-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SByv0CeGlBmPZpH+NeI8BfKtmva6QT097jfCri9ndPrin4Drhiufuj9rLvaGUVee JiWHBN/koZmi9D4YZ1yFUg== 0001025894-02-000022.txt : 20020413 0001025894-02-000022.hdr.sgml : 20020413 ACCESSION NUMBER: 0001025894-02-000022 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020110 ITEM INFORMATION: Acquisition or disposition of assets FILED AS OF DATE: 20020110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENESIS CAPITAL CORP OF NEVADA CENTRAL INDEX KEY: 0001083383 STANDARD INDUSTRIAL CLASSIFICATION: [9995] IRS NUMBER: 911947658 STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-27831 FILM NUMBER: 2506742 BUSINESS ADDRESS: STREET 1: 11701 SOUTH FREEWAY CITY: BURLESON STATE: TX ZIP: 76028 BUSINESS PHONE: 8172939334 MAIL ADDRESS: STREET 1: 11701 SOUTH FREEWAY CITY: BURLESON STATE: TX ZIP: 76028 8-K/A 1 gc_8ka201.txt AMENDMENT 1 TO CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Act of 1934 Date of Report: January 10, 2002 ------------------- GENESIS CAPITAL CORPORATION OF NEVADA. INC. ------------------------------------------------------ (Exact name of registrant as specified in its charter) Nevada 91-1947658 ------- ----------- (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) 2921 NW 6th Avenue, Miami, Florida 33127 ---------------------------------------------------------- (Address of principal executive offices, including zip code) 305-573-8882 ------------------------- (Issuer's telephone number) 11701 South Freeway, Burleson, Texas 76028 ------------------------------------------------------------ (Former name or former address, if changed since last report.) Item 2. Acquisition or Disposition of Assets Pursuant to an Agreement executed on December 26, 2001, made effective as of October 31, 2001 and a Statutory Warranty Deed dated October 30, 2001, the Registrant, through its subsidiary Senior Adult Lifestyle, Inc.("Senior"), acquired from National Residential Properties, Inc.("National") all of the right, title and interest of National in (i) a certain parcel of real property in Hebron, Connecticut; and (ii) four contracts to purchase certain parcels of real property in Watertown, New Milford, Granley and East Windsor, Connecticut. The Hebron property is subject to two mortgages having an aggregate principal balance of $ 315,000.00, which mortgages Senior assumed and agreed to pay as part of the consideration for the conveyance. The Registrant intends to use the properties acquired to develop active adult communities consisting of condominiums restricted to adults aged 55 years and over. As additional consideration for the conveyance to Senior, the Registrant agreed to issue to National 20,000,000 shares of the Registrant's common stock ("Shares") based on a value of $0.10 per share (determined on the basis of the average bid price of Genesis common stock during the week immediately prior to the effective date of October 31,2001) for an agreed consideration of $ 2,000,000. At the earlier of (a) the expiration of three (3) years from the date of the conveyance, or (b) at the time that National has sold all of the Shares, if the gross sales proceeds realized by National from the sale of the Shares is less than $ 2,000,000, the Registrant will be required to issue to National such additional shares of common stock in an amount based on the closing bid price as quoted on the OTC Bulletin Board on the day before the date of such additional share issuance as to make up the difference between said gross sales proceeds and $ 2,000,000. The Registrant, Senior and National have the same officers and directors. Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Genesis Capital Corporation of Nevada /s/ Richard Astrom ------------------------- Richard Astrom, President Date: January 8, 2002 Exhibits No. Description 10.1 Agreement between Genesis Capital Corporation of Nevada and National Residential Properties, Inc., dated as of October 31, 2001, executed December 26, 2001. EX-2.2 2 gc_8k201x2r.txt REVISED AGREEMENT Exhibit 2.2 AGREEMENT Dated as of: October 31, 2001 Between: Genesis Capital Corporation, a Nevada corporation; ("Genesis") And: National Residential Properties, Inc, ("National"). WHEREAS, National and Senior Adult Lifestyle, Inc., a Nevada corporation ("Senior"), which is a subsidiary of Genesis, entered into an Agreement dated October 30, 2001, a copy of which is attached hereto as Exhibit "A," whereby National assigned to Senior its rights in and to those certain Land Sate Contracts described in said Exhibit "A" and Senior assumed all of National's obligations under the Land Sale Contracts; WHEREAS, pursuant to said Exhibit "A" National executed in favor of Senior a Statutory Form Warranty Deed dated October 31, 2001, regarding the real property described in said Exhibit "A"; WHEREAS, Genesis desires to compensate National for the above described assignment and conveyance to Senior. NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, it is agreed as follows: 1. Genesis shall pay to National the sum of $2,000,000.00, which shall be paid to National in common stock of Genesis in the aggregate amount of 20,000,000 shares ("Genesis Shares"). The number of Genesis Shares to be issued hereunder is valued by the parties at $.10 per share. 2. At the earlier of (a) the expiration of three (3) years from the data of this Agreement or (b) at the time that National has sold all of the Genesis Shares, if the gross sales proceeds realized by National from the sale of the Genesis Shares is less than $ 2,000,000.00, Genesis shall issue to National such additional shares of Genesis common stock ("Additional Genesis Shares") in an amount based on the closing bid price as quoted on the OTC Bulletin Board on the day before the date of such additional share issuance so as to make up the difference between said gross sales proceeds and $2,000.00.00. Notwithstanding anything to the contrary in this Section 2, National shall have the obligation to sell the Genesis Shares in arm's length market transactions on the OTC Bulletin Board through broker-dealers at the market price of Genesis common stock prevailing from time-to-time, which transactions comply with the requirements of paragraphs (f) ("Manner of Sale") and (g) ("Brokers' Transactions") of Securities and Exchange Commission Rule 144. 3. National acknowledges that the Genesis Shares and the Additional Genesis Shares to be issued hereunder are characterized as "restricted securities" under the Securities Act of 1933 and that consequently the transferability and resale of the Genesis Shares and the Additional Genesis Shares will be limited. National understands that the certificates evidencing the Genesis Shares and the Additional Genesis Shares will hear a legend is substantially the following form: THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 ("ACT") OR ANY STATE SECURITIES LAW. THE SHARES HAVE BEEN ACQUIRED WITHOUT A VIEW TO DISTRIBUTION AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SHARES UNDER THE ACT AND UNDER APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED AS TO SUCH SALE, OFFER, TRANSFER, PLEDGE OR HYPOTHECATION. 4. This Agreement constitutes the entire agreement and understanding between the parties with respect to its subject matter. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date fast above written. GENESIS CAPITAL CORPORATION OF NEVADA By:/s/Richard Astrom ---------------------------------- Name: Richard Astrom -------------------------------- Title: President ------------------------------- NATIONAL RESIDENTIAL PROPERTIES, INC. By:/s/Richard Astrom ---------------------------------- Name: Richard Astrom -------------------------------- Title: President ------------------------------- AGREEMENT THIS AGREEMENT ("Agreement") made and entered this 30th day of October 2001, by and between SENIOR ADULT LIFESTYLE,1NC., a Nevada corporation having an office in the State of Florida ("Lifestyle") and NATIONAL RESIDENTIAL PROPERTIES, INC., a Nevada corporation having an office is the State of Florida ("NRFS"), WITNESSETH: WHEREAS, by agreement dated May 4, 2401 ("Agreement"), a copy of which is attached. hereto and labeled Schedule A, Connecticut Acquisition Core. No. 1 ("Connecticut Acquisition") entered into an agreement with various entities in which a parcel of and in Hebron, Connecticut was to be transferred to Connecticut Acquisition; and WHEREAS, certain contracts to purchase land ("Land Contracts") were to be assigned to Connecticut Acquisition; and WHEREAS, Connecticut Acquisition has merged into NRES; and WHEREAS, the Land Contracts to be assigned are set forth in the Agreement; and WHEREAS, the Land Contracts were assigned to Connecticut Acquisition (now NRES3; and WHEREAS, NRES desires to assign its rights and responsibilities under the Agreement and its rights in and to the Land Contracts to Lifestyle; and WHEREAS, Lifestyle agrees to accept the assignments. NOW, THEREFORE, in consideration of the mutual covenants contained herein, it is agreed as follows: 1. Lifestyle agrees to assume all obligations of Connecticut Acquisition (now NRES) under the Agreement, and therefore, Senior Adult shall be liable to all parties to the Agreement as if Senior Adult was an original obligor of the Agreement. 2. NRES hereby assigns to Senior Adult all of its rights under the Agreement and hereby assigns to Senior Adult all of the Land Contracts which were previously assigned to Connecticut Acquisition. 3. Senior Adult represents to NRES that the officers of Senior Adult are the same as the officers of NRES, which is a requirement for the assignment of the Land Contracts without the need to receive consent from any other parties to the land Contracts. 1 4. Senior Adult acknowledges that any other patty to the Agreement shall have the right to enforce the Agreement against Senior Adult to the same extent as the Agreement weld have been forced against Connecticut Acquisition as originally written. IN WITNESS WHEREOF, the patties have hereunto set their hands and seals as of the day and year first above written. Signed, sealed and delivered in the presence of: CONNECTICUT ACQUISITION CORP. NO. 1, INC /s/Miriam Padilla BY:/s/Richard Astrom - ------------------------------------ ------------------------------------ Miriam Padilla Richard Astrom, president /s/Patrica Gutierrez - ------------------------------------ Patrica Gutierrez SENIOR ADULT LIFESTYLE, INC. /s/Miriam Padilla BY:/s/Richard Astrom - ------------------------------------ ------------------------------------ Miriam Padilla Richard Astrom, president /s/Patrica Gutierrez - ------------------------------------ Patrica Gutierrez CONSENT The undersigned hereby consent to the Agreement and to the assignment and transfer set forth therein to Senior Adult Lifestyles, Inc. LOVELAND HILLS, LLC /s/ Leonard Jacobs BY: Nathan Kahn - ------------------------------------ ------------------------------------ - ------------------------------------ CONNECTICUT ADULT CONDOMINIUMS, LLC /s/ Leonard Jacobs BY: Nathan Kahn - ------------------------------------ ------------------------------------ - ------------------------------------ 2 ECHO LAKE, WATERTOWN, LLC /s/ Leonard Jacobs BY: /s/ Nathan Kahn - ------------------------------------ ------------------------------------ - ------------------------------------ CARLSON FARMS, NEW MILFORD, LLC /s/ Leonard Jacobs BY: /s/ Nathan Kahn - ------------------------------------ ------------------------------------ - ------------------------------------ COLEMAN FARMS, EAST WINDSOR, LLC /s/ Leonard Jacobs BY: /s/ Nathan Kahn - ------------------------------------ ------------------------------------ - ------------------------------------ 3 STATUTORY FORM WARRANTY DEED IT, NATIONAL RESIDENTIAL PROPERTIES, INC. a Nevada corporation with an office in the State of Florida CONSIDERATION PAID grants to SENIOR ADULT LIFESTYLE, INC., a Nevada corporation having an office in the State of Connecticut, with WARRANTY COVENANTS that certain piece or parcel of land on Loveland Hills Road in the Town of Hebron, County of Tolland and State of Connecticut, being more particularly described on Schedule A attached hereto and made a part hereof. The Premises are conveyed subject to two mortgages which the Grantee herein assumes and agrees to pay. The Premises are subject to taxes due to the Town of Hebron on the List of October 1, 2001, and Connecticut Acquisition Corp. No. 1, Inc. herein assumes and agrees to pay as part consideration for this conveyance. Dated this 30 day of October, 2001. ---- Witnesses: National Properties, Inc. /s/Miriam Padella By: /s/Richard Astrom - ------------------------------------ ------------------------------------ Miriam Padella Richard Astrom, Its President /s/Ben Kaplan - ------------------------------------ Ben Kaplan STATE OF FLORIDA ) SS. October 30, 2001 COUNTY OF DADE MIAMI ) Personally appeared Richard Astrom as aforesaid, signer and sealer of the foregoing instrument and acknowledged the same to be his free act and deed of said corporation, before me. Patricia Gutierrez ------------------------ Patricia Gutierrez Notary Public, State of Florida My Comm. Exp. Dec. 19, 2003 Comm. No. CC 898915 SCHEDULE A A certain piece or parcel of land with all improvements thereon and appurtenances thereto, situated on the westerly side of Loveland Road in the Town of Hebron. County of Tolland and State of Connecticut, and being shown and designated as "AREA 44.08 acres" on a certain map or plan entitled "Boundary Survey Property of ROBERT TUPPER Loveland Road Hebron, Conn. Scale 1" = 100' Aug. 31, 1972 Class A-2 Map Certified Substantially Correct Frederick M. Hayes L.S. Conn. Lic. No. 8164 Frederick M. Hayes Assoc. Route 66 Marlborough, Connecticut, which map is on file in the Town Clerk's Office in the Town of Hebron to which reference may be had. Said premises are further bounded and described as follows: Commencing at a point in the westerly street line of Loveland Road, which point marks the southeasterly comer of land now or formerly of Leno & Phylis Petrolito and the northeasterly coma of subject premises. Thence proceeding S 16(degree) 44' 3T" E along Loveland Road a distance of 138.52 feet to a point marked by a fence post; Thence proceeding S 10(degree) 31' 49" E along Loveland Road a distance of 50.85 feet to a point; Thence proceeding S 02(degree)55' 57" E along Loveland Road a distance of 477.29 feet to a point; Thence proceeding S 20(degree) 23' 26" W along Lowland Road a distance of 28.23 feet to a point; Thence proceeding S 01(degree) 14' 51" E along Loveland Road a distance of 519.91 feet to a point which point marks the northeasterly corner of land now or formerly of Lucius Robinson Sr. and the southeasterly corner of subject premises; Thence proceeding N 85(degree) 13' 10" W along said land now or formerly of Robinson a distance of 973.28 feet to a point marked by a fence post; Thence proceeding N 89(degree)39' 42" W a distance of 350.44 feet to a point; Thence proceeding N 02(degree)90' 54" E along land now or formerly of Jones-Keefe Post 95 Inc. American Legion a distance of 251.18 feet to a point; Thence proceeding N 87(degree) 19' 06" W along said land now or formerly of Jones-Keefe Post 95 Inc. American Legion a distance of 427.98 feet to a point which point marks the southwesterly corner of subject premises; Thence proceeding N 02(degree) 08' 27" E along land now or formerly of Stephen Griffing a distance of 954.03 Feet to a point, which point marks the northeasterly corner of said land now or formerly of Griffing and the northwesterly corner of said premises. Thence proceeding S 87(degree)10' 18" E along land now or formerly of Bolton Associates a distance of 679.16 feet to a point; Thence proceeding S 77(degree)08' 43" E along said land now or formerly of Bolton Associates a distance of 64.84 feet to a point; Thence proceeding S 84(degree)55' 12" E along said land now or formerly of Bolton Associates a distance of 261.60 feet to a point; Thence proceeding 6 N 89(degree) 24' 14" E along said land now or formerly of Leno & Phylis Petrolito a distance of 140.65 feet to a point; Thence proceeding S 86(degree) 10' 10" E along said land now or formerly of Leno & Phylis Petrolito a distance of 483.25 feet to the point or place of beginning. Said premises contain 44.08 acres by estimation. -----END PRIVACY-ENHANCED MESSAGE-----