Common Contracts
1 similar Share Exchange Agreement contracts
APPALACHIAN MOUNTAIN BREWERY, INC. AND SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2014 AND 2013Share Exchange Agreement • June 22nd, 2015
Appalachian Mountain Brewery, Inc. ("Appalachian Mountain Brewery", “AMB”, “The Company”) was initially organized under the laws of Florida on February 26, 1990. On December 18, 2013, Appalachian Mountain Brewery, LLC entered into a Share Exchange Agreement in which its membership interests were exchanged with the Company, a publicly held shell corporation at such time by the name of North Carolina Natural Energy, Inc. The acquisition was a tax-free exchange for federal and state income tax purposes and was accounted for as a reverse merger in accordance with FASB Accounting Standards Codification 805-40 “Reverse Acquisitions”. Upon acquisition, the name of the shell corporation was changed to Appalachian Mountain Brewery, Inc., and Appalachian Mountain Brewery, LLC, the North Carolina corporation, became a wholly owned subsidiary of Appalachian Mountain Brewery, Inc., the Florida corporation. The publicly traded shell corporation had not had a material operating history for several ye
