Third Life World LLC acquired all 200 outstanding shares of Series A Preferred Stock from Marc and Jacquie Angell for an aggregate purchase price of $140,000. The Series A Shares represent 80% of the Company's aggregate voting power, resulting in a change in control with Jorge Guinovart as the new controlling party. In connection with the transaction, the Company issued eight shares of Series B Preferred Stock to the Sellers, convertible into Common Stock equal to 4% of outstanding shares post-conversion. CEO Marc Angell will resign upon closing and enter a three-month consulting arrangement at $5,000 per month plus a $115,000 one-time bonus. Transglobal Management Group operates in the management services industry.
