Attached files
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| EX-10 - INTELLECTUAL PROPERTY ASSIGNMENT AGREEMENT - RAADR, INC. | witd_ex10.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 25, 2012
| WHITE DENTAL SUPPLY, INC. | |||||
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| Nevada | 000-53991 | 20-4622782 | |||
| (State of Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||
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| 8965 S. Eastern Ave., Suite 260P |
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| Las Vegas, Nevada | 89123 | ||||
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| Registrant’s telephone number, including area code: | (702) 879-8565 | ||||
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| (Former Name or Former Address, if Changed Since Last Report) | |||||
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| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | |||||
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| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||
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| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||
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| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||
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| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On July 25, 2012, the Registrant entered into and closed an Intellectual Property Assignment Agreement (“Agreement”) by and between the Registrant and Mr. Sebastian Barr, an individual (“Seller”). In accordance with the Agreement, the Registrant acquired certain patents, prototypes and technical information the Seller (“Assets”), pertaining to child safety devices. In exchange for the Assets, the Registrant agreed to pay the Seller an aggregate of $42,500, pursuant to the following schedule:
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An initial payment of $10,000 paid to Sunbeam Packing Services, LLC upon execution of the Agreement;
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$24,500 paid to the Seller upon execution of the Agreement
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The balance of $8,000 shall be paid in two installments: $4,000 upon the first anniversary date of the Agreement and $4,000 upon the second anniversary date of the Agreement.
Additionally, the Registrant has agreed to pay to the Seller royalties of 2.5% of gross sales of products based on or directly derived from the Assets. In the event the Registrant sells, assigns of otherwise transfers the Assets, the Registrant has agreed to pay the Seller 2.5% of the gross amount of the sale of the Assets.
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
See Item 1.01, above.
ITEM 5.06 CHANGE IN SHELL COMPANY STATUS
The acquisition of the physical and intellectual properties pursuant to the July 25, 2012 Intellectual Property Assignment Agreement involved a negligible value, did not result in the Registrant acquiring significant operating assets or any revenue whatsoever, and, accordingly, the Registrant remains a shell company.
ITEM 9.01 EXHIBITS
| Exhibit Number | Name and/or Identification of Exhibit |
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| 10 | Intellectual Property Assignment Agreement |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WHITE DENTAL SUPPLY, INC. | ||
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| Signature | Title | Date |
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| /s/ Frederick B. Lawrence | President and CEO | July 30, 2012 |
| Frederick B. Lawrence |
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| /s/ Patrick Deparini | Secretary | July 30, 2012 |
| Patrick Deparini |
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| /s/ Patrick Deparini | Chief Financial Officer | July 30, 2012 |
| Patrick Deparini |
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