LOS ANGELES: Stargaze Entertainment Group Inc. (OTC: STGZ) announced that Scenebot Inc. has acquired a controlling interest in the company.
Pursuant to a Stock Purchase Agreement dated May 14, 2024, Scenebot purchased 25,000,000 common shares and 2,500,000 preferred shares of the Company from its controlling shareholder, Tony Green Organization Records Ltd. (TGO). The shares purchased from TGO give Scenebot voting control of the Company.
The Companys Board of Directors appointed Antonio Dutra as Chairman of the Board, CEO and Secretary. It is anticipated that Antonio Dutra will act as CEO in an interim capacity while the new management team is finalized. Tony Green resigned as an officer and director of the Company, but will remain as an advisor to assist Scenebot with the transition.
The Company also entered into a Debt Settlement Agreement with TGO to settle all outstanding debt owed by the Company to TGO. Pursuant to the terms of the Debt Settlement Agreement, the Company paid TGO $30,000 upon execution and will make payment of $30,000 for each of the next five months. The Company also transferred all intellectual property previously contributed by TGO back to TGO.
Scenebot is currently refining its plans for future operations of the Company and will announce those plans when they are finalized.
Scenebot is an entertainment technology company located in Los Angeles, California.
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