IQ Acquisition (NY) Ltd. acquired 73.7% stake in Astika Holdings, Inc. from Sawgrass Resources, Inc., Eugene B. Settler, Jack M. Alvo and Stephen J. Ratelle for $0.35 million.
December 05, 2013 at 12:00 am
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IQ Acquisition (NY) Ltd. entered into a stock purchase agreement to acquire 73.7% stake in Astika Holdings, Inc. from Sawgrass Resources, Inc., Eugene B. Settler, Jack M. Alvo and Stephen J. Ratelle for $0.35 million on November 15, 2013. IQ Acquisition paid $0.28 million on November 14, 2013 and will pay remaining $0.08 million by November 21, 2013. IQ Acquisition will acquire 8.16 million shares of Astika. After the acquisition, IQ Acquisition will decide the size of Board of Directors of Astika, appoint its designees and obtain any necessary resignations from members of the Board. As per the terms of the agreement, Astika Holdings will dispose of its wholly owned subsidiary, Astika Music Entertainment, Inc. Michael H. Hoffman of Law Offices of Michael H. Hoffman, P.A. acted as legal advisor for the sellers. Mark Wayne Richards of Causeway Accounting Ltd. acted as accountant to IQ Acquisition (NY).
IQ Acquisition (NY) Ltd. completed the acquisition of 73.7% stake in Astika Holdings, Inc. from Sawgrass Resources, Inc., Eugene B. Settler, Jack M. Alvo and Stephen J. Ratelle on December 2, 2013.
Astika Holdings, Inc. is a New Zealand-based development stage company. The Company is focused on various strategic acquisitions in the textile, service, and/or industrial sectors to complement and capture the next wave of growth companies from Asia and New Zealand. The Company is primarily engaged in the business of developing, sampling, and selling its own brands of household textile products and manufacturing and selling other domestic and international brands of textile merchandise through Jiangsu Ziyang.
IQ Acquisition (NY) Ltd. acquired 73.7% stake in Astika Holdings, Inc. from Sawgrass Resources, Inc., Eugene B. Settler, Jack M. Alvo and Stephen J. Ratelle for $0.35 million.
ASTIKA HOLDINGS, INC. 
