Item 8.01 Other Events.
The Registrant's subsidiary, Global3pl, Inc. (a Delaware corporation), formerly
Global Transition Corp. (a Delaware Corporation), formerly Cannagistics, Inc.,
(a Nevada corporation) and formerly Precious Investments, Inc., (a Nevada
corporation), filed a Chapter 7 Bankruptcy Petition in the United States
Bankruptcy Court District of Delaware, Case No. 22-10892-JTD, on September 22,
2022.
Global3pl, Inc., is a wholly owned subsidiary of the Registrant, Cannagistics,
Inc., (a Delaware corporation). Global3pl, Inc. became a wholly owned subsidiary
of the Registrant pursuant to reorganization conducted under Section 251(g) of
the Delaware General Corporation Law, as detailed and outlined in the Form 8-K
filed by the Registrant on May 6, 2021.
The filing in the United States Bankruptcy Court District of Delaware is only
with respect to the Registrant's wholly owned subsidiary, Global3pl, Inc. (a
Delaware corporation), formerly Global Transition Corp. (a Delaware
Corporation), formerly Cannagistics, Inc., (a Nevada corporation) and formerly
Precious Investments, Inc., (a Nevada corporation). At the time of the filing,
Global3pl, Inc., the wholly owned subsidiary of the Registrant, had debts
aggregating approximately $4,900,000.
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