DLTI 8-K
DLT Resolution Inc. (DLTI)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
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Item 2.01 Completion of Acquisition or Disposition of Assets.
On February 14, 2024 DLT Resolution Inc. (or “The Company”) acquired 19.9% of the issued and outstanding capital of Ontario Canada’s Ciscom Corp.
Ciscom Corp. operates as a Canadian holding company, managing two entities in the Information and Communication Technology (ICT) sector. The company primarily focuses on acquiring substantial SMEs with proven profitability records, making them attractive targets for entrepreneurs seeking equity, transition, or lacking a defined succession plan.
Ciscom on gross revenues of CAD $35,000,000, (Unaudited), a EBITDA (non-normalized) of $950,000 is expected for the period ended December 31, 2023.
Ciscom Corp. is publicly traded and listed on the Canadian Securities Exchange as well as the US OTCQB Market. symbols (CSE:CISC)(OTCQB:CISCF) respectively.
The Company issued 10,261,214 restricted common shares in the acquisition.
Item 8.01 Other Events
On February 19, 2024 The Company signed a Term Sheet to acquire 100% ownership of Global Motor Trade LLC, Global Motor Trade International LLC, SJ Auto Trade LLC, and WEC International LLC. These strategic acquisitions reinforce DLT Resolution Inc.'s commitment to its growth strategy and market expansion.
Global Motor Trade Group of Companies, based in the United States, specializes in international vehicle wholesale distribution and sale, with a primary focus on Canada, China, Europe, Dubai, and worldwide. This strategic move will contribute a combined annual gross revenue of $50,858,000 USD to DLT Resolution Inc.
The acquisition is an all-stock transaction, with an estimated 14,000,000 restricted common shares of DLTI to be issued upon closing. Reg Company expects to finance the stock purchase agreement and close the transaction before the end of the 1st quarter 2024.
The information in this report and the exhibits hereto may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Such statements are made based on the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results or events may differ from those anticipated by forward-looking statements.
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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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Date: February 21, 2024 | By: | /s/ Drew Reid |
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| Name: | Drew Reid |
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| Title: | President and Chief Executive Officer |
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