UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common Stock, par value $0.001 per share | MBGH | OTC Markets |
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| Item 7.01. | Regulation FD Disclosure |
MBG Holdings Inc. (the “Company”) has announced that its subsidiary AMR Resources, LLC has finalized an Asset Purchase Agreement for the sale of its division that provides fiber services to Alliance Global Solutions, LLC as of September 15, 2023. The parties have a Transition Services Agreement in place with regard to the sale of the fiber services business.
| Item 1.02 | Termination of a Material Definitive Agreement |
It has been confirmed in writing by N2Grate that the Company’s subsidiary AMR Resources, LLC has not been awarded and issued a renewed Purchase Order for Phase 8 of its National Deployment division. As such AMR Resources, LLC will be ceasing operations of its national deployment division and closing the department including a layoff of all employees related to this division.
| Item 5.01 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On September 18,2023 Director Antonio Munoz tendered his written resignation as a Director of MBG Holdings, Inc to the Company. The resignation as a Director was not the result of any disagreement with the Company on any matters relating to the Company’s operation, policies or practices.
2.01 Completion of Acquisition or Disposition of Assets
The Company's subsidiary AMR Resources, LLC intends to hold a warehouse sale to sell off equipment and assets that were used in projects that can no longer be Returned. It is the intent of the Company to clear AMR Resources, LLC’s warehouse through the sale of equipment and assets as well as disposal where applicable.
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: September 19, 2023 | MBG Holdings Inc. | ||
| By: | /s/ Joseph Baum | ||
| Name: | Joseph Baum | ||
| Title: | Chief Restructuring Officer | ||
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