hundred thousand ($ 800,000.00) U.S. Dollars.

 

On October 9, 2017, the Company and Danyi Zheng amended the May 8, 2017 definitive acquisition agreement. The Company will now acquire seventy percent (70%) of Shanghai Hua Si Tai Medical Consultation Company Limited, in exchange for the sum of four-hundred thousand ($ 400,000.00) U.S. Dollars, which is payable in the form of a non-convertible promissory note, bearing 8% interest per annum. The duration of the note is 12 months, at which time the note is due in full, along with any accrued interest. The closing of this agreement is effective immediately upon signing.

 

In addition, the parties agree that the Company will provide Shanghai Hua Si Tai Medical Consultation Company Limited with working capital in the sum of four-hundred thousand ($ 400,000.00) U.S. Dollars during the 12 months following the signing of this agreement.

 

ITEM 7.01 REGULATION FD DISCLOSURE.

 

Today, the Company’s CEO, James A. Tilton, announced the execution and closing of an amended Definitive Acquisition Agreement with Danyi Zhang, a private individual.

 

Section 9 - Financial Statements and Exhibits

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

The following exhibit is filed herewith:

 

2 Amended Definitive Acquisition Agreement dated October 9, 2017

 

    2 of 3
 

 

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.

 

Date: October 10, 2017

 

  NET SAVINGS LINK, INC.
   
  /s/ James Tilton
  James Tilton, Chief Executive Officer

 

    3 of 3
 

 

 

 

AMENDED DEFINITIVE ACQUISITION AGREEMENT

 

This Acquisition Agreement is between the following parties:

 

Net Savings Link, Inc. (NSAV)

James A. Tilton, President

2374 Route 390

P.O. 609

Mountainhome, PA 18342

 

and

 

Danyi Zhang

445 Jiangning Road

Suite 16D

Shanghai, PR China 200041

 

This Amended Definitive Acquisition Agreement replaces the Definitive Acquisition Agreement signed by the parties on May 8, 2017, which is now null and void.

 

Transaction Details:

 

NSAV desires to purchase 70% of Shanghai Hua Si Tai Medical Consultation Company Limited (SHST), whose main asset is Shanghai Vital Strategic Research Institute (SVSR). Danyi Zhang desires to sell 70% of SHST to NSAV. The proposed transaction is as follows:

 

The parties agree that NSAV will purchase 70% of SHST for the sum of $ 400,000. U.S. Dollars, which is payable in the form of a non-convertible promissory note, bearing 8% interest per annum. The duration of the note is 12 months, at which time the note is due in full, along with any accrued interest.

 

In addition to the promissory note, the parties agree that NSAV will provide SHST with working capital in the sum of $ 400,000. U.S. Dollars during the 12 months following the signing of this agreement.

 

Danyi Zhang will supply to NSAV current audited financial statements for SHST according to U.S. GAAP no later than December 1, 2017. Danyi Zhang confirms that the December 31, 2016 SHST financial statements previously provided to NSAV are true and accurate.

 

Danyi Zhang will assist NSAV in conducting and completing full due diligence on SHST immediately after the issuance of said promissory note.

 

 

 

 

Page 2

 

NSAV undertakes that it will begin updating and upgrading the SVSR English and Chinese websites within 1 week after the signing of this agreement. Danyi Zhang agrees to provide full assistance to NSAV in this endeavor.

 

NSAV is a public company, which trades on the OTC Markets in New York, under the stock symbol NSAV. NSAV is incorporated in the U.S. state of Colorado and is registered to do business in the U.S. state of Pennsylvania.

 

SHST is a privately held company, incorporated in Shanghai, PR China.

 

The closing of this agreement is immediate upon the signing by both parties and is conditional on the issuance of the signed said promissory note by both parties.

 

The above represents this Amended Definitive Acquisition Agreement in its entirety and is subject to the laws of the State of Pennsylvania and is made effective on the date signed below.

 

Date: October 9, 2017

 

  NET SAVINGS LINK, INC.
   
  /s/ James Tilton
  James Tilton, Chief Executive Officer

 

  Shanghai Hua Si Tai Medical Consultation Company
   
  /s/ Danyi Zhang
  Danyi Zhang, Owner