TX HOLDINGS, INC.
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Georgia
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000-32335
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58-2558702
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(State or Other Jurisdiction of
Incorporation) |
(Commission File Number)
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(IRS Employer
Identification No.)
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12080 Virginia Blvd., Ashland, Kentucky 41102
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(Former Name or Former Address, if Changed Since Last Report)
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Section 8 – Other Events
Item 8.01
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Other Events
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On December 1, 2014, TX Holdings, Inc., a Georgia corporation (the “Company”), announced the acquisition of The Bag Rack, LLC dated November 21, 2014. A copy of the Company’s press release announcing the acquisition is attached hereto as Exhibit 99.1 and is incorporated herein by this reference.
“The Bag Rack”, LLC, was acquired from Mr. Shrewsbury and Mr. Rickie Hagen, the founding members of “The Bag Rack”, LLC. In addition to a nominal purchase price of $500, as consideration for the acquisition, the company agreed to pay an earn out including royalties to the developer of the product, which will leave the company with a net profit in excess of 40%. “The Bag Rack” has a provisional patent pending related to the product. The terms of the acquisition were reviewed and approved by the independent directors of the company.
Item 9.01
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Financial Statements and Exhibits
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(d) | Exhibits. |
99.1 | TX Holdings, Inc., Press Release, dated December 1, 2014, filed herewith. |
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TX HOLDINGS, INC. | |||
Date: December
1, 2014
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By:
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/s/ William L. Shrewsbury
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Chief Executive Officer and Chairman
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