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):
January 18,
2019
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 (the “Purchase and
Sale Agreement”) with Houston LD, LLC for the sale of 124
lots located at its Black Oak project. Through certain
subsidiaries, SeD Intelligent Home Inc. (the “Company”)
owns 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 and is one of
the Company’s two real estate projects. Pursuant to the
Purchase and Sale Agreement, it was agreed that 124 lots would be
sold for a range of prices based on the lot type. In addition,
Houston LD, LLC agreed to contribute a “community enhancement
fee” for each lot, collectively totaling $310,000, which is
currently held in escrow. 150 CCM Black Oak, Ltd. will apply these
funds exclusively towards an amenity package on the property. The
closing of the transactions contemplated by the Purchase and Sale
Agreement was subject to Houston LD, LLC completing due diligence
to its satisfaction.
On
October 12, 2018, 150 CCM Black Oak, Ltd. entered into an Amended
and Restated Purchase and Sale Agreement (the “Amended and
Restated Purchase and Sale Agreement”) for these 124 lots.
Pursuant to the Amended and Restated Purchase and Sale Agreement,
the purchase price remained $6,175,000, 150 CCM Black Oak, Ltd. was
required to meet certain closing conditions and the timing for the
closing was extended.
On
January 18, 2019, the sale of 124 lots in Magnolia, Texas was
completed.
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:
January 25, 2019
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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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