Business Context and Reporting Period
This Form 8-K was filed on April 17, 2016, by KT High-Tech Marketing, Inc. (formerly Grant Hill Acquisition Corporation). The filing reports a change in control and corporate name effective April 17-18, 2016. The company currently operates as a shell company with no active business operations, though it anticipates effecting a merger with a private company to develop a business plan.
Key Financial Metrics
The filing does not provide standard financial metrics such as revenue, profit, cash flow, margins, or debt levels, as the registrant is a shell company. The only financial transaction disclosed is the redemption of 19,400,000 shares at $0.0001 per share, totaling $1,940.
Material Changes Versus Prior Period
- Change in Control: A new majority shareholder acquired 97% of the outstanding common stock (20,000,000 shares issued at par).
- Share Redemption: 19,400,000 shares were redeemed for $1,940, leaving 20,600,000 shares outstanding post-issuance.
- Corporate Name: The company changed its name from Grant Hill Acquisition Corporation to KT High-Tech Marketing, Inc.
- Management Overhaul: All previous officers and directors resigned. Michael Mo was appointed as the sole Chief Executive Officer and director.
Guidance, Outlook, and Risks
Management intends to pursue future acquisitions or mergers to establish a business plan, but no agreements have been reached as of the filing date. The company explicitly states it remains a shell company until a business combination is completed. If an acquisition or merger occurs, a subsequent Form 8-K will be filed. The primary risk is the uncertainty of future business operations and the lack of current revenue-generating activities.
Key Facts for Investor Verification
- Verify the identity and background of the new majority shareholder(s) who acquired 97% of the company.
- Confirm the status of any potential merger targets or acquisition discussions mentioned by management.
- Review the company's cash position and ability to fund operations pending a merger, given the lack of disclosed liquidity.
- Monitor for future filings regarding the completion of a business combination or further capital raises.