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):
December 29,
2020
LiquidValue Development Inc.
(Exact
name of registrant as specified in its charter)
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Nevada
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000-55038
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27-1467607
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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4800 Montgomery Lane, Suite 210
Bethesda, MD
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20814
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: 301-971-3940
NA
(Former
name or former address, if changed since last report)
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 (see General Instruction A.2.
below):
☐ Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act: None.
Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933
(§ 230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§ 240.12b-2 of this
chapter).
Emerging growth
company ☐
If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act.
☐
Item
1.01
Entry
Into A Material Definitive Agreement.
On
December 29, 2020, LiquidValue Development Inc. (the
“Company”) entered into a Management Services Agreement
(the “Management Services Agreement”) with Alset
International Limited (“Alset International”), pursuant
to which the Company will pay Alset International a one-time
payment of $360,000 for the services of certain Alset International
staff members the Company received in 2020, and will pay Alset
International $30,000 per month for services to be provided in
2021. This Management Services Agreement has a term that ends
December 31, 2021, and can be cancelled by either party on thirty
days’ notice. Alset International will provide the Company
with services related to the development of the Black Oak and
Ballenger Run real estate projects near Houston, Texas and in
Frederick, Maryland, respectively, and the potential development of
future real estate projects.
Alset
International is, through one of its subsidiaries, the majority
stockholder of the Company. One of the Company’s Co-Chief
Executive Officers and members of the Board of Directors, Fai H.
Chan, is the Chairman and Chief Executive Officer of Alset
International; the other Co-Chief Executive Officer of the Company,
Moe T. Chan, is a member of the Board of Alset International; and
one of the Company’s Co-Chief Financial Officers, Alan W. L.
Lui, is also a member of the Board and the Chief Financial Officer
of Alset International.
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.
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LiquidValue Development Inc.
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Date:
December 30, 2020
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By:
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/s/
Rongguo Wei
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Name:
Rongguo Wei
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Title:
Co-Chief Financial Officer
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