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 3, 2018
SeD Intelligent Home 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
N/A
(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))
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 July
3, 2018, 150 CCM Black Oak, Ltd., a Texas Limited Partnership,
entered into a Purchase and Sale Agreement with Houston LD, LLC for
the sale of 124 lots located at its Black Oak project. SeD
Intelligent Home Inc. (the “Company”) owns 69% of 150
CCM Black Oak, Ltd. (through its subsidiaries, the Company
indirectly owns the General Partner and one of the three Limited
Partners of 150 CCM Black Oak, Ltd.).
Black
Oak is a 162 acre land infrastructure development and sub-division
project situated in Magnolia, Texas north of Houston. Pursuant to
the Purchase and Sale Agreement, the 124 lots will be sold for a
range of prices based on the lot type. In addition, Houston LD, LLC
has agreed to pay a “community enhancement fee” for
each lot, which 150 CCM Black Oak, Ltd. will apply exclusively
towards funding an amenity package on the property.
The
closing of the purchase of these lots is contemplated to occur
within thirty (30) days after the expiration of a forty-five (45)
day due diligence inspection period. The closing of the
transactions contemplated by the Purchase and Sale Agreement are
subject to Houston LD, LLC completing due diligence to its
satisfaction. Houston LD, LLC may cancel or terminate the Purchase
and Sale Agreement at any time during the forty-five (45) day
inspection period. Houston LD, LLC has delivered a $50,000 deposit.
In the event that Houston LD, LLC intends to proceed with the
purchase of the 124 lots, within two (2) days of the expiration of
the inspection period, Houston LD, LLC will deliver an additional
$100,000 deposit that is non-refundable unless 150 CCM Black Oak,
Ltd. defaults under the Purchase and Sale 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.
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SeD Intelligent Home Inc.
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Date:
July 10, 2018
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By:
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/s/
Rongguo (Ronald) Wei
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Name:
Rongguo (Ronald) Wei
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Title:
Co-Chief Financial Officer
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