Form 8-K for AGRITEK HOLDINGS, INC.
4-Jun-2015
Other Events, Financial Statements and Exhibits
Item 8.01. Other Events.On March 23, 2015, the Company announced the execution of a Master Consulting Financing & Licensing Agreement (the “Agreement”) with Green Leaf Farms Holdings Inc. (“Green Leaf”) an 80% owned subsidiary of Players Network, a fully reporting diversified company with holdings in two primary areas, Media and Medical Marijuana. In the Agreement, executed by Green Leaf, Green Leaf stated it had signed a five (5) year lease agreement with two five (5) year options, with a third party to the real property located at 203 Mayflower, North Las Vegas. Based on the forgoing, the Company had agreed to provide certain consulting and financings to Green Leaf and/or Players Network, for the property that Green Leaf was leasing from the third party. After both parties executed the Agreement, the Company had discovered that Green Leaf’s lease for the Mayflower address is for three years without any renewal options and therefore was not consistent with the executed Agreement. Accordingly, based on this misrepresentation from Green Leaf, the Company is terminating the Agreement and has no obligations under the Agreement. In the termination letter sent to Green Leaf and Players Network, the Company has reserved all of its’ legal rights for damages caused to the Company pursuant to the breach described above.
Item 9.01. Financial Statements and Exhibits.(d) Exhibits.
Exhibit No. Description 10.1 Termination letter of the Master Consulting Financing & Licensing Agreement by and between the Company and Green Leaf Farms Holdings Inc. 99.1 Agritek Holdings, Inc. press release dated March 23, 2015. |
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com