0001557240-14-000410.txt : 20140728 0001557240-14-000410.hdr.sgml : 20140728 20140728113943 ACCESSION NUMBER: 0001557240-14-000410 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 19 CONFORMED PERIOD OF REPORT: 20140331 FILED AS OF DATE: 20140728 DATE AS OF CHANGE: 20140728 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INFINITY REAL ESTATE HOLDINGS Corp CENTRAL INDEX KEY: 0001534628 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 453743339 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-54548 FILM NUMBER: 14996005 BUSINESS ADDRESS: STREET 1: 951 MARINER?S ISLAND BLVD. SUITE 300 CITY: SAN MATEO STATE: CA ZIP: 94404 BUSINESS PHONE: (650) 283-2653 MAIL ADDRESS: STREET 1: 951 MARINER?S ISLAND BLVD. SUITE 300 CITY: SAN MATEO STATE: CA ZIP: 94404 FORMER COMPANY: FORMER CONFORMED NAME: Accelerated Acquisition XVI, Inc. DATE OF NAME CHANGE: 20111109 10-Q 1 infinity-2014mar31_10q.htm FORM 10-Q
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q
(Mark One)
 
 
 
þ
 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2014
OR
 
 
 
o
 
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

Commission File Number 000-54548
 
INFINITY REAL ESTATE HOLDINGS CORPORATION
(Exact name of registrant as specified in its charter)

 
Delaware
 
45-3743339
(State or other jurisdiction of
 
(I.R.S. Employer
incorporation or organization)
 
Identification No.)

951 Mariner's Island Blvd, Suite 300, San Mateo, CA 94404
 (Address of principal executive offices)

(650) 283-2653
(Registrant's telephone number, including area code)
 
 Securities registered under Section 12(b) of the Exchange Act:

None.
 
Securities registered under Section 12(g) of the Exchange Act:

Common Stock, $0.0001 par value per share
 (Title of Class)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes þ No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes þ No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, non-accelerated filer or a smaller reporting company. See definition of "accelerated filer", "large accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act):
 
 
 
 
 
 
 
Large Accelerated Filer o
 
Accelerated Filer o
 
Non-Accelerated Filer o
 
Smaller Reporting Company þ
 
 
 
 
 
 
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes þ No o

Indicate the number of shares outstanding of each of the issuer's classes of the common stock, as of the latest practicable date: Common Stock, $0.0001 par value: 52,800,000 shares outstanding as of May 14, 2014.




 
INFINITY REAL ESTATE HOLDINGS CORPORATION
 
 
Table of Contents
 
 
 
Page(s)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2

PART 1 - FINANCIAL INFORMATION
 
ITEM 1 - FINANCIAL STATEMENTS
 
INFINITY REAL ESTATE HOLDINGS CORPORATION
 (A Development Stage Company)
CONDENSED BALANCE SHEETS
(Unaudited)
 
 
 
March 31,
   
September 30,
 
 
 
2014
   
2013
 
 
 
(unaudited)
   
(audited)
 
CURRENT ASSETS:
 
   
 
Cash
 
$
-
   
$
-
 
 
               
TOTAL ASSETS
   
-
     
-
 
 
               
LIABILITIES AND STOCKHOLDERS' DEFICIT:
               
CURRENT LIABILITIES:
               
Accrued expenses
 
$
1,250
   
$
-
 
TOTAL LIABILITIES
   
1,250
     
-
 
 
               
STOCKHOLDERS' DEFICIT:
               
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; none issued or outstanding
   
-
     
-
 
Common stock, $0.0001 par value; 200,000,000 shares authorized; 52,800,000 and 26,350,000 shares issued and outstanding as of March 31, 2014 and September 30, 2013
   
5,280
     
2,635
 
Additional paid-in capital
   
6,478
     
9,113
 
Deficit accumulated during the development stage
 
$
(13,008
)
 
$
(11,748
)
TOTAL STOCKHOLDERS' DEFICIT
   
(1,250
)
    -  
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT
   
-
     
-
 
 
 
The accompanying notes are an integral part of these unaudited condensed financial statements.

3

INFINITY REAL ESTATE HOLDINGS CORPORATION
 (A Development Stage Company)
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)


 
 
Three months ended March, 31
   
Six months ended March 31
   
Inception
(October 21,
2011) through
March 31, 2014
 
 
 
(Unaudited)
   
   
(Unaudited)
   
   
(Cumulative)
 
 
 
2014
   
2013
   
2014
   
2013
   
(Unaudited)
 
 
 
   
   
   
   
 
Revenues 
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
                                       
Operating expenses
                                       
 
                                       
General and administrative
   
1,260
     
40
     
1,260
     
6,644
     
13,008
 
 
                                       
Operating loss  
   
1,260
     
40
     
1,260
     
6,644
     
13,008
 
 
                                       
Net loss 
 
$
(1,260
)
 
$
(40
)
 
$
(1,260
)
 
$
(6,644
)
   $ (13,008
)
 
                                       
Basic and diluted net loss per share 
 
$
(0.00
)
 
$
(0.00
)
 
$
(0.00
)
 
$
(0.00
)
       
 
                                       
Shares used in basic and diluted net loss per share calculation 
   
52,800,000
     
26,350,000
     
52,800,000
     
26,350,000
         
 
                                       

The accompanying notes are an integral part of these unaudited condensed financial statements.

4

 
 
INFINITY REAL ESTATE HOLDINGS CORPORATION
 (A Development Stage Company)
CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)

 
 
 
Six Months Ended
March 31
   
Inception
(October 21,
2011) through
March 31,
2014
 
 
 
2014
   
2013
   
(Cumulative)
 
OPERATING ACTIVITIES:
 
   
   
 
Net loss
 
$
(1,260
)
 
$
(6,644
)
 
$
(13,008
)
Adjustments to reconcile net loss to net cash used in operating activities:
                       
Stock-based compensation
   
10
     
-
     
10
 
Changes in operating assets and liabilities:
                       
Accrued expenses
   
1,250
     
-
     
1,250
 
Net cash used in operating activities
   
-
     
(6,644
)
   
(11,748
)
 
                       
FINANCING ACTIVITIES:
                       
Proceeds from the issuance of common stock
   
-
     
-
     
4,335
 
Shareholder advances
   
-
     
6,548
     
7,413
 
Change in bank overdraft
   
-
     
40
     
-
 
Net cash provided by financing activities
   
-
     
6,588
     
11,748
 
 
                       
Net increase (decrease) in cash
   
-
     
(56
)
   
-
 
Cash at beginning of period
   
-
     
56
     
-
 
 
                       
Cash at end of period
 
$
-
   
$
-
   
$
-
 
 

The accompanying notes are an integral part of these unaudited condensed financial statements.
 
 
 
5

 
INFINITY REAL ESTATE HOLDINGS CORPORATION
(A Development Stage Company)
Notes to Unaudited Condensed Financial Statements
NOTE 1
-
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
 
(a)
Organization and Business:

Infinity Real Estate Holdings Corporation (formally known as Accelerated Acquisitions XVI, Inc.) (the "Company") was incorporated in the state of Delaware on October 21, 2011 for the purpose of raising capital that is intended to be used in connection with its business plan which may include a possible merger, acquisition or other business combination with an operating business.
 
On July 23, 2012, Sole Comfort Shoes, Inc. ("Purchaser") agreed to acquire 23,350,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. At the same time, Accelerated Venture Partners, LLC agreed to tender 3,500,000 of their 5,000,000 shares of the Company's common stock par value $0.0001 for cancellation. Following these transactions, Sole Comfort Shoes, Inc. owned approximately 94% of the Company's 24,850,000 issued and outstanding shares of common stock par value $0.0001 and the interest of Accelerated Venture Partners, LLC was reduced to approximately 6% of the total issued and outstanding shares. Simultaneously with the share purchase, Timothy Neher resigned from the Company's Board of Directors and Onkar Dhaliwal was simultaneously appointed to the Company's Board of Directors. Such action represents a change of control of the Company. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares.

On September 3, 2013, pursuant to Article V, Section 5.3 of the Company's by-laws the Board of Directors authorized Sole Comfort Shoes, Inc. the Company's majority stockholder to transfer 23,350,000 shares (100% of its holdings) of the Company's common stock having a ($0.0001) par value to Infinity Financial Group, Inc.  Following the transaction, Infinity Financial Group, Inc. owns approximately 88.61% of the Company's 26,350,000 issued and outstanding shares of common stock have a ($0.0001) par value Simultaneously with the share transfer, Onkar Dhaliwal resigned as the Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer and David Lavoie was simultaneously appointed to be Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer.  Such action represents a change of control of the Company. Concurrent with the transfer of the shares, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to "Infinity Real Estate Holdings Corporation".

On September 3, 2013, a meeting of the shareholders holding a majority of voting shares consented in writing in lieu of a shareholder meeting as provided for under Article I, Section 1.1 of the By-laws, and approved the amendment of its articles of incorporation authorizing the name of the Corporation to be changed from "Accelerated Acquisition XVI, Inc." to "Infinity Real Estate Corporation" and further approved the increase of authorized common stock to 200,000,000 shares having a ($0.0001) par value and 10,000,000 shares of preferred stock having a ($0.0001) par value, and further approved an amendment setting forth the name and address of the appointed director of the corporation to David Lavoie. The amendment was duly adopted in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.

 On March 1, 2014, Infinity Real Estate Holdings Corporation, entered into a five year Executive Employment Agreement with its Chief Executive Officer David Lavoie. Pursuant to the agreement, Mr. Lavoie shall be responsible for performing the duties and responsibilities of Chief Executive Officer.  The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $240,000.00 USD. The Executive's salary shall be reviewed annually by the Board of Directors of the Company.  The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.
 
 
6

INFINITY REAL ESTATE HOLDINGS CORPORATION
(A Development Stage Company)
Notes to Unaudited Condensed Financial Statements

On March 1, 2014, Infinity Real Estate Holdings Corporation, entered into a five year Executive Employment Agreement with its President Frederick E. Apple, Jr. Pursuant to the agreement, Mr. Apple shall be responsible for performing the duties and responsibilities of President.  The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $180,000.00 USD. The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.

On March 1, 2014, Infinity Real Estate Holdings Corporation, entered into a five year Executive Employment Agreement with its Chief Operations Officer Thomas Howell. Pursuant to the agreement, Mr. Howell shall be responsible for performing the duties and responsibilities of Chief Operations Officer.  The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $180,000.00 USD. The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.

On March 4, 2014 Rising Tide Holdings, LLC ("Purchaser") agreed to acquire 23,350,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. Following this transaction, Rising Tide Holdings, LLC owned approximately 44.30% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001. Simultaneously with the share purchase, David Lavoie resigned as the Company's President and Frederick E. Apple, Jr. was simultaneously appointed as President and to the Company's Board of Directors, furthermore, Thomas Howell was simultaneously appointed as Chief Operations Officer and to the Company's Board of Directors. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares.

Prior to the purchase of the shares, the Purchaser was not affiliated with the Company. However, the Purchaser will be deemed an affiliate of the Company after the share purchase as a result of their stock ownership interest in the Company. The purchase of the shares by the Purchaser was completed pursuant to written Subscription Agreements with the Company.  The purchase was not subject to any other terms and conditions other than the sale of the shares in exchange for the cash payment.

On March 4, 2014 Accelerated Venture Partners, LLC. an affiliate of the Company agreed to acquire 3,000,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. The Company was granted a repurchase option for 1,500,000 of the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the Consulting Services Agreement entered into Accelerated Venture Partners, LLC on July 23, 2012. Following these transactions and current holdings, Accelerated Venture Partners, LLC owned approximately 11.38% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001.

On March 13, 2014, Infinity Real Estate Holdings Corporation, entered into a five year Executive Employment Agreement with Trevor Erridge. Pursuant to the agreement, Mr. Erridge shall be responsible for performing the duties and responsibilities of Chief Financial Officer, Principal Accounting Officer and Treasurer.  The Executive
 
 
 
7

INFINITY REAL ESTATE HOLDINGS CORPORATION
(A Development Stage Company)
Notes to Unaudited Condensed Financial Statements

agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $240,000.00 USD and was granted 100,000 shares of common stock at a price of .0001per share, the shares are restricted from resale for twelve months. The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.

The Company is currently in the development stage. All activities of the Company to date relate to its organization, initial funding and share issuances.
 
(b)
Basis of Presentation – Development Stage and Going Concern

The Company has not earned any revenue from operations since inception. Accordingly, the Company's activities have been accounted for as those of a "Development Stage Enterprise" as set forth in ASC 915, "Development Stage Entities." Among the disclosures required by ASC 915, are that the Company's financial statements be identified as those of a development stage company, and that the statements of operations, stockholders' equity and cash flows disclose activity since the date of the Company's inception.
 
The Company sustained operating losses and accumulated deficit of $13,008 as of March 31, 2014. The Company's continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtain additional financing, as may be required.
 
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company's ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.
                                               
The financial statements have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments) which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the audited financial statements and notes for the year ended September 30, 2013 included in our Annual Report on Form 10-K. The results of the three month period ended March 31, 2014 is not necessarily indicative of the results to be expected for the full year ending September 30, 2014.
 
 (c)
Use of Estimates:
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

 
8

INFINITY REAL ESTATE HOLDINGS CORPORATION
(A Development Stage Company)
Notes to Unaudited Condensed Financial Statements


(d)
Cash and Cash Equivalents
           
For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.  The Company had no cash equivalent at March 31, 2014 and no cash at March 31, 2013.

(e)
Loss per Common Share
 
Basic loss per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period.  The Company has incurred a loss during the current period, therefore any potentially dilutive shares are excluded, as they would be anti-dilutive. The Company does not have any potentially dilutive instruments for this reporting period.
 
(f)
Fair Value of Financial Instruments
 
The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 820-10, (formerly SFAS No.157), "Fair Value Measurements and Disclosures" for financial assets and liabilities. FASB ASC 820-10 provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements. FASB ASC 820-10 defines fair value as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. FASB ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available.
 
-  
Level 1:  Quoted prices in active markets for identical assets or liabilities.
-  
Level 2:  Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities.
-  
Level 3:  Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
 
The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments.

(g)
Recent Accounting Pronouncements
 
Adopted
 
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive (ASU 2013-02). This guidance is the culmination of the FASB's deliberation on reporting reclassification adjustments from accumulated other comprehensive income (AOCI). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income. However, the amendments require disclosure of amounts reclassified out of AOCI in its entirety, by component, on the face of the statement of operations or in the notes thereto. Amounts that are not required to be reclassified in their entirety to net income must be cross-referenced to other disclosures that provide additional detail. The adoption of this update did not have a material impact on the financial statements.
 


9

 
INFINITY REAL ESTATE HOLDINGS CORPORATION
(A Development Stage Company)
Notes to Unaudited Condensed Financial Statements
Not Adopted
 
In April 2013, the FASB issued ASU No. 2013-07, Presentation of Financial Statements (Top 205): Liquidation Basis of Accounting. The objective of ASU No. 2013-07 is to clarify when an entity should apply the liquidation basis of accounting and to provide principles for the measurement of assets and liabilities under the liquidation basis of accounting, as well as any required disclosures. The amendments in this standard is effective prospectively for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein. We are evaluating the effect, if any, adoption of ASU No. 2013-07 will have on our financial statements
 
In December 2011, the FASB issued ASU No. 2011-11: Balance Sheet (topic 210):  Disclosures about Offsetting Assets and Liabilities, which requires new disclosure requirements mandating that entities disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions subject to an agreement similar to a master netting arrangement.  In addition, the standard requires disclosure of collateral received and posted in connection with master netting agreements or similar arrangements.  This ASU is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods.  Entities should provide the disclosures required retrospectively for all comparative periods presented.  We are currently evaluating the impact of adopting ASU 2011-11 on the financial statements.
 
Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the United States Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future financial statements.

 NOTE 2
 -
 RELATED PARTY TRANSACTIONS
 
On October 21, 2011(inception) the Registrant sold 5,000,000 shares of Common Stock to Accelerated Venture Partners, LLC for an aggregate investment of $2,000.00.  The Registrant sold these shares of Common Stock under the exemption from registration provided by Section 4(2) of the Securities Act.

On July 23, 2012, Sole Comfort Shoes, Inc. ("Purchaser") agreed to acquire 23,350,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. At the same time, Accelerated Venture Partners, LLC agreed to tender 3,500,000 of their 5,000,000 shares of the Company's common stock par value $0.0001 for cancellation. Following these transactions, Sole Comfort Shoes, Inc. owned approximately 94% of the Company's 24,850,000 issued and outstanding shares of common stock par value $0.0001 and the interest of Accelerated Venture Partners, LLC was reduced to approximately 6% of the total issued and outstanding shares. Simultaneously with the share purchase, Timothy Neher resigned from the Company's Board of Directors and Onkar Dhaliwal was simultaneously appointed to the Company's Board of Directors. Such action represents a change of control of the Company. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares.

Prior to the purchase of the shares, the Purchaser was not affiliated with the Company. However, the Purchaser will be deemed an affiliate of the Company after the share purchase as a result of their stock ownership interest in the Company. The purchase of the shares by the Purchaser was completed pursuant to written Subscription Agreements with the Company. The purchase was not subject to any other terms and conditions other than the sale of the shares in exchange for the cash payment. Concurrent with the sale of the shares, the Company will file a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to "Sole Comfort Shoes, Inc.".

10

 
INFINITY REAL ESTATE HOLDINGS CORPORATION
(A Development Stage Company)
Notes to Unaudited Condensed Financial Statements

 On July 23, 2012, the Company entered into a Consulting Services Agreement with AVP. The agreement requires AVP to provide the Company with certain advisory services that include reviewing the Company's business plan, identifying and introducing prospective financial and business partners, and providing general business advice regarding the Company's operations and business strategy in consideration of (a) an option granted by the Company to AVP to purchase 1,500,000 shares of the Company's common stock at a price of $0.0001 per share (the "AVP Option") (which was immediately exercised by the holder) subject to a repurchase option granted to the Company to repurchase the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the agreement subject to the following milestones:
 
Milestone 1 – Company's right of repurchase will lapse with respect to 60% of the shares upon securing $5 million in available cash from funding;
 
Milestone 2 – Company's right of repurchase will lapse with respect to 40% of the Shares upon securing $10 million in available cash (inclusive of any amounts attributable to Milestone 1);
 
and (b) cash compensation at a rate of $33,333 per month. The payment of the cash compensation is subject to the Company's achievement of certain designated milestones, specifically, cash compensation of $400,000 is due consultant upon the achievement of Milestone 1, and an additional $400,000 is due upon the achievement of Milestone 2. Upon achieving each Milestone, the cash compensation is to be paid to consultant in the amount then due at the rate of $66,667 per month. The total cash compensation to be received by the consultant is not to exceed $800,000 unless the Company receives an amount of funding in excess of the amount specified in Milestone 2. If the Company receives equity or debt financing that is an amount less than Milestone 1, in between any of the above Milestones or greater than the above Milestones, the cash compensation earned by the Consultant under this Agreement will be prorated according to the above Milestones. The Company also has the option to make a lump sum payment to AVP in lieu of the monthly cash payments.
 
 On September 3, 2013, pursuant to Article V, Section 5.3 of the Company's by-laws the Board of Directors authorized Sole Comfort Shoes, Inc. the Company's majority stockholder to transfer 23,350,000 shares (100% of its holdings) of the Company's common stock having a ($0.0001) par value to Infinity Financial Group, Inc.  Following the transaction, Infinity Financial Group, Inc. owns approximately 88.61% of the Company's 26,350,000 issued and outstanding shares of common stock have a ($0.0001) par value Simultaneously with the share transfer, Onkar Dhaliwal resigned as the Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer and David Lavoie was simultaneously appointed to be Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer.  Such action represents a change of control of the Company. Concurrent with the transfer of the shares, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to "Infinity Real Estate Holdings Corporation".

On September 3, 2013, a meeting of the shareholders holding a majority of voting shares consented in writing in lieu of a shareholder meeting as provided for under Article I, Section 1.1 of the By-laws, and approved the amendment of its articles of incorporation authorizing the name of the Corporation to be changed from "Accelerated Acquisition XVI, Inc." to "Infinity Real Estate Corporation" and further approved the increase of authorized common stock to 200,000,000 shares having a ($0.0001) par value and 10,000,000 shares of preferred stock having a ($0.0001) par value, and further approved an amendment setting forth the name and address of the appointed director of the corporation to David Lavoie. The amendment was duly adopted in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.

 On March 1, 2014, Infinity Real Estate Holdings Corporation entered into a five year Executive Employment Agreement with its Chief Executive Officer David Lavoie the president and CEO of Infinity Financial Group, Inc., a shareholder of the Company. Pursuant to the agreement, Mr. Lavoie shall be responsible for performing the duties and responsibilities of Chief Executive Officer.  The Executive agrees that the Executive's position title,
 
 
11

INFINITY REAL ESTATE HOLDINGS CORPORATION
(A Development Stage Company)
Notes to Unaudited Condensed Financial Statements

assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $240,000.00 USD. The Executive's salary shall be reviewed annually by the Board of Directors of the Company.  The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.

On March 4, 2014 Accelerated Venture Partners, LLC. an affiliate of the Company agreed to acquire 3,000,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. The Company was granted a repurchase option for 1,500,000 of the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the Consulting Services Agreement entered into Accelerated Venture Partners, LLC on July 23, 2012. Following these transactions and current holdings, Accelerated Venture Partners, LLC owned approximately 11.38% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001.

The officers and directors of the Company are involved in other business activities and may, in the future, become involved in additional business opportunities that become available.  A conflict may arise in selecting between the Company and other business interests. The Company has not formulated a policy for the resolution of such conflicts.
 
 We depend on our officers and directors, to provide the Company with the necessary funds to implement our business plan, as necessary.  The Company does not have a funding commitment or any written agreement for our future required cash needs.
 
The Company does not own or lease property or lease office space. The office space used by the Company was arranged by our officers and directors of the Company to use at no charge.
 
The above amount is not necessarily indicative of the amount that would have been incurred had a comparable transaction been entered into with independent parties.

Accelerated Venture Partners, LLC, the only shareholder of the Company, paid $6,596 operating expenses on behalf of the Company and re-invoice the full amount of expenses to the Company for the year ended September 30, 2013.

 Accelerated Venture Partners, LLC, advances $6,588 to the Company and forgive the full amount during the year ended September 30, 2013.
 
 
NOTE 3
-
COMMON STOCK
 
The Company is currently issuing only one class of common stock, and this has been issued at two different prices since inception. The Company is authorized to issue 200,000,000 shares of common stock. As of September 30, 2013, 26,350,000 shares of common stock were issued and outstanding. 
 
On October 21, 2011 (inception date), the company issued 5,000,000 shares for cash of $2,000 to the founder of the Company.
 
On July 23, 2012, Sole Comfort Shoes, Inc. ("Purchaser") agreed to acquire 23,350,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. At the same time, Accelerated Venture Partners,

12

INFINITY REAL ESTATE HOLDINGS CORPORATION
(A Development Stage Company)
Notes to Unaudited Condensed Financial Statements

LLC agreed to tender 3,500,000 of their 5,000,000 shares of the Company's common stock par value $0.0001 for cancellation. Following these transactions, Sole Comfort Shoes, Inc. owned approximately 94% of the Company's 24,850,000 issued and outstanding shares of common stock par value $0.0001 and the interest of Accelerated Venture Partners, LLC was reduced to approximately 6% of the total issued and outstanding shares. Simultaneously with the share purchase, Timothy Neher resigned from the Company's Board of Directors and Onkar Dhaliwal was simultaneously appointed to the Company's Board of Directors. Such action represents a change of control of the Company. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares.
 
Prior to the purchase of the shares, the Purchaser was not affiliated with the Company. However, the Purchaser will be deemed an affiliate of the Company after the share purchase as a result of their stock ownership interest in the Company. The purchase of the shares by the Purchaser was completed pursuant to written Subscription Agreements with the Company. The purchase was not subject to any other terms and conditions other than the sale of the shares in exchange for the cash payment. Concurrent with the sale of the shares, the Company will file a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to "Sole Comfort Shoes, Inc.".
 
On July 23, 2012, the Company entered into a Consulting Services Agreement with AVP. The agreement requires AVP to provide the Company with certain advisory services that include reviewing the Company's business plan, identifying and introducing prospective financial and business partners, and providing general business advice regarding the Company's operations and business strategy in consideration of (a) an option granted by the Company to AVP to purchase 1,500,000 shares of the Company's common stock at a price of $0.0001 per share (the "AVP Option") (which was immediately exercised by the holder) subject to a repurchase option granted to the Company to repurchase the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the agreement subject to the following milestones:

Milestone 1 – Company's right of repurchase will lapse with respect to 60% of the shares upon securing $5 million in available cash from funding;
 
Milestone 2 – Company's right of repurchase will lapse with respect to 40% of the Shares upon securing $10 million in available cash (inclusive of any amounts attributable to Milestone 1);
 
 
 
 On September 3, 2013, pursuant to Article V, Section 5.3 of the Company's by-laws the Board of Directors authorized Sole Comfort Shoes, Inc. the Company's majority stockholder to transfer 23,350,000 shares (100% of its holdings) of the Company's common stock having a ($0.0001) par value to Infinity Financial Group, Inc.  Following the transaction, Infinity Financial Group, Inc. owns approximately 88.61% of the Company's 26,350,000 issued and outstanding shares of common stock have a ($0.0001) par value Simultaneously with the share transfer, Onkar Dhaliwal resigned as the Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer and David Lavoie was simultaneously appointed to be Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer.  Such action represents a change of control of the Company. Concurrent with the transfer of the shares, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to "Infinity Real Estate Holdings Corporation".
 
On September 3, 2013, a meeting of the shareholders holding a majority of voting shares consented in writing in lieu of a shareholder meeting as provided for under Article I, Section 1.1 of the By-laws, and approved the amendment of its articles of incorporation authorizing the name of the Corporation to be changed from "Accelerated Acquisition XVI, Inc." to "Infinity Real Estate Corporation" and further approved the increase of authorized common stock to

13

 
INFINITY REAL ESTATE HOLDINGS CORPORATION
(A Development Stage Company)
Notes to Unaudited Condensed Financial Statements

200,000,000 shares having a ($0.0001) par value and 10,000,000 shares of preferred stock having a ($0.0001) par value, and further approved an amendment setting forth the name and address of the appointed director of the corporation to David Lavoie c/o, 53 Cranarch Court SE Calgary, AB T3M 0S6". The amendment was duly adopted in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.

On March 4, 2014 Rising Tide Holdings, LLC ("Purchaser") agreed to acquire 23,350,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. Following this transaction, Rising Tide Holdings, LLC owned approximately 44.30% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001. Simultaneously with the share purchase, David Lavoie resigned as the Company's President and
Frederick E. Apple, Jr. was simultaneously appointed as President and to the Company's Board of Directors, furthermore, Thomas Howell was simultaneously appointed as Chief Operations Officer and to the Company's Board of Directors. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares.

Prior to the purchase of the shares, the Purchaser was not affiliated with the Company. However, the Purchaser will be deemed an affiliate of the Company after the share purchase as a result of their stock ownership interest in the Company. The purchase of the shares by the Purchaser was completed pursuant to written Subscription Agreements with the Company.  The purchase was not subject to any other terms and conditions other than the sale of the shares in exchange for the cash payment.

On March 4, 2014 Accelerated Venture Partners, LLC. an affiliate of the Company agreed to acquire 3,000,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. The Company was granted a repurchase option for 1,500,000 of the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the Consulting Services Agreement entered into Accelerated Venture Partners, LLC on July 23, 2012. Following these transactions and current holdings, Accelerated Venture Partners, LLC owned approximately 11.38% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001.

On March 13, 2014, Infinity Real Estate Holdings Corporation, entered into a five year Executive Employment Agreement with Trevor Erridge. Pursuant to the agreement, Mr. Erridge shall be responsible for performing the duties and responsibilities of Chief Financial Officer, Principal Accounting Officer and Treasurer.  The Executive
agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $240,000.00 USD and was granted 100,000 shares of common stock at a price of .0001per share, the shares are restricted from resale for twelve months. The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.

NOTE 4 - SUBSEQUENT EVENTS

On April 16, 2014, Accelerated Venture Partners elected to terminate the AVP Consulting Services Agreement entered into on July 23, 2012 with the Company. On April 28, 2014 Infinity Real Estate Holdings Corporation exercised it's right to repurchase the 5% of the Company's total "fully-diluted" capitalization which was issued to AVP representing 3,000,000 shares at $0.0001 per share totaling a repurchase price of $300.00.
14



Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

Infinity Real Estate Holdings Corporation ("we", "our", "us" or the "Company") was organized as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. Our principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings. The Company will not restrict our potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.

Results of Operations

For the three months ending March 31, 2014, the Company had no revenues and incurred general and administrative expenses of $1,260 and for the three months ended March 31, 2013 the Company had no revenues and incurred general and administrative expenses of $40.

For the six months ending March 31, 2014, the Company had no revenues and incurred general and administrative expenses of $1,260 and for the six months ended March 31, 2013 the Company had no revenues and incurred general and administrative expenses of $6,644.

For the period from inception (October 21, 2011) through March 31, 2014, the Company had no activities that produced revenues from operations and had a net loss of $(13,008), due to legal, accounting, audit and other professional service fees incurred in relation to the formation of the Company and the filing of the Company's Registration Statement on Form 10 filed in November 2011 and other SEC-related compliance matters.

Liquidity and Capital Resources

As of March 31, 2014, the Company had assets equal to $0 and had $1,250 current liabilities.

The following is a summary of the Company's cash flows from operating, investing, and financing activities:

For the Cumulative Period from Inception (October 21, 2011) through March 31, 2014

Operating activities
 
$
(11,748
)
Investing activities
   
-
 
Financing activities
 
$
11,748
 
Net effect on cash
 
$
-
 

The Company has nominal assets and has generated no revenues since inception. The Company is also dependent upon the receipt of capital investment or other financing to fund its ongoing operations and to execute its business plan of seeking a combination with a private operating company. If continued funding and capital resources are unavailable at reasonable terms, the Company may not be able to implement its plan of operations.

Plan of Operations

The Company currently does not engage in any business activities that provide cash flow. The costs of investigating and analyzing business combinations for the next 12 months and beyond such time will be paid with money in our treasury.

During the next twelve months we anticipate incurring costs related to:

 
(i)
filing of reports under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and
 
(ii)
consummating an acquisition.
 
 
15

 
 
We believe we will be able to meet these costs through use of funds in our treasury, through deferral of fees by certain service providers and additional amounts, as necessary, to be loaned to or invested in us by our sole stockholder, management or other investors.

The Company may consider a business which has recently commenced operations, is a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital, but which desires to establish a public trading market for its shares, while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur in a public offering.

Since our Registration Statement on Form 10SB became effective, our officers and sole director have had limited contact or discussions with representatives of other entities regarding a business combination with us. Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may effect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks.

The Company anticipates that the selection of a business combination will be complex and extremely risky. Because of general economic conditions, rapid technological advances being made in some industries and shortages of available capital, our management believes that there are numerous firms seeking even the limited additional capital which we will have and/or the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock. Potentially available business combinations may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.

Off-Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Item 3. Quantitative and Qaulitative Disclosures About Market Risk

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended (Exchange Act), as of December 31, 2012. Based on this evaluation, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission's
 
16

rules and forms and that our disclosure and controls are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
Changes in Internal Control Over Financial Reporting

There were no changes (including corrective actions with regard to significant deficiencies or material weaknesses) in our internal controls over financial reporting that occurred during the fiscal quarter ended March 31, 2014 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings.

To the best knowledge of the officers and directors, the Company is not a party to any legal proceeding or litigation.

Item 1A. Risk Factors.

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. (Removed and Reserved).

None.

Item 5. Other Information.

None.

17

Item 6. Exhibits.
 
Exhibit
No.
 
Description
 
 
 
31.1
 
Certification of the Company's Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2014.
 
32.1
 
Certification of the Company's Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002.
 
 10.1
Employment Agreement by and between Infinity Real Estate Holdings Corporation and Trevor Erridge
 
 10.2
Employment Agreement by and between Infinity Real Estate Holdings Corporation and Fred Apple
 
 10.3
Employment Agreement by and between Infinity Real Estate Holdings Corporation and David Lavoie
 
 10.4
Subscription Agreement with Rising Tide Holdings, LLC
 
101.DEF
 
XBRL Taxonomy Extension Definition Linkbase Document*
 
 
 
101.INS
 
XBRL Instance Document
 
 
 
101SCH
 
XBRL Taxonomy Extension Schema Document
 
 
 
101.CAL
 
XBRL Taxonomy Extension Calculation Linkbase Document
 
 
 
101.LAB
 
XBRL Taxonomy Extension Label Linkbase Document
 
 
 
101.PRE
 
XBRL Taxonomy Extension Presentation Linkbase Document

 
18

 




SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated: July 25, 2014
 
 
 
INFINITY REAL ESTATE HOLDINGS CORPORATION
 
 
 
 
By:
/s/ David Lavoie
 
David Lavoie
 
President



 
 
19
EX-31.1 2 ex-31_1.htm EX-31.1
Exhibit 31.1CERTIFICATION PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, David Lavoie, President, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Infinity Real Estate Holdings Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonable likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 
 
Dated: July 25, 2014
 
/s/ David Lavoie
 
 
 
David Lavoie
 
 
 
President
 
 
 
Financial and Accounting Officer
 
EX-32.1 3 ex-32_1.htm EX-32.1
Exhibit 32.1

CERTIFICATIONS OF PRESIDENT AND CHIEF FINANCIAL OFFICER
PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Infinity Real Estate Holdings Corporation (the "Company") for the period ended March 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the "Quarterly Report") and pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. § 1350, as adopted), David Lavoie, the Chief Executive Officer of the Company, hereby certifies that, to the best of his knowledge:

1. The Company's Quarterly Report fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition of the Company at the end of the periods covered by the Quarterly Report and the results of operations of the Company for the periods covered by the Quarterly Report.

 
 
Dated: July 25, 2014
 
/s/ David Lavoie
 
 
 
David Lavoie
 
 
 
Chief Executive Officer
 
 
 
 
 
 
 
 
 

This certification accompanies the Form 10-Q to which it relates, is not deemed filed with the SEC and is not to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, (whether made before or after the date of the Form 10-Q), irrespective of any general incorporation language contained in such filing.

 
EX-10.1 4 ex-10_1.htm EX-10.1
EXECUTIVE EMPLOYMENT AGREEMENT
THIS EXECUTIVE EMPLOYMENT AGREEMENT (this "Agreement"), dated March 3rd, 2014, (the "Effective Date") is made and entered by and between INFINITY REAL ESTATE HOLDINGS CORPORATION, a Delaware corporation (the "Company"), and DAVID (DAVE) LAVOIE (the "Executive").
WITNESSETH:
WHEREAS, the Company and the Executive have agreed to enter into this Executive Employment Agreement (this "Agreement") to establish their respective rights and obligations in regard to the employment of the Executive by the Company and their respective rights and obligations in the event of the termination of that employment;
WHEREAS, the Executive is currently employed as the Company's Chief Executive Officer and is expected to make major contributions to the short - and long-term profitability, growth and financial strength of the Company;
WHEREAS, the Company has determined that appropriate arrangements should be taken to encourage the continued attention and dedication of the Executive to his assigned duties without distraction;
WHEREAS, the parties hereby agree to abide by all future Amendments, Schedules and Exhibits to be established which may include, but are not limited to: Employee Benefits, Additional Compensation including: Profit Sharing and Bonuses, Stock Options and Stock Ownership, and other compensatory accommodations as set forth by the Company's Board of Directors for the Executive, and remaining consistent with the Company's Employment Policies and Procedures; and
WHEREAS, in consideration of the Executive's employment with the Company, the Company desires to provide the Executive with certain compensation and benefits as set forth in this Agreement in order to ameliorate the financial and career impact on the Executive in the event the Executive's employment with the Company is terminated for a reason related to, or unrelated to, a Change in Control (as defined below) of the Company.
NOW THEREFORE, in consideration of the forgoing and the mutual covenants and agreements contained hereinafter set forth and intending to be legally bound hereby, the sufficiency of which consideration is hereby acknowledged, the Company and the Executive agree as follows:
1.      Certain Defined Terms: In addition to terms defined elsewhere herein, the following terms have the following meanings when used in this Agreement with initial capital letters:
(a)
"Annual Base Salary" means the Executive' annual base salary rate, exclusive of bonuses, commissions and other incentive pay, as in effect immediately preceding Executive's Termination Date. As of the Effective Date, Executive's annual base salary is $240,000.00 USD.
 

(b)
"Board" means the Board of Directors of the Company.
(c)
"Cause"
(i)
An intentional tort (excluding any tort relating to a motor vehicle) which causes substantial loss, damage or injury to the property or reputation of the Company or its subsidiaries;
(ii)
Any serious crime or intentional, material act of fraud or dishonesty against the Company;
(iii)
The commission of a felony that results in other than immaterial harm to the Company's business or to the reputation of the Company or Executive;
(iv)
Habitual neglect of Executive's reasonable duties (for a reason other than illness or incapacity) which is not cured within ten (10) days after written notice thereof by the Board to the Executive; or
(v)
The disregard of written, material policies of the Company or its subsidiaries which causes other than immaterial loss, damage or injury to the property or reputation of the Company or its subsidiaries which is not cured within ten (10) days after written notice thereof by the Board to the Executive; or
(vi)
Any material breach of the Executive's ongoing obligation not to disclose confidential information and not to assign intellectual property developed during employment which, if capable of being cured, is not cured within ten (10) days after written notice thereof by the Board to the Executive.
(d)
"Change in Control" means:
(i)
Any person or entity becoming the beneficial owner, directly or indirectly, of securities of the Company representing Sixty (60%) percent of the total voting power of all its then outstanding voting securities;
(ii)
A merger or consolidation of the Company in which its voting securities immediately prior to the merger or consolidation do not represent, or are not converted into securities that represent, a majority of the voting power of all voting securities of the surviving entity immediately after the merger or consolidation;
(iii)
A sale of substantially all of the assets of the Company or a liquidation or dissolution of the Company;
Or
(iv)
Individuals who, as of the date of the signing of this Agreement, constitute the Board of Directors (the "Incumbent board") cease for any reason to constitute at least a majority of such Board; provided that any individual who becomes a director of the Company subsequent to the date of the signing of this Agreement, whose election, or nomination for election by the Company stockholders, was approved by the vote of 

                      at least a majority of the directors then in office shall be deemed a member of the Incumbent Board.
 
(f)
"Disability" means (i) the Executive has been incapacitated by bodily injury, illness or disease so as to be prevented thereby from engaging in the performance of the Executive's duties (provided, however, that the Company acknowledges its obligations to provide reasonable accommodation to the extent required by applicable law); (ii) such total incapacity shall have continued for a period of six (6) consecutive months; and (iii) such incapacity will, in the opinion of a qualified physician, be permanent and continuous during the remainder of the Executive's life.
(g)
"Good Reason Termination" means:
(i)
A material diminution in the Executive's base compensation or target bonus below the amount as of the date of this Agreement or as increased during the course of his employment with the Company, excluding one or more reductions (totaling no more than 10% in the aggregate) generally applicable to all senior executives provided, however, that such exclusion shall not apply if the material diminution in the Executive's base compensation occurs within (A) 60 days prior to the consummation of a Change in Control where such Change in Control was under consideration at the time of Executive's Termination Date or (B) twelve (12) months after the date upon which such a Change in Control occurs;
(ii)
A material diminution in the Executive's authority, duties or responsibilities;
(iii)
Any action or inaction that constitutes a material breach by the Company of this Agreement;
Provided, however, that for the Executive to be able to terminate his employment with the Company on account of Good Reason he must provide notice of the occurrence of the event constituting Good Reason and his desire to terminate his employment with the Company on account of such within ninety (90) days following the initial existence of the condition constituting Good Reason, and the Company must have a period of thirty (30) days following receipt of such notice to cure the condition. If the Company does not cure the event constituting Good Reason within (30) day period, the Executive's Termination date shall be the day immediately following the end of such thirty (30) day period, unless the Company provides for an earlier Termination Date.
(h)
"Target Bonus" means the target payout (i.e., at 100% achievement of each of the applicable metric(s) in effect from time to time) under the Company's Executive Annual Incentive Plan in effect for the Executive as of the Termination Date. As of the Effective Date, Executive's target bonus percentage under the Executive Annual Incentive Plan is 150% of annual base salary.
(i)
"Termination Date: means the last day of Executive's employment with the Company.

 
 
(j) 'Termination of Employment" means the termination of Executive's active employment relationship with the Company.
Executive Term/ Duration Period:
This agreement shall remain in effect for a period of FIVE YEARS (5 Years) listed within the Employment Period as the commencement date, with the exception of those items being subject to the termination provisions contained herein and outlined in (Section 8).
1.      Duties and Responsibilities: The Executive's employment with the Company shall be subject to the following:
(a)
The Executive agrees that, during the entire term of this Agreement, the Executive shall be responsible for performing the duties and responsibilities of CHIEF EXECUTIVE OFFICER. The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion.
(b)
The Executive shall perform all duties assigned to the Executive faithfully and efficiently. The Executive will have such authority and power as are inherent to the undertakings applicable to the Executive's position and necessary to carry out the Executive's responsibilities and the duties required of the Executive.
(c)
During the Executive's employment the Executive shall devote the whole of the Executive's business time, energies, talents, attention and ability to the performance of the Executive's duties and responsibilities under this Agreement and use the Executive's best efforts to promote the interests of the Company. The Executive shall not, without the prior written consent of the Company, accept employment, or engage in self- employment, or any other contract or assignment with any other individual, firm, corporation or board of directors at any time during the term of this Agreement.
(d)
The Executive agrees to abide by the policies, rules, regulations, systems and procedures that the Company may institute from time to time.
2.      Base Salary:
(a)
Subject to the terms and conditions of this Agreement, the Company shall pay the Executive an annual gross base salary of TWO HUNDRED FORTY THOUSAND DOLLARS ($240,000.00 USD). The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions.
3.      Incentive Compensation Plan: The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.

(a)
The payment of an Incentive Compensation payment in any year shall not be considered a precedent for any later year and the payment shall not fetter the absolute discretion of the Board in future years to pay or not to pay an Incentive Compensation payment.
(b)
The Company retains the right to unilaterally revise the Incentive Compensation Plan at any time, up to and including its complete discontinuance, at its sole discretion.
4.      Hours of Work: The Executive understands that the hours of work involved in the performance of the Executive's duties and responsibilities will vary and may be irregular as required to meet the objective of carrying out the Executive's professional role within management. The Salary of the Executive has been determined taking into account that the position requires that the Executive work such variable hours, including frequent travel and accordingly, the Executive shall not receive any additional compensation.
5.      Vacation: The Executive understands that vacation (hereafter "Vacation") represents any company sanctioned time-off which is accumulated by the Executive for various purposes, including: vacation, sick time and personal days. The Executive also understands that the Company reserves the right to alter and/or change the company vacation policy at their sole discretion and consistent with potential changes in their policies and procedures. The Company's vacation year runs from January 1st to December 31st of each calendar year (the "Vacation Year"). The Executive will be entitled to earn 2.5 days of vacation leave per month of service to a maximum of 30 days such vacation leave days per Vacation Year and shall be taken and administered in accordance with the Company's current vacation policy. The Executive is encouraged to take vacation during the year that it is earned. On January 1st of each year, the Executive may automatically carry over up to a maximum of ten (10) days of accrued but unused vacation into the following year. All unused vacation in excess of the carry over maximum will be forfeited. Pay is not granted in lieu of vacation time not taken. Upon termination of employment, the Executive agrees that the Company may deduct from any wages or other compensation owed to the Executive any vacation with pay that has been taken by the Executive, but which had not yet been accrued.
6.      Group Benefits: The Executive shall be entitled to participate in any of the Company's group life, health and disability benefit plans (including but not limited to the Executive Disability Insurance Plan) which may be applicable to the Executive and in effect during the period of this Agreement, under such terms and conditions as provided thereunder. The Executive's entitlement to payment of benefits under such plans will be governed by the policies put in place by the insurer(s). If, for some reason, the Executive does not qualify to participate in a plan or is ineligible to receive a given benefit for whatever reason, the Company will have no obligation to provide the Executive with replacement benefits. The Company reserves the right to change insurers, change benefit plans and to modify or cancel the benefits it makes available to the Executive from time to time.
7.      Pension:
(a) Where applicable, the Executive shall be entitled to participate in:
(i)
the Company's Pension Plan (the "Pension Plan") in accordance with the terms
 

and conditions of the Pension Plan and as such terms and conditions may be amended from time to time.
(b)
The Executive acknowledges and agrees that the Pension Plan offered by the Company may be amended at any time, up to and including its complete discontinuance, in the Company's sole discretion. The Executive agrees that any changes to the Pension Plan shall not result in a termination of this Agreement and shall not constitute constructive dismissal.
8.      Termination of Employment:
(a)
Under this Agreement, the "Date of Termination" shall mean:
(i)
if the Company terminates the Executive's employment, the date designated by the Company as the last day of the Executive's employment (without reference to and notwithstanding any applicable notice period to which the Executive may be entitled, whether under statue, common law, contract or otherwise);
(ii)
if the Executive resigns the Executive's employment with the Company, the date which is the last day of the period specified in paragraph 8(d) below, or such earlier date as the Company may require in accordance with paragraph 8(d);
(iii)
if the Executive dies, the date of death;
(iv)
if this Agreement is frustrated at law, which includes but is not limited to Incapacity as specified at paragraph 10 below, the date designated by the Company as the last day of the Executive's employment.
(b)
The Company shall be entitled to terminate this Agreement at any time and without notice or payment in lieu thereof or any other payment except for Salary up to the Date of Termination, if the conduct of the Executive is such as to constitute just cause for dismissal. The Executive and the Company agree that "just cause" shall mean:
(i)
any regulatory sanction that precludes the Executive from fulfilling the Executive's duties under this Agreement;
(ii)
any act of the Executive resulting in a criminal conviction of an offence that, in the sole opinion of the Company, is prejudicial to the reputation or business of the Company or which negatively impacts on the Executive's performance of the Executive's duties;
(iii)
any serious breach of the Company's Workplace Violence, Discrimination and Harassment policies by the Executive as defined by the policies, rules, regulations, systems and procedures of the Company as instituted from time to time;
(iv)
the commission by the Executive of any act of fraud or theft, whether or not it involves the Company;
 

(v)
any serious breach by the Executive of this Agreement (including all Schedules and attachments hereto) or the Company's written policies in effect from time to time;
(vi)
any further grounds constituting just cause under the common law.
(c)
The Company shall be entitled to terminate this Agreement and the employment of the Executive at any time without cause by providing the Executive with the following:
(i)        written notice of termination of employment, or pay in lieu of notice or any
combination thereof, and severance pay if applicable, in accordance with and limited to the requirements and laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time. The Company will also continue all group employee benefit coverage to which the Executive is ordinarily entitled under the group executive benefit plan(s), during the period of notice of termination of employment as required by the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time;
The Executive acknowledges that the provision of such amounts as set out above within this sub article 8(c) are reasonable and that they satisfy and are inclusive of all requirements of the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time and upon receipt of the Executive's entitlements in accordance with the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, and in accordance with this Agreement, no further amount shall be due and payable to the Executive, whether under statute or at common law and furthermore that this Agreement shall constitute a full defense and bar to any such action, cause of action, complaint, demand or claim that the Executive may bring against the Company in any forum. Without limiting the generality of the foregoing, the Executive understands and agrees that the Additional Notice is inclusive of and in satisfaction of any entitlements (if any) to Benefits, Pension Plan contributions and the Additional Notice will be paid by way of Salary continuation or in a lump sum, or any combination thereof, at the Company's discretion. The Executive understands and agrees that if the Executive chooses not to sign the Full and Final Release Agreement, then the Executive's only entitlement will be to notice, severance pay if applicable, and benefits continuation in accordance with the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, and those set out above at sub article 8(c)(i). All payments are subject to the usual and necessary statutory and other deductions.
(d)
The Executive may terminate this Agreement and the Executive's employment with the Company upon giving NINETY DAYS (90 days) written notice to that effect to the Company. The Company may either require the Executive to continue to perform the Executive's duties, or at its sole discretion, waive all or part of the SIXTY DAY (90 day) notice period and thus establish an earlier Date of Termination. Upon receipt of such notice of termination by the Executive, the Company shall only be required to pay the Executive's Salary, benefits and any other amounts earned and payable under any bonus or incentive plan until the actual Date of Termination.

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9.      Death:                In the event of the death of the Executive, this Agreement shall terminate
immediately and without notice or payment in lieu thereof except for Salary earned to the Date of Termination.
10.      Incapacity: Should the Executive be off work due to a physical or mental incapacity which prevents the Executive from performing the essential duties and obligations of the Executive's position for a period of 24 consecutive months, with no reasonable prospect of the Executive resuming regular performance of the essential duties and obligations of the Executive's position as determined by the Company on the basis of satisfactory medical evidence, the Executive shall be deemed to be permanently disabled ("Disabled"). The Executive agrees that as the Executive is essential to the management and efficient operation of the Company, in the event the Executive becomes Disabled, this Agreement will be deemed frustrated and the Company's obligations pursuant to the requirements of the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures as amended from time to time shall be deemed satisfied. Accordingly, in the event that the Executive is Disabled, the Company shall be entitled to terminate the Executive's employment and the Executive shall be entitled to receive only the notice and severance payments, if any, required pursuant to the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time. Nothing in this article shall be construed or interpreted as a guarantee of any term of employment.
11.      Obligations to Third Parties: The Executive covenants that the Executive is not subject to any outstanding employment agreement or restrictive covenant inconsistent with the terms of this Agreement. It is understood that the Executive has not disclosed and will not disclose to the Company any confidential information belonging to any third party in breach of any obligation of confidence, and the Executive has not induced or caused, and will not induce or cause the Company to use or disclose any confidential information to any third party.
12.      Intellectual Property and Confidential Information Agreement: The Executive will be required to execute along with this Agreement, the forthcoming Intellectual Property and Confidential Information Agreement of the Company as outlined by the Company's Policies and Procedures and set forth by the Company's Board of Directors, which forms part of this Agreement. The Executive acknowledges the ongoing nature of the obligations set out in the Intellectual Property and Confidential Information Agreement and the Executive agrees that the Executive shall abide by its provisions.
13.      Non-Solicitation:
(a) The Executive covenants and agrees with the Company that during the period of the Executive's employment under this Agreement and for a period of one (1) year after the Date of Termination, the Executive will not (without the prior written consent of the Company) directly or indirectly, either individually or in partnership or jointly or in conjunction with any person or persons, firm, association, syndicate or corporation, as employee, principal, agent, shareholder or in any other manner whatsoever, solicit the employment of or services of employees or service providers of the Company for the purposes of causing such employees or service providers to leave their employment or terminate or change their relationship with the Company or take employment or enter into a relationship with any business located in North America, including: Canada,

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Mexico, or the United States — which is engaged in, established within, or marketing within the Cleaner-Lubricant-Protectant (CLP) market, or any such industry deemed by
the Company as direct or indirect competition representing marketers or distributors of similar products and/or services provided by the Company (a "Competitive Business").
(b) The Executive covenants and agrees with the Company that during the period of the Executive's employment under this Agreement and for a period of one (1) year after the Date of Termination, the Executive will not (without the prior written consent of the Company) directly or indirectly, either individually or in partnership or jointly or in conjunction with any person or persons, firm, association, syndicate or corporation, as employee, principal, agent, shareholder or in any other manner whatsoever, solicit or attempt to solicit the business of clients of the Company or assist any other organization or individual to solicit or attempt to solicit the clients of the Company, with whom the Executive had material business contact at any time during the twelve (12) months prior to the cessation of his employment with the Company.
14.      Restrictions Reasonable: The Executive agrees that, given the Executive's senior position with the Company, the Executive is a fiduciary of the Company. In particular, the Executive acknowledges that given the Executive's significant and detailed knowledge of the Company's specialized business and confidential competitive information, the Executive has the ability to seriously harm the interests of the Company by soliciting employees, service providers or clients of the Company. Furthermore, the Executive agrees that given the specialized nature of services provided by the Company, the Company has a limited potential client base. The Executive therefore acknowledges that all covenants and restrictions in this Agreement (including, without restriction, covenants and restrictions in Article 13) are reasonable and valid and all defences to the strict enforcement thereof by the Company are hereby waived. The Executive agrees not to assert that any covenant or provision in this Agreement is void or unenforceable. If any covenant or provision herein is determined to be void or unenforceable in whole or in part, it shall not be deemed to affect or impair the validity of any other covenant or provision.
15.      Equitable Relief: The Executive acknowledges that upon any breach by the Executive of any of the terms of this Agreement or the Intellectual Property and Confidential Information Agreement, the Company shall be entitled to pursue any and all remedies available to it at law or equity, including without limiting the foregoing, injunctive relief and action for damages and other relief whether legal or equitable; and the Executive further covenants and agrees to indemnify and save the Company harmless from and against all costs and expenses including legal and other professional fees and expenses incurred by the Company in connection with or arising out of any proceeding instituted by the Company against the Executive to enforce the terms and provisions of this Agreement where the Company is successful in whole or in part in such proceeding.
16.      Survival: Articles 8, 13, 14 and 15 shall survive the termination of this Agreement and the Executive's employment with the Company. The Executive further agrees that such Articles and the operation of such Articles shall not be affected by the manner of termination of this Agreement and the Executive's employment with the Company.

17. General Matters:

(a) Notices: Any notice or communication (a "Notice") required or permitted under this Agreement shall be in writing and shall be sent by facsimile transmission or by personal delivery. The Executive may, by written Notice to the Company, change the address or facsimile number to which deliveries and transmissions shall thereafter be made. The Company shall notify the Executive of any change in the address for Notice of the Company. Until changed, the address and facsimile number of the Company and the Executive shall respectively be as follows:
To the Company:
Infinity Real Estate Holdings Corporation Suite 300,
951 Mariners Island Boulevard San Mateo, CA 94404 Contact Number: (403) 966-2169 Fax Number: (941) 296-8991
To the Executive:
David (Dave) Lavoie
South Executive Tower
Suite 120, 11012 Macleod Trail SE
Calgary, Alberta
T2J 6A5 Canada
Contact Number: (403) 966-2169
dave@infmityfgi.com
(b)
Deemed Date of Delivery: Any Notice given before 3:00 p.m. on a business day in accordance with the provisions of this Agreement shall be deemed to have been received by the party to which it was addressed on the day of personal delivery or facsimile transmission. Any Notice given after 3:00 p.m. on a business day or on a day that is not a business day shall be deemed to have been received by the party to which it was addressed on the next business day following the day of personal delivery or facsimile transmission.
(c)
Waiver of Breach: The waiver by either the Company or the Executive of a breach of any provision of this Agreement shall not operate as or be deemed a waiver of any subsequent breach by either the Company or the Executive. Continuation of payments hereunder by the Company following a breach by the Executive of any provision of this Agreement shall not preclude the Company from thereafter terminating said payments based upon the same violation.
(d)
Severability: It is mutually agreed and understood by the parties hereto that should any of the agreements and covenants contained herein be determined by any court of competent jurisdiction to be invalid by virtue of being vague or unreasonable, including

--

but not limited to the provisions of Article 14, then the parties hereto consent that this Agreement shall be amended retroactive to the date of its execution to include the terms and conditions said court deems to be reasonable and in conformity with the original intent of the parties hereto and the parties hereto consent that under such circumstances, said court shall have the power and authority to determine what is reasonable and in conformity with the original intent of the parties hereto to the extent that said covenants or agreements are enforceable. In the event that any provision herein or part thereof is deemed void, invalid, illegal or unenforceable by a court of competent jurisdiction, this Agreement shall continue in force with respect to the enforceable provisions and all rights accrued under the enforceable provisions shall survive any such declaration.
(e)
Headings: The division of this Agreement into Sections, subsections and paragraphs and the insertion of headings are for convenience of reference only and shall not affect the construction and interpretation of this Agreement.
(f)
Construction: Words importing the singular number only shall include the plural and vice versa and words importing the masculine gender shall include the feminine gender and neuter.
(g)
Further Acts: The parties hereto agree to execute and deliver such further and other documents and perform and cause to be performed such further and other acts and things as may be necessary in order to give full effect to this Agreement and every part hereof. Furthermore, the Executive agrees that, on and after the date of this Agreement, the Executive will cooperate with the Company and its affiliates in the defence of any claims (unless brought by the Executive) that may be made against the Company or its affiliates to the extent that such claims may relate to the Executive's duties or services hereunder. To the extent travel is required to comply with the requirements of this provision the Executive shall be reimbursed for all reasonable expenses incurred.
(h)
Amendment: This Agreement may be amended or cancelled only by mutual Agreement of the parties hereto in writing.
(i)
Assignment: This Agreement shall ensure to the benefit of and be binding upon the Executive and the Company and their respective heirs, administrators, executors, personal representatives, successors and permitted assigns. The Executive acknowledges that his services are unique and personal. The Executive may not assign his rights or delegate his duties or obligations under this Agreement. However, nothing herein shall otherwise affect the right of the Company to transfer the Executive and to assign this Agreement from the Company to another subsidiary or affiliate of the Company and such change shall not be considered a material change in circumstance which would invalidate the provisions of this Agreement which, in any event, shall survive such transfer. Furthermore, the Company may assign this Agreement to any entity to which the Company sells or transfers assets.
(j)
Entire Agreement: This Agreement, including all Schedules and attachments hereto, which form part of this Agreement, constitutes the sole and complete Agreement between the Company and the Executive with respect to its subject matter and supersedes all other agreements, both oral and written, between the Company and the Executive with
respect to the matters contained herein including, without limitation, any severance agreements or arrangements between the parties hereto. No verbal or other statements, inducements, or representations have been made to or relied upon by the Executive. The parties hereto have read and understand this Agreement
 

(k)
Choice of Law and Jurisdiction: This Agreement will be governed by and construed in accordance with the laws of Sarasota County, Florida, or another appropriate jurisdiction as chosen by the Company, without regard to the principles of conflicts of law, and will in all respects be treated as a contract In the event of a dispute, the parties agree that any legal proceedings will be held in a location that is mutual agreed by both parties.
(l)
Independent Legal Advice: The parties hereto acknowledge that they have been afforded an opportunity to obtain independent legal advice with respect to this Agreement and its terms, and are executing the same freely, voluntarily and without duress.
IN WITNESS WHEREOF, this Agreement has been duly executed this 3rd day of March, 2014.
SIGNED, SEALED AND DELIVERED IN THE PRESENCE OF

INFINITY REAL ESTATE HOLDINGS


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EX-10.2 5 ex-10_2.htm EX-10.2
EXECUTIVE EMPLOYMENT AGREEMENT
THIS EXECUTIVE EMPLOYMENT AGREEMENT (this "Agreement"), dated March 3rd, 2014, (the "Effective Date") is made and entered by and between INFINITY REAL ESTATE HOLDINGS CORPORATION, a Delaware corporation (the "Company"), and FREDERICK E. APPLE, Jr. (the "Executive").
WITNESSETH:
WHEREAS, the Company and the Executive have agreed to enter into this Executive Employment Agreement (this "Agreement") to establish their respective rights and obligations in regard to the employment of the Executive by the Company and their respective rights and obligations in the event of the termination of that employment;
WHEREAS, the Executive is currently employed as the Company's President and is expected to make major contributions to the short - and long-term profitability, growth and financial strength of the Company;
WHEREAS, the Company has determined that appropriate arrangements should be taken to encourage the continued attention and dedication of the Executive to his assigned duties without distraction;
WHEREAS, the parties hereby agree to abide by all future Amendments, Schedules and Exhibits to be established which may include, but are not limited to: Employee Benefits, Additional Compensation including: Profit Sharing and Bonuses, Stock Options and Stock Ownership, and other compensatory accommodations as set forth by the Company's Board of Directors for the Executive, and remaining consistent with the Company's Employment Policies and Procedures; and
WHEREAS, in consideration of the Executive's employment with the Company, the Company desires to provide the Executive with certain compensation and benefits as set forth in this Agreement in order to ameliorate the financial and career impact on the Executive in the event the Executive's employment with the Company is terminated for a reason related to, or unrelated to, a Change in Control (as defined below) of the Company.
NOW THEREFORE, in consideration of the forgoing and the mutual covenants and agreements contained hereinafter set forth and intending to be legally bound hereby, the sufficiency of which consideration is hereby acknowledged, the Company and the Executive agree as follows:
1. Certain Defined Terms: In addition to terms defined elsewhere herein, the following terms have the following meanings when used in this Agreement with initial capital letters:
(a)
"Annual Base Salary" means the Executive' annual base salary rate, exclusive of bonuses, commissions and other incentive pay, as in effect immediately preceding Executive's Termination Date. As of the Effective Date, Executive's annual base salary is $180,000.00 USD.

 

(b)
"Board" means the Board of Directors of the Company.
(c)
"Cause"
(i)
An intentional tort (excluding any tort relating to a motor vehicle) which causes substantial loss, damage or injury to the property or reputation of the Company or its subsidiaries;
(ii)
Any serious crime or intentional, material act of fraud or dishonesty against the Company;
(iii)
The commission of a felony that results in other than immaterial harm to the Company's business or to the reputation of the Company or Executive;
(iv)
Habitual neglect of Executive's reasonable duties (for a reason other than illness or incapacity) which is not cured within ten (10) days after written notice thereof by the Board to the Executive; or
(v)
The disregard of written, material policies of the Company or its subsidiaries which causes other than immaterial loss, damage or injury to the property or reputation of the Company or its subsidiaries which is not cured within ten (10) days after written notice thereof by the Board to the Executive; or
(vi)
Any material breach of the Executive's ongoing obligation not to disclose confidential information and not to assign intellectual property developed during employment which, if capable of being cured, is not cured within ten (10) days after written notice thereof by the Board to the Executive.
(d)
"Change in Control" means:
(i)
Any person or entity becoming the beneficial owner, directly or indirectly, of securities of the Company representing Sixty (60%) percent of the total voting power of all its then outstanding voting securities;
(ii)
A merger or consolidation of the Company in which its voting securities immediately prior to the merger or consolidation do not represent, or are not converted into securities that represent, a majority of the voting power of all voting securities of the surviving entity immediately after the merger or consolidation;
(iii)
A sale of substantially all of the assets of the Company or a liquidation or dissolution of the Company;
Or
(iv)
Individuals who, as of the date of the signing of this Agreement, constitute the Board of Directors (the "Incumbent board") cease for any reason to constitute at least a majority of such Board; provided that any individual who becomes a director of the Company subsequent to the date of the signing of this Agreement, whose election, or nomination for election by the Company stockholders, was approved by the vote of at least a majority of the directors then in office shall be deemed a member of the Incumbent Board.


(f)
 "Disability" means (i) the Executive has been incapacitated by bodily injury, illness or disease so as to be prevented thereby from engaging in the performance of the Executive's duties (provided, however, that the Company acknowledges its obligations to provide reasonable accommodation to the extent required by applicable law); (ii) such total incapacity shall have continued for a period of six (6) consecutive months; and (iii) such incapacity will, in the opinion of a qualified physician, be permanent and continuous during the remainder of the Executive's life.
(g)
"Good Reason Termination" means:
(i)
A material diminution in the Executive's base compensation or target bonus below the amount as of the date of this Agreement or as increased during the course of his employment with the Company, excluding one or more reductions (totaling no more than 10% in the aggregate) generally applicable to all senior executives provided, however, that such exclusion shall not apply if the material diminution in the Executive's base compensation occurs within (A) 60 days prior to the consummation of a Change in Control where such Change in Control was under consideration at the time of Executive's Termination Date or (B) twelve (12) months after the date upon which such a Change in Control occurs;
(ii)
A material diminution in the Executive's authority, duties or responsibilities;
(iii)
Any action or inaction that constitutes a material breach by the Company of this Agreement;
Provided, however, that for the Executive to be able to terminate his employment with the Company on account of Good Reason he must provide notice of the occurrence of the event constituting Good Reason and his desire to terminate his employment with the Company on account of such within ninety (90) days following the initial existence of the condition constituting Good Reason, and the Company must have a period of thirty (30) days following receipt of such notice to cure the condition. If the Company does not cure the event constituting Good Reason within (30) day period, the Executive's Termination date shall be the day immediately following the end of such thirty (30) day period, unless the Company provides for an earlier Termination Date.
(h)
"Target Bonus" means the target payout (i.e., at 100% achievement of each of the applicable metric(s) in effect from time to time) under the Company's Executive Annual Incentive Plan in effect for the Executive as of the Termination Date. As of the Effective Date, Executive's target bonus percentage under the Executive Annual Incentive Plan is 150% of annual base salary.
(i)
"Termination Date: means the last day of Executive's employment with the Company.




(j)
'Termination of Employment" means the termination of Executive's active employment relationship with the Company.
Executive Term/ Duration Period:
This agreement shall remain in effect for a period of FIVE YEARS (5 Years) listed within the Employment Period as the commencement date, with the exception of those items being subject to the termination provisions contained herein and outlined in (Section 8).
1.      Duties and Responsibilities: The Executive's employment with the Company shall be subject to the following:
(a)
The Executive agrees that, during the entire term of this Agreement, the Executive shall be responsible for performing the duties and responsibilities of PRESIDENT. The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion.
(b)
The Executive shall perform all duties assigned to the Executive faithfully and efficiently. The Executive will have such authority and power as are inherent to the undertakings applicable to the Executive's position and necessary to carry out the Executive's responsibilities and the duties required of the Executive.
(c)
During the Executive's employment the Executive shall devote the whole of the Executive's business time, energies, talents, attention and ability to the performance of the Executive's duties and responsibilities under this Agreement and use the Executive's best efforts to promote the interests of the Company. The Executive shall not, without the prior written consent of the Company, accept employment, or engage in self- employment, or any other contract or assignment with any other individual, firm, corporation or board of directors at any time during the term of this Agreement.
(d)
The Executive agrees to abide by the policies, rules, regulations, systems and procedures that the Company may institute from time to time.
2.      Base Salary:
(a)
Subject to the terms and conditions of this Agreement, the Company shall pay the Executive an annual gross base salary of ONE HUNDRED EIGHTY THOUSAND DOLLARS ($180,000.00 USD). The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions.
3.      Incentive Compensation Plan: The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.




(a)
The payment of an Incentive Compensation payment in any year shall not be considered a precedent for any later year and the payment shall not fetter the absolute discretion of the Board in future years to pay or not to pay an Incentive Compensation payment.
(b)
The Company retains the right to unilaterally revise the Incentive Compensation Plan at any time, up to and including its complete discontinuance, at its sole discretion.
4.      Hours of Work: The Executive understands that the hours of work involved in the performance of the Executive's duties and responsibilities will vary and may be irregular as required to meet the objective of carrying out the Executive's professional role within management. The Salary of the Executive has been determined taking into account that the position requires that the Executive work such variable hours, including frequent travel and accordingly, the Executive shall not receive any additional compensation.
5.      Vacation: The Executive understands that vacation (hereafter "Vacation") represents any company sanctioned time-off which is accumulated by the Executive for various purposes, including: vacation, sick time and personal days. The Executive also understands that the Company reserves the right to alter and/or change the company vacation policy at their sole discretion and consistent with potential changes in their policies and procedures. The Company's vacation year runs from January 1st to December 31st of each calendar year (the "Vacation Year"). The Executive will be entitled to earn 2.5 days of vacation leave per month of service to a maximum of 30 days such vacation leave days per Vacation Year and shall be taken and administered in accordance with the Company's current vacation policy. The Executive is encouraged to take vacation during the year that it is earned. On January 1st of each year, the Executive may automatically carry over up to a maximum of ten (10) days of accrued but unused vacation into the following year. All unused vacation in excess of the carry over maximum will be forfeited. Pay is not granted in lieu of vacation time not taken. Upon termination of employment, the Executive agrees that the Company may deduct from any wages or other compensation owed to the Executive any vacation with pay that has been taken by the Executive, but which had not yet been accrued.
6.      Group Benefits: The Executive shall be entitled to participate in any of the Company's group life, health and disability benefit plans (including but not limited to the Executive Disability Insurance Plan) which may be applicable to the Executive and in effect during the period of this Agreement, under such terms and conditions as provided thereunder. The Executive's entitlement to payment of benefits under such plans will be governed by the policies put in place by the insurer(s). If, for some reason, the Executive does not qualify to participate in a plan or is ineligible to receive a given benefit for whatever reason, the Company will have no obligation to provide the Executive with replacement benefits. The Company reserves the right to change insurers, change benefit plans and to modify or cancel the benefits it makes available to the Executive from time to time.
7.      Pension:
(a) Where applicable, the Executive shall be entitled to participate in:
(i)
the Company's Pension Plan (the "Pension Plan") in accordance with the terms
and conditions of the Pension Plan and as such terms and conditions may be amended from time to time.



(b)
The Executive acknowledges and agrees that the Pension Plan offered by the Company may be amended at any time, up to and including its complete discontinuance, in the Company's sole discretion. The Executive agrees that any changes to the Pension Plan shall not result in a termination of this Agreement and shall not constitute constructive dismissal.
8.      Termination of Employment:
(a)
Under this Agreement, the "Date of Termination" shall mean:
(i)
if the Company terminates the Executive's employment, the date designated by the Company as the last day of the Executive's employment (without reference to and notwithstanding any applicable notice period to which the Executive may be entitled, whether under statue, common law, contract or otherwise);
(ii)
if the Executive resigns the Executive's employment with the Company, the date which is the last day of the period specified in paragraph 8(d) below, or such earlier date as the Company may require in accordance with paragraph 8(d);
(iii)
if the Executive dies, the date of death;
(iv)
if this Agreement is frustrated at law, which includes but is not limited to Incapacity as specified at paragraph 10 below, the date designated by the Company as the last day of the Executive's employment.
(b)
The Company shall be entitled to terminate this Agreement at any time and without notice or payment in lieu thereof or any other payment except for Salary up to the Date of Termination, if the conduct of the Executive is such as to constitute just cause for dismissal. The Executive and the Company agree that "just cause" shall mean:
(i)
any regulatory sanction that precludes the Executive from fulfilling the Executive's duties under this Agreement;
(ii)
any act of the Executive resulting in a criminal conviction of an offence that, in the sole opinion of the Company, is prejudicial to the reputation or business of the Company or which negatively impacts on the Executive's performance of the Executive's duties;
(iii)
any serious breach of the Company's Workplace Violence, Discrimination and Harassment policies by the Executive as defined by the policies, rules, regulations, systems and procedures of the Company as instituted from time to time;
(iv)
the commission by the Executive of any act of fraud or theft, whether or not it involves the Company;



(v)
any serious breach by the Executive of this Agreement (including all Schedules and attachments hereto) or the Company's written policies in effect from time to time;
(vi)
any further grounds constituting just cause under the common law.
(c)
The Company shall be entitled to terminate this Agreement and the employment of the Executive at any time without cause by providing the Executive with the following:
(i)        written notice of termination of employment, or pay in lieu of notice or any
combination thereof, and severance pay if applicable, in accordance with and limited to the requirements and laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time. The Company will also continue all group employee benefit coverage to which the Executive is ordinarily entitled under the group executive benefit plan(s), during the period of notice of termination of employment as required by the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time;
The Executive acknowledges that the provision of such amounts as set out above within this sub article 8(c) are reasonable and that they satisfy and are inclusive of all requirements of the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time and upon receipt of the Executive's entitlements in accordance with the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, and in accordance with this Agreement, no further amount shall be due and payable to the Executive, whether under statute or at common law and furthermore that this Agreement shall constitute a full defense and bar to any such action, cause of action, complaint, demand or claim that the Executive may bring against the Company in any forum. Without limiting the generality of the foregoing, the Executive understands and agrees that the Additional Notice is inclusive of and in satisfaction of any entitlements (if any) to Benefits, Pension Plan contributions and the Additional Notice will be paid by way of Salary continuation or in a lump sum, or any combination thereof, at the Company's discretion. The Executive understands and agrees that if the Executive chooses not to sign the Full and Final Release Agreement, then the Executive's only entitlement will be to notice, severance pay if applicable, and benefits continuation in accordance with the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, and those set out above at sub article 8(c)(i). All payments are subject to the usual and necessary statutory and other deductions.
(d)
The Executive may terminate this Agreement and the Executive's employment with the Company upon giving NINETY DAYS (90 days) written notice to that effect to the Company. The Company may either require the Executive to continue to perform the Executive's duties, or at its sole discretion, waive all or part of the SIXTY DAY (90 day) notice period and thus establish an earlier Date of Termination. Upon receipt of such notice of termination by the Executive, the Company shall only be required to pay the Executive's Salary, benefits and any other amounts earned and payable under any bonus or incentive plan until the actual Date of Termination.



9.      Death:                In the event of the death of the Executive, this Agreement shall terminate
immediately and without notice or payment in lieu thereof except for Salary earned to the Date of Termination.
10.      Incapacity: Should the Executive be off work due to a physical or mental incapacity which prevents the Executive from performing the essential duties and obligations of the Executive's position for a period of 24 consecutive months, with no reasonable prospect of the Executive resuming regular performance of the essential duties and obligations of the Executive's position as determined by the Company on the basis of satisfactory medical evidence, the Executive shall be deemed to be permanently disabled ("Disabled"). The Executive agrees that as the Executive is essential to the management and efficient operation of the Company, in the event the Executive becomes Disabled, this Agreement will be deemed frustrated and the Company's obligations pursuant to the requirements of the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures as amended from time to time shall be deemed satisfied. Accordingly, in the event that the Executive is Disabled, the Company shall be entitled to terminate the Executive's employment and the Executive shall be entitled to receive only the notice and severance payments, if any, required pursuant to the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time. Nothing in this article shall be construed or interpreted as a guarantee of any term of employment.
11.      Obligations to Third Parties: The Executive covenants that the Executive is not subject to any outstanding employment agreement or restrictive covenant inconsistent with the terms of this Agreement. It is understood that the Executive has not disclosed and will not disclose to the Company any confidential information belonging to any third party in breach of any obligation of confidence, and the Executive has not induced or caused, and will not induce or cause the Company to use or disclose any confidential information to any third party.
12.      Intellectual Property and Confidential Information Agreement: The Executive will be required to execute along with this Agreement, the forthcoming Intellectual Property and Confidential Information Agreement of the Company as outlined by the Company's Policies and Procedures and set forth by the Company's Board of Directors, which forms part of this Agreement. The Executive acknowledges the ongoing nature of the obligations set out in the Intellectual Property and Confidential Information Agreement and the Executive agrees that the Executive shall abide by its provisions.
13.      Non-Solicitation:
(a) The Executive covenants and agrees with the Company that during the period of the Executive's employment under this Agreement and for a period of one (1) year after the Date of Termination, the Executive will not (without the prior written consent of the Company) directly or indirectly, either individually or in partnership or jointly or in conjunction with any person or persons, firm, association, syndicate or corporation, as employee, principal, agent, shareholder or in any other manner whatsoever, solicit the employment of or services of employees or service providers of the Company for the purposes of causing such employees or service providers to leave their employment or terminate or change their relationship with the Company or take employment or enter into a relationship with any business located in North America, including: Canada,



Mexico, or the United States — which is engaged in, established within, or marketing within the Cleaner-Lubricant-Protectant (CLP) market, or any such industry deemed by the Company as direct or indirect competition representing marketers or distributors of similar products and/or services provided by the Company (a "Competitive Business").
(b) The Executive covenants and agrees with the Company that during the period of the Executive's employment under this Agreement and for a period of one (1) year after the Date of Termination, the Executive will not (without the prior written consent of the Company) directly or indirectly, either individually or in partnership or jointly or in conjunction with any person or persons, firm, association, syndicate or corporation, as employee, principal, agent, shareholder or in any other manner whatsoever, solicit or attempt to solicit the business of clients of the Company or assist any other organization or individual to solicit or attempt to solicit the clients of the Company, with whom the Executive had material business contact at any time during the twelve (12) months prior to the cessation of his employment with the Company.
14.      Restrictions Reasonable: The Executive agrees that, given the Executive's senior position with the Company, the Executive is a fiduciary of the Company. In particular, the Executive acknowledges that given the Executive's significant and detailed knowledge of the Company's specialized business and confidential competitive information, the Executive has the ability to seriously harm the interests of the Company by soliciting employees, service providers or clients of the Company. Furthermore, the Executive agrees that given the specialized nature of services provided by the Company, the Company has a limited potential client base. The Executive therefore acknowledges that all covenants and restrictions in this Agreement (including, without restriction, covenants and restrictions in Article 13) are reasonable and valid and all defences to the strict enforcement thereof by the Company are hereby waived. The Executive agrees not to assert that any covenant or provision in this Agreement is void or unenforceable. If any covenant or provision herein is determined to be void or unenforceable in whole or in part, it shall not be deemed to affect or impair the validity of any other covenant or provision.
15.      Equitable Relief: The Executive acknowledges that upon any breach by the Executive of any of the terms of this Agreement or the Intellectual Property and Confidential Information Agreement, the Company shall be entitled to pursue any and all remedies available to it at law or equity, including without limiting the foregoing, injunctive relief and action for damages and other relief whether legal or equitable; and the Executive further covenants and agrees to indemnify and save the Company harmless from and against all costs and expenses including legal and other professional fees and expenses incurred by the Company in connection with or arising out of any proceeding instituted by the Company against the Executive to enforce the terms and provisions of this Agreement where the Company is successful in whole or in part in such proceeding.
16.      Survival: Articles 8, 13, 14 and 15 shall survive the termination of this Agreement and the Executive's employment with the Company. The Executive further agrees that such Articles and the operation of such Articles shall not be affected by the manner of termination of this Agreement and the Executive's employment with the Company.



17.      General Matters:
(a) Notices: Any notice or communication (a "Notice") required or permitted under this Agreement shall be in writing and shall be sent by facsimile transmission or by personal delivery. The Executive may, by written Notice to the Company, change the address or facsimile number to which deliveries and transmissions shall thereafter be made. The Company shall notify the Executive of any change in the address for Notice of the Company. Until changed, the address and facsimile number of the Company and the Executive shall respectively be as follows:
To the Company:
Infinity Real Estate Holdings Corporation Suite 300,
951 Mariners Island Boulevard San Mateo, CA 94404 Contact Number: (403) 966-2169 Fax Number: (941) 296-8991
To the Executive:
Frederick E. Apple, Jr.
1086 Shady Spring Court Lawrenceville, GA 30045 USA
Contact Number: (404) 409-7609 fred@wealthspring.net
(b)
Deemed Date of Delivery: Any Notice given before 3:00 p.m. on a business day in accordance with the provisions of this Agreement shall be deemed to have been received by the party to which it was addressed on the day of personal delivery or facsimile transmission. Any Notice given after 3:00 p.m. on a business day or on a day that is not a business day shall be deemed to have been received by the party to which it was addressed on the next business day following the day of personal delivery or facsimile transmission.
(c)
Waiver of Breach: The waiver by either the Company or the Executive of a breach of any provision of this Agreement shall not operate as or be deemed a waiver of any subsequent breach by either the Company or the Executive. Continuation of payments hereunder by the Company following a breach by the Executive of any provision of this Agreement shall not preclude the Company from thereafter terminating said payments based upon the same violation.
(d)
Severability: It is mutually agreed and understood by the parties hereto that should any of the agreements and covenants contained herein be determined by any court of competent jurisdiction to be invalid by virtue of being vague or unreasonable, including but not limited to the provisions of Article 14, then the parties hereto consent that this



Agreement shall be amended retroactive to the date of its execution to include the terms and conditions said court deems to be reasonable and in conformity with the original intent of the parties hereto and the parties hereto consent that under such circumstances, said court shall have the power and authority to determine what is reasonable and in conformity with the original intent of the parties hereto to the extent that said covenants or agreements are enforceable. In the event that any provision herein or part thereof is deemed void, invalid, illegal or unenforceable by a court of competent jurisdiction, this Agreement shall continue in force with respect to the enforceable provisions and all rights accrued under the enforceable provisions shall survive any such declaration.
(e)
Headings: The division of this Agreement into Sections, subsections and paragraphs and the insertion of headings are for convenience of reference only and shall not affect the construction and interpretation of this Agreement.
(f)
Construction: Words importing the singular number only shall include the plural and vice versa and words importing the masculine gender shall include the feminine gender and neuter.
(g)
Further Acts: The parties hereto agree to execute and deliver such further and other documents and perform and cause to be performed such further and other acts and things as may be necessary in order to give full effect to this Agreement and every part hereof. Furthermore, the Executive agrees that, on and after the date of this Agreement, the Executive will cooperate with the Company and its affiliates in the defence of any claims (unless brought by the Executive) that may be made against the Company or its affiliates to the extent that such claims may relate to the Executive's duties or services hereunder. To the extent travel is required to comply with the requirements of this provision the Executive shall be reimbursed for all reasonable expenses incurred.
(h)
Amendment: This Agreement may be amended or cancelled only by mutual Agreement of the parties hereto in writing.
(i)
Assignment: This Agreement shall ensure to the benefit of and be binding upon the Executive and the Company and their respective heirs, administrators, executors, personal representatives, successors and permitted assigns. The Executive acknowledges that his services are unique and personal. The Executive may not assign his rights or delegate his duties or obligations under this Agreement. However, nothing herein shall otherwise affect the right of the Company to transfer the Executive and to assign this Agreement from the Company to another subsidiary or affiliate of the Company and such change shall not be considered a material change in circumstance which would invalidate the provisions of this Agreement which, in any event, shall survive such transfer. Furthermore, the Company may assign this Agreement to any entity to which the Company sells or transfers assets.
(j)
Entire Agreement: This Agreement, including all Schedules and attachments hereto, which form part of this Agreement, constitutes the sole and complete Agreement between the Company and the Executive with respect to its subject matter and supersedes all other agreements, both oral and written, between the Company and the Executive with respect to the matters contained herein including, without limitation, any severance


agreements or arrangements between the parties hereto. No verbal or other statements, inducements, or representations have been made to or relied upon by the Executive. The parties hereto have read and understand this Agreement.
(k)
Choice of Law and Jurisdiction: This Agreement will be governed by and construed in accordance with the laws of Sarasota County, Florida, or another appropriate jurisdiction as chosen by the Company, without regard to the principles of conflicts of law, and will in all respects be treated as a contract In the event of a dispute, the parties agree that any legal proceedings will be held in a location that is mutual agreed by both parties.
(l)
Independent Legal Advice: The parties hereto acknowledge that they have been afforded an opportunity to obtain independent legal advice with respect to this Agreement and its terms, and are executing the same freely, voluntarily and without duress.
IN WITNESS WHEREOF, this Agreement has been duly executed this                                                                                                                                                                          3rd day of March, 2014.
SIGNED, SEALED AND DELIVERED IN THE PRESENCE OF
 
 
 
 
 
 
 
EX-10.3 6 ex-10_3.htm EX-10.3
THE SHARES OF COMMON STOCK TO BE ACQUIRED BY THE SUBSCRIBER PURSUANT TO THIS SUBSCRIPTION AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE OFFERED, SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM OR NOT SUBJECT TO REGISTRATION UNDER THE SECURITIES ACT, AND THE SUBSCRIBER HAS, IF REQUIRED BY THE COMPANY, DELIVERED AN OPINION OF COUNSEL TO THAT EFFECT. BY ENTERING INTO THIS SUBSCRIPTION AGREEMENT, SUBSCRIBER REPRESENTS, AMONG OTHER THINGS, THAT IT IS AN ACCREDITED INVESTOR (AS DEFINED IN RULE 501(a) OF THE SECURITIES ACT) AND IS ACQUIRING THE COMMON STOCK PURSUANT TO AN EXEMPTION FROM REGISTRATION PURSUANT TO REGULATION D PROMULGATED UNDER THE SECURITIES ACT AND WILL NOT ENGAGE IN ANY TRANSACTIONS WITH RESPECT TO THE COMMON STOCK OF THE COMPANY EXCEPT IN COMPLIANCE WITH THE SECURITIES ACT.
INFINITY REAL ESTATE HOLDINGS CORPORATION
Name of Subscriber:                                                                Rising Tide Holdings, LLC
Address of Subscriber:                                                                3524 Silverside Road, Suite 35B
Wilmington, Delaware 19810 USA
Number of
Shares of Common Stock:                                                                23,350,000
Purchase Price:                                                          $2,335.00
TO:  Infinity Real Estate Holdings Corporation, a Delaware corporation (the "Company").
The Subscriber hereby subscribes for and agrees to purchase the number of shares (the " Shares ") of common stock of the Company, par value $0.0001 per share (the " Common Stock ") specified above in accordance with and subject to the terms, provisions and conditions set forth herein. The Subscriber agrees to pay to the Company $0.0001 per Share, for a total purchase price (the "Purchase Price") equal to the amount set forth above.
The Subscriber understands that this Subscription Agreement may be rejected in whole or in part prior to acceptance at any time for any reason whatsoever by the Company. The Subscriber further understands that in the event this Subscription Agreement is rejected by the Company, the subscription of the Subscriber herein shall become null and void insofar as rejected. Upon such rejection, the Subscriber shall have no further obligations to the Company.


(6)
Subscriber has sufficient knowledge and experience in financial and business matters
and is capable of evaluating the risks and merits of Subscriber's investment in the Company; Subscriber has been provided the opportunity to make all necessary and appropriate inquiries of the Company regarding Company's business and associated risks, and Company has complied with all such requests; and Subscriber is able financially to bear the risk of losing Subscriber's full investment in the Shares.
(7)
The Shares are being acquired in a transaction not involving a public offering and Subscriber understands that the Shares have not been and may not be, registered under the Securities Act or registered or qualified under any the securities laws of any state or other jurisdiction, are and will be "restricted securities" and cannot be resold or otherwise transferred unless they are registered under the Securities Act, and registered or qualified under any other applicable securities laws, or an exemption from such registration and qualification is available. Prior to any proposed transfer of the Shares, Subscriber shall, among other things, give written notice to the Company of Subscriber's intention to effect such transfer, identifying the transferee and describing the manner of the proposed transfer and, if requested by the Company, accompanied by (i) investment representations by the transferee similar to those made by Subscriber in this Section 7 and (ii) an opinion of counsel satisfactory to the Company to the effect that the proposed transfer may be effected without registration under the Securities Act and without registration or qualification under applicable state or other securities laws. Each certificate for the Shares shall bear a legend similar to that set forth on the first page of this Subscription Agreement (insofar as applicable) and otherwise referring to reiterating the restrictions on transfer and other terms hereof applicable to die Shares upon issuance, and containing such other information and imposing such other restrictions as shall be reasonably required by the Company.
(8)
Subscriber understands that no U.S. federal or state government or agency has passed on or made any recommendation or endorsement of offering for sale or the sale of the Shares.
(9)
Subscriber acknowledges there is no restriction imposed hereby upon the Company in respect of the incurring by the Company of additional debt or the issuance by the Company of additional debt or equity securities, or otherwise.
(10)
The Shares will be purchased for the account of the Subscriber for investment only and not with a view to, or with any intention of, a distribution or resale thereof, in whole or in part, or the grant of any participation therein. The Subscriber has not been organized for the specific purpose of acquiring the Shares. The Subscriber acknowledges that the Shares have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction and cannot be disposed of unless subsequently registered under the Securities Act and any applicable laws of states or other jurisdictions or an exemption from such registration is available.
(11)
The Subscriber is an "accredited investor" as defined in Rule 501(a) of Securities and Exchange Commission Regulation D, that is (i) if a natural person, Subscriber has an individual net worth, or joint net worth with the Subscriber's spouse, at the time of the Subscriber's purchase in excess of $1,000,000; (ii) if a corporation, business trust or a partnership, Subscriber was not formed for the specific purpose of acquiring the Shares, and has total assets in excess of $5,000,000.
(12)
The Subscriber acknowledges that at no time was the Subscriber presented with, or solicited by, any leaflet, public promotional meeting, newspaper or magazine article, radio or television advertisement or any other form of general advertising or general solicitation with respect to the Company.
(13)
If the Subscriber is an entity, the Subscriber is duly organized or, if a trust, duly established pursuant to a valid trust instrument, validly existing and in good standing under the laws of the jurisdiction wherein it is organized and has the power and authority to cany on the activities in which it is engaged and to purchase the Shares. This Subscription Agreement and any other documents executed and delivered by the Subscriber in connection therewith or herewith have been duly authorized, executed and delivered by the Subscriber, and are the legal, valid and binding obligations of the Subscriber enforceable in accordance with their respective terms.

(14)
The execution and delivery of this Subscription Agreement and any other documents executed and delivered by the Subscriber in connection herewith do not, and the performance and consummation of the terms and transactions set forth or contemplated therein or herein will not, contravene or result in a default under any provision of existing law or regulations to which the Subscriber is subject, the provisions of the trust instrument, charter, bylaws or other governing documents of the Subscriber (if the Subscriber is an entity) or any indenture, mortgage or other agreement or instrument to which the Subscriber is a party or by which it is bound and does not require on the part of the Subscriber any approval, authorization, license, or filing from or with any foreign, federal, state or municipal board or agency which has not been obtained.
(15)
The Subscriber represents and warrants that the amounts paid or to be paid by it to the Company in respect of this Subscription Agreement were not and arc not directly, or to the Subscriber's knowledge indirectly, derived from activities that contravene federal, state or foreign laws and regulations, including anti-money laundering and terrorist financing laws and regulations. Federal regulations and Executive Orders administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") prohibit, among other things, the engagement in transactions with, and the provision of services to, certain foreign countries, territories, entities, and individuals. The lists of OFAC prohibited countries, territories, persons and entities can be found on the OFAC website at www.treas.gov/ofac.
(16)
The Subscriber represents and warrants to, and agrees and covenants with, the Company, as of the date hereof and as of the date of issuance of the Shares to the. Subscriber, that, to the best of its knowledge, none of (i) the Subscriber, (ii) any person controlling or controlled by the Subscriber, (iii) if the Subscriber is a privately held entity, any person having beneficial interest in the Subscriber, and (iv) any person for which the Subscriber is acting as agent or nominee in connection with this Subscription Agreement, is a country, territory, individual or entity named on the OFAC lists, nor is any such person or entity prohibited from investing in the Company under any OFAC administered sanctions or embargo programs.
(17)
The Subscriber agrees promptly to notify the Company should the Subscriber become aware of any change in the information set forth in Part (18) or Part (19) above. The Subscriber acknowledges and agrees that, if required by law, the Company may be obligated to "freeze the account" of the Subscriber, either by prohibiting additional investments from the Subscriber and/or segregating assets of the Subscriber in compliance with government regulations and, if required by law, the Company may also be required to report such action and to disclose the Subscriber's identity to OFAC. The Subscriber also understands and agrees that the Company may release confidential information about the Subscriber and, if applicable, any underlying beneficial owners of the Subscriber, to law enforcement agencies to the extent necessary to ensure compliance with all applicable laws, rules and regulations.
(18)
The Company reserves the right to request such information as is necessary to verify the identity of the Subscriber, any related party, any individual or entity having a beneficial interest in, or signatory or other similar authority over, the Subscriber and any transferee of the Shares, and may seek to verily such identity and the source of funds for the Purchase Price.
(19)
If the Subscriber is acting as nominee or custodian for another person, entity or organization in connection with the acquisition of the Shares, the undersigned has so indicated on the "Subscriber Information" page attached hereto. The representations and warranties contained in this Part C regarding the Subscriber are true and accurate with regard to both the Subscriber and the person, entity or other organization for which the undersigned is acting as nominee or custodian. The person, entity or organization for which the undersigned is acting as nominee or custodian will not transfer or otherwise dispose of or distribute any part of its economic or beneficial interest in (or any other rights with respect to) the Shares without complying with all of the applicable provisions of this Subscription Agreement and applicable law, as if such person, entity or organization were a holder of the Shares. If the undersigned is acting as nominee or custodian for another person, entity or organization, the undersigned agrees to provide such other information as the Company may reasonably request regarding the undersigned and the person, entity or organization for which the undersigned is acting as nominee or custodian in order to determine the eligibility of the Subscriber to purchase the Shares.

Company Representations and Warranties.

By accepting the Subscriber's subscription, the Company warrants, represents and agrees with the Subscriber as follows:
(1)
The Company is duly organized, validly existing and in good standing as a corporation under the Delaware General Corporation Law, with all requisite corporate power and authority to conduct its business as currently conducted and to issue and sell the Shares in accordance with the terms of this Subscription Agreement. This Subscription Agreement (when accepted) will have been duly authorized, executed and delivered by the Company.
(2)
This Subscription Agreement is a legally binding obligation of the Company, enforceable against the Company in accordance with the terms hereof, except to the extent that (i) such enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors' rights, and (ii) the availability of the remedy of specific performance or in injunctive or other equitable relief is subject to the discretion of the court before which any proceeding therefore may be brought.
D.
Assignment. Survival. Effectiveness and Further Information.
(1)
This Subscription Agreement is not assignable by either the Subscriber or the Company without the prior approval of the other party in its sole and absolute discretion. This Subscription Agreement shall be binding upon the successors and any permitted assigns of the Subscriber and, when accepted by the Company, shall be binding upon the successors and any permitted assigns of the Company.
(2)
All of the agreements, covenants, representations and warranties made by the Subscriber in this Subscription Agreement shall survive the execution and delivery hereof. The Subscriber shall use reasonable efforts to notify the Company and to do so promptly upon discovering that any of the representations or warranties made herein were false when made or has, as a result of changes in circumstances, become false. Every provision of this Subscription Agreement is intended to be severable, and if any term or provision hereof is held to be illegal or invalid for any reason whatsoever, such illegality or invalidity shall not affect the validity of the remainder hereof.
(3)
The agreements of the Subscriber set forth herein shall become effective and binding upon the Subscriber, without right of revocation, upon the Company's acceptance of this Subscription Agreement.
E.
Miscellaneous. Unless otherwise indicated, the address on the first page of this document is the legal residence of the Subscriber, and all offers and communications in connection with the offering of the shares of Common Stock subscribed to herein have been conducted at such address. The Subscriber, if a foreign entity, represents that it has complied with all of the laws, if any, of its country of residence applicable to the acquisition of the Shares subscribed to herein.
F.
Remedies. The Subscriber understands the meaning and legal consequences of its covenants, representations and warranties contained herein, and hereby agrees that the Company may recover from the Subscriber, and the Subscriber shall hold the Company harmless from, any and all loss, damage or liability due to or arising out of any breach of any such covenant, representation or warranty.
G.
Communication. Any notice, demand, request or other communication which may be required or contemplated herein (including delivery of this Subscription Agreement by and between the parties hereto) shall be sufficiently given or delivered if (i) given either by facsimile transmission (with confirmation of receipt), by reputable overnight delivery service, postage prepaid, or by registered or certified mail, postage prepaid and return receipt requested, to the address indicated herein or to such other address as any party hereto may specify as provided herein, or (ii) delivered personally at such address.


H.
Applicable Law. This Subscription Agreement and all legal relations, claims or obligations arising out of this transaction shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to conflicts of law provisions.
I.
Confirmation of Representations: Additional Information. Upon request of the Company, the Subscriber shall confirm the accuracy of the representations in this Subscription Agreement to the Company as of the Closing Date and will use reasonable efforts to notify the Company and to do so promptly if the Subscriber becomes aware that such representations are, at any time, inaccurate in any respect. In addition, the Subscriber hereby agrees to respond reasonably to requests to supply any additional written information concerning the representations in this Subscription Agreement that the Company may reasonably request.
J.
Indemnification. The Subscriber shall indemnify and hold harmless the Company and its agents and affiliates (collectively, the " Indemnified Persons ") from and against any losses, claims, damages, liabilities, costs or expenses to which any of them may become subject arising out of or based upon any false representation or warranty, or any breach of or failure to comply with any covenant or agreement, made by the Subscriber in this Subscription Agreement or in any other document furnished to the Company in connection with the Subscriber's investment in the Company. The Subscriber will reimburse each Indemnified Person for his, her or its reasonable legal and other expenses (including the cost of any investigation and preparation) as they are incurred in connection with any action, proceeding or investigation arising out of or based upon the foregoing. The indemnity and reimbursement obligations of the Subscriber under this Part J shall be in addition to any liability which the Subscriber may otherwise have.
K.
General. This Subscription Agreement may be executed in counterparts with the same effect as if the parties executing the counterparts had all executed one counterpart. This Subscription Agreement and the documents specifically referred to herein constitute the entire agreement among the parties hereto pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings of the parties in connection therewith. Neither this Subscription Agreement nor any provision hereof may be waived, modified, discharged or terminated except by an instrument in writing signed by the party against whom such waiver, modification, discharge or termination is sought to be enforced. Each provision of this Subscription Agreement shall be considered separable and if for any reason any provision or provisions hereof are determined to be invalid and contrary to any existing or future law, such invalidity shall not impair the operation of or affect those portions of this Subscription Agreement which are valid.
[signatures arc on the following pages]

 



SUBSCRIBER INFORMATION
(The information below should be consistent with the form of ownership selected below)
 
Name (please print):
Rising Tide Holdings, LLC
                       If entity named above
Social Sequrity\or Taxpayer I.D. Number:
46-4682201
Address (including zip code)
3524 Silverside Road, Suite 35B
Wilmington, Delaware 19810
USA
Phone
(941)          914-3118
Purchaser's Prior Business Experience
(a) The Purchaser's educational background is as follows:
Purchaser's educational background includes high school diploma in 1982,3.5 years of college study and various professional designations including past licensing in the securities field
(b) The Purchaser's prior business investment experience can be described as follows:
Purchaser's prior business investment experience encompasses the genesis, development, build out and sale of several companies across a variety of industries including both private and public entities



Type of Ownership (select one)
PLEASE INDICATE BY CHECKING THE APPROPRIATE BOX BELOW THE FORM IN WHICH YOU WILL HOLD TITLE TO YOUR INTEREST. SUBSCRIBERS SHOULD SEEK THE ADVICE OF THEIR ATTORNEYS TN DECIDING IN WHICH OF THE FORMS THEY SHOULD TAKE OWNERSHIP OF THE SHARES BECAUSE DIFFERENT FORMS OF OWNERSHIP CAN HAVE VARYING GIFT TAX, ESTATE TAX, INCOME TAX, AND OTHER CONSEQUENCES, DEPENDING ON THE STATE OF THE INVESTOR'S DOMICILE AND HIS OR HER PARTICULAR PERSONAL CIRCUMSTANCES. FOR EXAMPLE, IN COMMUNITY PROPERTY STATES, IF COMMUNITY PROPERTY ASSETS ARE USED TO PURCHASE SHARES HELD AS SEPARATE PROPERTY, ADVERSE GIFT TAX CONSEQUENCES MAY RESULT.
INDIVIDUAL OWNERSHIP (one signature required)
_ JOINT TENANTS WITH RIGHT OF SURVIVORSHIP AND NOT AS TENANTS IN COMMON (both or all parties must sign)
COMMUNITY PROPERTY (one signature required if interest held in one name, i.e., managing spouse; two signatures required if interest held in both names)
 TENANTS IN COMMON (both or all parties must sign)
 GENERAL PARTNERSHIP (fill out all documents in the name of the General Partnership, by a
PARTNER authorized to sign, and include a copy of the Partnership Agreement)
LIMITED PARTNERSHIP (fill out all documents in the name of the LIMITED PARTNERSHIP, by a GENERAL PARTNER authorized to sign, and include a copy of the Limited Partnership Agreement and any other document showing that the investment is authorized)
X CORPORATION or limited liability company ("LLC") (fill out all documents in the name of the CORPORATION or the LLC, by the President, Manager or other person authorized to sign, and include a copy of the certified Corporate Resolution authorizing the signature or similar LLC resolution)
TRUST (fill out all documents in the name of the TRUST, by the trustee, and include a copy of die instrument creating the trust and any other documents necessary to show that the investment by the trustee is authorized. The date of the trust must appear on the Notarial where indicated)
EX-10.4 7 ex-10_4.htm EX-10.4
EXECUTIVE EMPLOYMENT AGREEMENT
THIS EXECUTIVE EMPLOYMENT AGREEMENT (this "Agreement"), dated March 13th, 2014, (the "Effective Date") is made and entered by and between INFINITY REAL ESTATE HOLDINGS CORPORATION, a Delaware corporation (the "Company"), and TREVOR ERRIDGE (the "Executive").
WITNESSETH:
WHEREAS the Company and the Executive have agreed to enter into this Executive Employment Agreement (this "Agreement") to establish their respective rights and obligations in regard to the employment of the Executive by the Company and their respective rights and obligations in the event of the termination of that employment;
THEREFORE, the parties hereby agree to abide by all future Amendments, Schedules and Exhibits to be established which may include, but are not limited to: Employee Benefits, Additional Compensation including: Profit Sharing and Bonuses, Stock Options and Stock Ownership, and other compensatory accommodations as set forth by the Company's Board of Directors for the Executive, and remaining consistent with the Company's Employment Policies and Procedures;
FURTHERMORE, in consideration of the mutual covenants and agreements contained herein, the sufficiency of which consideration is hereby acknowledged, the parties hereto covenant and agree as follows:
Employment Period: Subject to termination as provided for in this Agreement, this Agreement is for a term commencing on March 13th, 2014.
Interim Employment Period:
The parties also agree that there will be an Interim Employment Period, beginning with the Employment Period Commencement Date, and by mutual consent not to exceed 6 months, wherein the Executive shall be considered employed while also performing key, albeit limited, duties as set forth by the Company. During this period, the Company acknowledges that the Executive can continue to engage in other income generating activities including, but not limited to: sales, consulting, or other activities until such time that the 6 month interim period has elapsed, or that the payroll process has begun. In consideration for the Interim Employment Period, the Company shall provide a one-time special dispensation to the Executive for special compensation as outlined in Section 2 (a).
Executive Term/ Duration Period:
This agreement shall remain in effect for a period of FIVE YEARS (5 Years) listed within the Employment Period as the commencement date, with the exception of those items being subject to the termination provisions contained herein and outlined in (Section 8).

Executive Relocation:
The Executive agrees to relocate as necessary and at the Company's discretion. The Company agrees to reimburse expenses directly related to the Executive's relocation as outlined and approved by the Company's "to be established" Policies and Procedures.



1.      Duties and Responsibilities: The Executive's employment with the Company shall be subject to the following:
(a)
The Executive agrees that, during the entire term of this Agreement, the Executive shall be responsible for performing the duties and responsibilities of CHIEF FINANCIAL OFFICER, PRINCIPAL ACCOUNTING OFFICER, and TREASURER. The
Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion.
(b)
The Executive shall perform all duties assigned to the Executive faithfully and efficiently. The Executive will have such authority and power as are inherent to the undertakings applicable to the Executive's position and necessary to carry out the Executive's responsibilities and the duties required of the Executive.
(c)
During the Executive's employment the Executive shall devote the whole of the Executive's business time, energies, talents, attention and ability to the performance of the Executive's duties and responsibilities under this Agreement and use the Executive's best efforts to promote the interests of the Company. The Executive shall not, without the prior written consent of the Company, accept employment, or engage in self-employment, or any other contract or assignment with any other individual, firm, corporation or board of directors at any time during the term of this Agreement. The Company understands the Executive may receive the benefit of work produced prior to employment with the Company regarding: Castanet Trading 1129 (a South African Company) and Iris Solutions, Inc. This includes all forms of compensation including revenue sharing, commissions, and/or other related compensatory accommodations.
(d)
The Executive agrees to abide by the policies, rules, regulations, systems and procedures that the Company may institute from time to time.
2.      Base Salary:
(a)
Subject to the terms and conditions of this Agreement, the Company shall pay the Executive an annual gross base salary of TWO HUNDRED FORTY THOUSAND DOLLARS ($240,000.00 US). The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions.
(b)
In consideration for the Interim Employment Period, the Company's Board of Directors agrees to provide the Executive a one-time special dispensation for compensation as represented by 100,000 (Class A Common and Restricted) shares in IREHC. The



Company has informed the Executive, and the Executive acknowledges that the shares will be restricted for 12 months from the time of issuance
3.      Incentive Compensation Plan: The Executive shall be entitled to participate in a Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.
(a)
The payment of an Incentive Compensation payment in any year shall not be considered a precedent for any later year and the payment shall not fetter the absolute discretion of the Board in future years to pay or not to pay an Incentive Compensation payment.
(b)
The Company retains the right to unilaterally revise the Incentive Compensation Plan at any time, up to and including its complete discontinuance, at its sole discretion.
4.      Hours of Work: The Executive understands that the hours of work involved in the performance of the Executive's duties and responsibilities will vary and may be irregular as required to meet the objective of carrying out the Executive's professional role within management. The Salary of the Executive has been determined taking into account that the position requires that the Executive work such variable hours, including frequent travel and accordingly, the Executive shall not receive any additional compensation.
5.      Vacation: The Executive understands that vacation (hereafter "Vacation") represents any company sanctioned time-off which is accumulated by the Executive for various purposes, including: vacation, sick time and personal days. The Executive also understands that the Company reserves the right to alter and/or change the company vacation policy at their sole discretion and consistent with potential changes in their policies and procedures. The Company's vacation year runs from January 1st to December 31st of each calendar year (the "Vacation Year"). The Executive will be entitled to earn 2.5 days of vacation leave per month of service to a maximum of 30 days such vacation leave days per Vacation Year and shall be taken and administered in accordance with the Company's current vacation policy. The Executive is encouraged to take vacation during the year that it is earned. On January 1st of each year, the Executive may automatically carry over up to a maximum of ten (10) days of accrued but unused vacation into the following year. All unused vacation in excess of the carry over maximum will be forfeited. Pay is not granted in lieu of vacation time not taken. Upon termination of employment, the Executive agrees that the Company may deduct from any wages or other compensation owed to the Executive any vacation with pay that has been taken by the Executive, but which had not yet been accrued.
6.      Group Benefits: The Executive shall be entitled to participate in any of the Company's group life, health and disability benefit plans (including but not limited to the Executive Disability Insurance Plan) which may be applicable to the Executive and in effect during the period of this Agreement, under such terms and conditions as provided thereunder. The Executive's entitlement to payment of benefits under such plans will be governed by the policies put in place by the insurer(s). If, for some reason, the Executive does not qualify to participate in a plan or is ineligible to receive a given benefit for whatever reason, the Company will have no



obligation to provide the Executive with replacement benefits. The Company reserves the right to change insurers, change benefit plans and to modify or cancel the benefits it makes available to the Executive from time to time.
7.      Pension:
(a)
Where applicable, the Executive shall be entitled to participate in:
(i)
the Company's Pension Plan (the "Pension Plan") in accordance with the terms and conditions of the Pension Plan and as such terms and conditions may be amended from time to time.
(b)
The Executive acknowledges and agrees that the Pension Plan offered by the Company may be amended at any time, up to and including its complete discontinuance, in the Company's sole discretion. The Executive agrees that any changes to the Pension Plan shall not result in a termination of this Agreement and shall not constitute constructive dismissal.
8.      Termination of Employment:
(a)
Under this Agreement, the "Date of Termination" shall mean:
(i)
if the Company terminates the Executive's employment, the date designated by the Company as the last day of the Executive's employment (without reference to and notwithstanding any applicable notice period to which the Executive may be entitled, whether under statue, common law, contract or otherwise);
(ii)
if the Executive resigns the Executive's employment with the Company, the date which is the last day of the period specified in paragraph 8(d) below, or such earlier date as the Company may require in accordance with paragraph 8(d);
(iii)
if the Executive dies, the date of death;
(iv)
if this Agreement is frustrated at law, which includes but is not limited to Incapacity as specified at paragraph 10 below, the date designated by the Company as the last day of the Executive's employment.
(b)
The Company shall be entitled to terminate this Agreement at any time and without notice or payment in lieu thereof or any other payment except for Salary up to the Date of Termination, if the conduct of the Executive is such as to constitute just cause for dismissal. The Executive and the Company agree that "just cause" shall mean:
(i)
any regulatory sanction that precludes the Executive from fulfilling the Executive's duties under this Agreement;
(ii)
any act of the Executive resulting in a criminal conviction of an offence that, in the sole opinion of the Company, is prejudicial to the reputation or business of the



                          Company or which negatively impacts on the Executive's performance of the Executive's duties;
(iii)
any serious breach of the Company's Workplace Violence, Discrimination and Harassment policies by the Executive as defined by the policies, rules, regulations, systems and procedures of the Company as instituted from time to time;
(iv)
the commission by the Executive of any act of fraud or theft, whether or not it involves the Company;
(v)
any serious breach by the Executive of this Agreement (including all Schedules and attachments hereto) or the Company's written policies in effect from time to time;
(vi)
any further grounds constituting just cause under the common law.
(c)
The Company shall be entitled to terminate this Agreement and the employment of
the Executive at any time without cause by providing the Executive with the following:
(i) written notice of termination of employment the Company shall provide the Executive 60 days written notice, or pay in lieu of notice or any combination thereof, and severance pay if applicable, in accordance with and limited to the requirements and laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time. The Company will also continue all group employee benefit coverage to which the Executive is ordinarily entitled under the group executive benefit plan(s), during the period of notice of termination of employment as required by the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time;
The Executive acknowledges that the provision of such amounts as set out above within this sub article 8(c) are reasonable and that they satisfy and are inclusive of all requirements of the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time and upon receipt of the Executive's entitlements in accordance with the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, and in accordance with this Agreement, no further amount shall be due and payable to the Executive, whether under statute or at common law and furthermore that this Agreement shall constitute a full defense and bar to any such action, cause of action, complaint, demand or claim that the Executive may bring against the Company in any forum. Without limiting the generality of the foregoing, the Executive understands and agrees that the Additional Notice is inclusive of and in satisfaction of any entitlements (if any) to Benefits, Pension Plan contributions and the Additional Notice will be paid by way of Salary continuation or in a lump sum, or any combination thereof, at the Company's discretion. The Executive understands and agrees that if the Executive chooses not to sign the Full and Final Release Agreement, then the Executive's only entitlement will be to notice, severance pay if applicable, and benefits continuation in accordance with the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, and those set



out above at sub article 8(c)(i). All payments are subject to the usual and necessary statutory and other deductions.
(d)
The Executive may terminate this Agreement and the Executive's employment with the Company upon giving SIXTY DAYS (60 days) written notice to that effect to the Company. The Company may either require the Executive to continue to perform the Executive's duties, or at its sole discretion, waive all or part of the SIXTY DAY (60 day) notice period and thus establish an earlier Date of Termination. Upon receipt of such notice of termination by the Executive, the Company shall only be required to pay the Executive's Salary, benefits and any other amounts earned and payable under any bonus or incentive plan until the actual Date of Termination.
9.
Death:                In the event of the death of the Executive, this Agreement shall terminate
immediately and without notice or payment in lieu thereof except for Salary earned to the Date of Termination.
10.
Incapacity: Should the Executive be off work due to a physical or mental incapacity which prevents the Executive from performing the essential duties and obligations of the Executive's position for a period of 24 consecutive months, with no reasonable prospect of the Executive resuming regular performance of the essential duties and obligations of the Executive's position as determined by the Company on the basis of satisfactory medical evidence, the Executive shall be deemed to be permanently disabled ("Disabled"). The Executive agrees that as the Executive is essential to the management and efficient operation of the Company, in the event the Executive becomes Disabled, this Agreement will be deemed frustrated and the Company's obligations pursuant to the requirements of the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures as amended from time to time shall be deemed satisfied. Accordingly, in the event that the Executive is Disabled, the Company shall be entitled to terminate the Executive's employment and the Executive shall be entitled to receive only the notice and severance payments, if any, required pursuant to the laws of the State of Florida, The United States of America, and the Company's Policies and Procedures, as amended from time to time. Nothing in this article shall be construed or interpreted as a guarantee of any term of employment.
11.
Obligations to Third Parties: The Executive covenants that the Executive is not subject to any outstanding employment agreement or restrictive covenant inconsistent with the terms of this Agreement. It is understood that the Executive has not disclosed and will not disclose to the Company any confidential information belonging to any third party in breach of any obligation of confidence, and the Executive has not induced or caused, and will not induce or cause the Company to use or disclose any confidential information to any third party.
12.
Intellectual Property and Confidential Information Agreement: The Executive will be required to execute along with this Agreement, the forthcoming Intellectual Property and Confidential Information Agreement of the Company as outlined by the Company's Policies and Procedures and set forth by the Company's Board of Directors, which forms part of this Agreement. The Executive acknowledges the ongoing nature of the obligations set out in the Intellectual Property and Confidential Information Agreement and the Executive agrees that the Executive shall abide by its provisions.


13.
Non-Solicitation:
(a)
The Executive covenants and agrees with the Company that during the period of the Executive's employment under this Agreement and for a period of one (1) year after the Date of Termination, the Executive will not (without the prior written consent of the Company) directly or indirectly, either individually or in partnership or jointly or in conjunction with any person or persons, firm, association, syndicate or corporation, as employee, principal, agent, shareholder or in any other manner whatsoever, solicit the employment of or services of employees or service providers of the Company for the purposes of causing such employees or service providers to leave their employment or terminate or change their relationship with the Company or take employment or enter into a relationship with any business located in North America, including: Canada, Mexico, or the United States — which is engaged in, established within, or marketing within the Cleaner-Lubricant-Protectant (CLP) market, or any such industry deemed by the Company as direct or indirect competition representing marketers or distributors of similar products and/or services provided by the Company (a "Competitive Business").
(b)
The Executive covenants and agrees with the Company that during the period of the Executive's employment under this Agreement and for a period of one (1) year after the Date of Termination, the Executive will not (without the prior written consent of the Company) directly or indirectly, either individually or in partnership or jointly or in conjunction with any person or persons, firm, association, syndicate or corporation, as employee, principal, agent, shareholder or in any other manner whatsoever, solicit or attempt to solicit the business of clients of the Company or assist any other organization or individual to solicit or attempt to solicit the clients of the Company, with whom the Executive had material business contact at any time during the twelve (12) months prior to the cessation of his employment with the Company.
14.
Restrictions Reasonable: The Executive agrees that, given the Executive's senior position with the Company, the Executive is a fiduciary of the Company. In particular, the Executive acknowledges that given the Executive's significant and detailed knowledge of the Company's specialized business and confidential competitive information, the Executive has the ability to seriously harm the interests of the Company by soliciting employees, service providers or clients of the Company. Furthermore, the Executive agrees that given the specialized nature of services provided by the Company, the Company has a limited potential client base. The Executive therefore acknowledges that all covenants and restrictions in this Agreement (including, without restriction, covenants and restrictions in Article 13) are reasonable and valid and all defences to the strict enforcement thereof by the Company are hereby waived. The Executive agrees not to assert that any covenant or provision in this Agreement is void or unenforceable. If any covenant or provision herein is determined to be void or unenforceable in whole or in part, it shall not be deemed to affect or impair the validity of any other covenant or provision.
15.
Equitable Relief: The Executive acknowledges that upon any breach by the Executive of any of the terms of this Agreement or the Intellectual Property and Confidential Information Agreement, the Company shall be entitled to pursue any and all remedies available to it at law or equity, including without limiting the foregoing, injunctive relief and action for damages and other relief whether legal or equitable; and the Executive further covenants and agrees to



indemnify and save the Company harmless from and against all costs and expenses including legal and other professional fees and expenses incurred by the Company in connection with or arising out of any proceeding instituted by the Company against the Executive to enforce the terms and provisions of this Agreement where the Company is successful in whole or in part in such proceeding.
16.
Survival: Articles 8, 13, 14 and 15 shall survive the termination of this Agreement and the Executive's employment with the Company. The Executive further agrees that such Articles and the operation of such Articles shall not be affected by the manner of termination of this Agreement and the Executive's employment with the Company.
17.
General Matters:
(a) Notices. Any notice or communication (a "Notice") required or permitted under this Agreement shall be in writing and shall be sent by facsimile transmission or by personal delivery. The Executive may, by written Notice to the Company, change the address or facsimile number to which deliveries and transmissions shall thereafter be made. The Company shall notify the Executive of any change in the address for Notice of the Company. Until changed, the address and facsimile number of the Company and the Executive shall respectively be as follows:
To the Company:
Infinity Real Estate Holdings Corporation Suite 300,
951 Mariners Island Boulevard San Mateo, CA 94404 Contact Number: (403) 966-2169 Fax Number: (941) 296-8991
To the Executive:
Trevor Erridge 42103 Mill Creek Avenue Atlanta, GA 30022 Contact Number: (770) 331-3264 erridget @ bell south .net
(b)
Deemed Date of Delivery. Any Notice given before 3:00 p.m. on a business day in accordance with the provisions of this Agreement shall be deemed to have been received by the party to which it was addressed on the day of personal delivery or facsimile transmission. Any Notice given after 3:00 p.m. on a business day or on a day that is not a business day shall be deemed to have been received by the party to which it was addressed on the next business day following the day of personal delivery or facsimile transmission.
(c)
Waiver of Breach. The waiver by either the Company or the Executive of a breach of any provision of this Agreement shall not operate as or be deemed a waiver of any subsequent breach by either the Company or the Executive. Continuation of payments


hereunder by the Company following a breach by the Executive of any provision of this Agreement shall not preclude the Company from thereafter terminating said payments based upon the same violation.
(d)
Severability. It is mutually agreed and understood by the parties hereto that should any of the agreements and covenants contained herein be determined by any court of competent jurisdiction to be invalid by virtue of being vague or unreasonable, including but not limited to the provisions of Article 14, then the parties hereto consent that this Agreement shall be amended retroactive to the date of its execution to include the terms and conditions said court deems to be reasonable and in conformity with the original intent of the parties hereto and the parties hereto consent that under such circumstances, said court shall have the power and authority to determine what is reasonable and in conformity with the original intent of the parties hereto to the extent that said covenants or agreements are enforceable. In the event that any provision herein or part thereof is deemed void, invalid, illegal or unenforceable by a court of competent jurisdiction, this Agreement shall continue in force with respect to the enforceable provisions and all rights accrued under the enforceable provisions shall survive any such declaration.
(e)
Headings. The division of this Agreement into Sections, subsections and paragraphs and the insertion of headings are for convenience of reference only and shall not affect the construction and interpretation of this Agreement.
(f)
Construction. Words importing the singular number only shall include the plural and vice versa and words importing the masculine gender shall include the feminine gender and neuter.
(g)
Further Acts. The parties hereto agree to execute and deliver such further and other documents and perform and cause to be performed such further and other acts and things as may be necessary in order to give full effect to this Agreement and every part hereof. Furthermore, the Executive agrees that, on and after the date of this Agreement, the Executive will cooperate with the Company and its affiliates in the defence of any claims (unless brought by the Executive) that may be made against the Company or its affiliates to the extent that such claims may relate to the Executive's duties or services hereunder. To the extent travel is required to comply with the requirements of this provision the Executive shall be reimbursed for all reasonable expenses incurred.
(h)
Amendment. This Agreement may be amended or cancelled only by mutual Agreement of the parties hereto in writing.
(i)
Assignment. This Agreement shall ensure to the benefit of and be binding upon the Executive and the Company and their respective heirs, administrators, executors, personal representatives, successors and permitted assigns. The Executive acknowledges that his services are unique and personal. The Executive may not assign his rights or delegate his duties or obligations under this Agreement. However, nothing herein shall otherwise affect the right of the Company to transfer the Executive and to assign this Agreement from the Company to another subsidiary or affiliate of the Company and such change shall not be considered a material change in circumstance which would invalidate the provisions of this


Agreement which, in any event, shall survive such transfer. Furthermore, the Company may assign this Agreement to any entity to which the Company sells or transfers assets.
(j)
Entire Agreement. This Agreement, including all Schedules and attachments hereto, which form part of this Agreement, constitutes the sole and complete Agreement between the Company and the Executive with respect to its subject matter and supersedes all other agreements, both oral and written, between the Company and the Executive with respect to the matters contained herein including, without limitation, any severance agreements or arrangements between the parties hereto. No verbal or other statements, inducements, or representations have been made to or relied upon by the Executive. The parties hereto have read and understand this Agreement.
(k)
Choice of Law and Jurisdiction. This Agreement will be governed by and construed in accordance with the laws of Sarasota County, Florida, or another appropriate jurisdiction as chosen by the Company, without regard to the principles of conflicts of law, and will in all respects be treated as a contract. In the event of a dispute, the parties agree that any legal proceedings will be held in a location that is mutual agreed by both parties.
(l)
Independent Legal Advice. The parties hereto acknowledge that they have been afforded an opportunity to obtain independent legal advice with respect to this Agreement and its terms, and are executing the same freely, voluntarily and without duress.
 

IN WITNESS WHEREOF, this Agreement has been duly executed this                                                                                                                                                                          day of  13
March, 2014.
                                                                                                    Per:
 
 
SIGNED, SEALED AND DELIVERED
 
 
 
 
 
INFINITY REAL ESTATE HOLDINGS CORPORATION
Dave Lavoie
CEO & Chairman
 

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The amendment was duly adopted in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.</div> <div>&#160;</div> <div style="text-align: justify; font-family: '\', \'times new roman\', \'', times, serif; font-size: 10pt;">On March 1, 2014, Infinity Real Estate Holdings Corporation<font style="font-family: '\', \'times new roman\', \'', times, serif; font-size: 10pt; font-weight: bold;">&#160;</font>entered into a five year<font style="font-family: '\', \'times new roman\', \'', times, serif; font-size: 10pt; font-weight: bold;">&#160;</font>Executive Employment Agreement with its Chief Executive Officer David Lavoie the president and CEO of Infinity Financial Group, Inc., a shareholder of the Company. Pursuant to the agreement, Mr. Lavoie shall be responsible for performing the duties and responsibilities of Chief Executive Officer<font style="font-family: '\', \'times new roman\', \'', times, serif; font-size: 10pt; font-weight: bold;">.</font>&#160;&#160;The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of<font style="font-family: '\', \'times new roman\', \'', times, serif; font-size: 10pt; font-weight: bold;">$</font>240,000.00 USD. The Executive's salary shall be reviewed annually by the Board of Directors of the Company.&#160; The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. 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The Company was granted a repurchase option for 1,500,000 of the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the Consulting Services Agreement entered into Accelerated Venture Partners, LLC on July 23, 2012. Following these transactions and current holdings, Accelerated Venture Partners, LLC owned approximately 11.38% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001.</div> <div>&#160;</div> <div style="text-align: justify; font-family: '\', \'times new roman\', \'', times, serif; font-size: 10pt;">The officers and directors of the Company are involved in other business activities and may, in the future, become involved in additional business opportunities that become available.&#160;&#160;A conflict may arise in selecting between the Company and other business interests. 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SUBSEQUENT EVENTS
6 Months Ended
Mar. 31, 2014
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
NOTE 4 - SUBSEQUENT EVENTS
 
On April 16, 2014, Accelerated Venture Partners elected to terminate the AVP Consulting Services Agreement entered into on July 23, 2012 with the Company. On April 28, 2014 Infinity Real Estate Holdings Corporation exercised it's right to repurchase the 5% of the Company's total "fully-diluted" capitalization which was issued to AVP representing 3,000,000 shares at $0.0001 per share totaling a repurchase price of $300.00.

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COMMON STOCK
6 Months Ended
Mar. 31, 2014
Equity [Abstract]  
COMMON STOCK
NOTE 3
-
COMMON STOCK
 
The Company is currently issuing only one class of common stock, and this has been issued at two different prices since inception. The Company is authorized to issue 200,000,000 shares of common stock. As of September 30, 2013, 26,350,000 shares of common stock were issued and outstanding. 
 
On October 21, 2011 (inception date), the company issued 5,000,000 shares for cash of $2,000 to the founder of the Company.
 
On July 23, 2012, Sole Comfort Shoes, Inc. ("Purchaser") agreed to acquire 23,350,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. At the same time, Accelerated Venture Partners,
 
LLC agreed to tender 3,500,000 of their 5,000,000 shares of the Company's common stock par value $0.0001 for cancellation. Following these transactions, Sole Comfort Shoes, Inc. owned approximately 94% of the Company's 24,850,000 issued and outstanding shares of common stock par value $0.0001 and the interest of Accelerated Venture Partners, LLC was reduced to approximately 6% of the total issued and outstanding shares. Simultaneously with the share purchase, Timothy Neher resigned from the Company's Board of Directors and Onkar Dhaliwal was simultaneously appointed to the Company's Board of Directors. Such action represents a change of control of the Company. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares.
 
Prior to the purchase of the shares, the Purchaser was not affiliated with the Company. However, the Purchaser will be deemed an affiliate of the Company after the share purchase as a result of their stock ownership interest in the Company. The purchase of the shares by the Purchaser was completed pursuant to written Subscription Agreements with the Company. The purchase was not subject to any other terms and conditions other than the sale of the shares in exchange for the cash payment. Concurrent with the sale of the shares, the Company will file a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to "Sole Comfort Shoes, Inc.".
 
On July 23, 2012, the Company entered into a Consulting Services Agreement with AVP. The agreement requires AVP to provide the Company with certain advisory services that include reviewing the Company's business plan, identifying and introducing prospective financial and business partners, and providing general business advice regarding the Company's operations and business strategy in consideration of (a) an option granted by the Company to AVP to purchase 1,500,000 shares of the Company's common stock at a price of $0.0001 per share (the "AVP Option") (which was immediately exercised by the holder) subject to a repurchase option granted to the Company to repurchase the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the agreement subject to the following milestones:
 
Milestone 1 – Company's right of repurchase will lapse with respect to 60% of the shares upon securing $5 million in available cash from funding;
 
Milestone 2 – Company's right of repurchase will lapse with respect to 40% of the Shares upon securing $10 million in available cash (inclusive of any amounts attributable to Milestone 1);
 
On September 3, 2013, pursuant to Article V, Section 5.3 of the Company's by-laws the Board of Directors authorized Sole Comfort Shoes, Inc. the Company's majority stockholder to transfer 23,350,000 shares (100% of its holdings) of the Company's common stock having a ($0.0001) par value to Infinity Financial Group, Inc.  Following the transaction, Infinity Financial Group, Inc. owns approximately 88.61% of the Company's 26,350,000 issued and outstanding shares of common stock have a ($0.0001) par value Simultaneously with the share transfer, Onkar Dhaliwal resigned as the Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer and David Lavoie was simultaneously appointed to be Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer.  Such action represents a change of control of the Company. Concurrent with the transfer of the shares, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to "Infinity Real Estate Holdings Corporation".
 
On September 3, 2013, a meeting of the shareholders holding a majority of voting shares consented in writing in lieu of a shareholder meeting as provided for under Article I, Section 1.1 of the By-laws, and approved the amendment of its articles of incorporation authorizing the name of the Corporation to be changed from "Accelerated Acquisition XVI, Inc." to "Infinity Real Estate Corporation" and further approved the increase of authorized common stock to 200,000,000 shares having a ($0.0001) par value and 10,000,000 shares of preferred stock having a ($0.0001) par value, and further approved an amendment setting forth the name and address of the appointed director of the corporation to David Lavoie c/o, 53 Cranarch Court SE Calgary, AB T3M 0S6". The amendment was duly adopted in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.
 
On March 4, 2014 Rising Tide Holdings, LLC ("Purchaser") agreed to acquire 23,350,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. Following this transaction, Rising Tide Holdings, LLC owned approximately 44.30% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001. Simultaneously with the share purchase, David Lavoie resigned as the Company's President and
Frederick E. Apple, Jr. was simultaneously appointed as President and to the Company's Board of Directors, furthermore, Thomas Howell was simultaneously appointed as Chief Operations Officer and to the Company's Board of Directors. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares.
 
Prior to the purchase of the shares, the Purchaser was not affiliated with the Company. However, the Purchaser will be deemed an affiliate of the Company after the share purchase as a result of their stock ownership interest in the Company. The purchase of the shares by the Purchaser was completed pursuant to written Subscription Agreements with the Company.  The purchase was not subject to any other terms and conditions other than the sale of the shares in exchange for the cash payment.
 
On March 4, 2014 Accelerated Venture Partners, LLC. an affiliate of the Company agreed to acquire 3,000,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. The Company was granted a repurchase option for 1,500,000 of the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the Consulting Services Agreement entered into Accelerated Venture Partners, LLC on July 23, 2012. Following these transactions and current holdings, Accelerated Venture Partners, LLC owned approximately 11.38% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001.
 
On March 13, 2014, Infinity Real Estate Holdings Corporationentered into a five year Executive Employment Agreement with Trevor Erridge. Pursuant to the agreement, Mr. Erridge shall be responsible for performing the duties and responsibilities of Chief Financial Officer, Principal Accounting Officer and Treasurer.  The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $240,000.00 USD and was granted 100,000 shares of common stock at a price of .0001per share, the shares are restricted from resale for twelve months. The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.
XML 25 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED BALANCE SHEETS (USD $)
Mar. 31, 2014
Sep. 30, 2013
CURRENT ASSETS:    
Cash      
TOTAL ASSETS      
CURRENT LIABILITIES:    
Accrued expenses 1,250  
TOTAL LIABILITIES 1,250   
STOCKHOLDERS' DEFICIT:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; none issued or outstanding      
Common stock, $0.0001 par value; 200,000,000 shares authorized; 52,800,000 and 26,350,000 shares issued and outstanding as of March 31, 2014 and September 30, 2013 5,280 2,635
Additional paid-in capital 6,478 9,113
Deficit accumulated during the development stage (13,008) (11,748)
TOTAL STOCKHOLDERS' DEFICIT (1,250)  
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT      
XML 26 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
6 Months Ended
Mar. 31, 2014
Organization And Summary Of Significant Accounting Policies [Abstract]  
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 1
-
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
 
(a)
Organization and Business:
 
Infinity Real Estate Holdings Corporation (formally known as Accelerated Acquisitions XVI, Inc.) (the "Company") was incorporated in the state of Delaware on October 21, 2011 for the purpose of raising capital that is intended to be used in connection with its business plan which may include a possible merger, acquisition or other business combination with an operating business.
 
On July 23, 2012, Sole Comfort Shoes, Inc. ("Purchaser") agreed to acquire 23,350,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. At the same time, Accelerated Venture Partners, LLC agreed to tender 3,500,000 of their 5,000,000 shares of the Company's common stock par value $0.0001 for cancellation. Following these transactions, Sole Comfort Shoes, Inc. owned approximately 94% of the Company's 24,850,000 issued and outstanding shares of common stock par value $0.0001 and the interest of Accelerated Venture Partners, LLC was reduced to approximately 6% of the total issued and outstanding shares. Simultaneously with the share purchase, Timothy Neher resigned from the Company's Board of Directors and Onkar Dhaliwal was simultaneously appointed to the Company's Board of Directors. Such action represents a change of control of the Company. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares.
 
On September 3, 2013, pursuant to Article V, Section 5.3 of the Company's by-laws the Board of Directors authorized Sole Comfort Shoes, Inc. the Company's majority stockholder to transfer 23,350,000 shares (100% of its holdings) of the Company's common stock having a ($0.0001) par value to Infinity Financial Group, Inc.  Following the transaction, Infinity Financial Group, Inc. owns approximately 88.61% of the Company's 26,350,000 issued and outstanding shares of common stock have a ($0.0001) par value Simultaneously with the share transfer, Onkar Dhaliwal resigned as the Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer and David Lavoie was simultaneously appointed to be Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer.  Such action represents a change of control of the Company. Concurrent with the transfer of the shares, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to "Infinity Real Estate Holdings Corporation".
 
On September 3, 2013, a meeting of the shareholders holding a majority of voting shares consented in writing in lieu of a shareholder meeting as provided for under Article I, Section 1.1 of the By-laws, and approved the amendment of its articles of incorporation authorizing the name of the Corporation to be changed from "Accelerated Acquisition XVI, Inc." to "Infinity Real Estate Corporation" and further approved the increase of authorized common stock to 200,000,000 shares having a ($0.0001) par value and 10,000,000 shares of preferred stock having a ($0.0001) par value, and further approved an amendment setting forth the name and address of the appointed director of the corporation to David Lavoie. The amendment was duly adopted in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.
 
 On March 1, 2014, Infinity Real Estate Holdings Corporationentered into a five year Executive Employment Agreement with its Chief Executive Officer David Lavoie. Pursuant to the agreement, Mr. Lavoie shall be responsible for performing the duties and responsibilities of Chief Executive Officer.  The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $240,000.00 USD. The Executive's salary shall be reviewed annually by the Board of Directors of the Company.  The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.
On March 1, 2014, Infinity Real Estate Holdings Corporationentered into a five year Executive Employment Agreement with its President Frederick E. Apple, Jr. Pursuant to the agreement, Mr. Apple shall be responsible for performing the duties and responsibilities of President.  The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $180,000.00 USD. The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.
 
On March 1, 2014, Infinity Real Estate Holdings Corporationentered into a five year Executive Employment Agreement with its Chief Operations Officer Thomas Howell. Pursuant to the agreement, Mr. Howell shall be responsible for performing the duties and responsibilities of Chief Operations Officer.  The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $180,000.00 USD. The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.
 
On March 4, 2014 Rising Tide Holdings, LLC ("Purchaser") agreed to acquire 23,350,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. Following this transaction, Rising Tide Holdings, LLC owned approximately 44.30% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001. Simultaneously with the share purchase, David Lavoie resigned as the Company's President and Frederick E. Apple, Jr. was simultaneously appointed as President and to the Company's Board of Directors, furthermore, Thomas Howell was simultaneously appointed as Chief Operations Officer and to the Company's Board of Directors. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares.
 
Prior to the purchase of the shares, the Purchaser was not affiliated with the Company. However, the Purchaser will be deemed an affiliate of the Company after the share purchase as a result of their stock ownership interest in the Company. The purchase of the shares by the Purchaser was completed pursuant to written Subscription Agreements with the Company.  The purchase was not subject to any other terms and conditions other than the sale of the shares in exchange for the cash payment.
 
On March 4, 2014 Accelerated Venture Partners, LLC. an affiliate of the Company agreed to acquire 3,000,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. The Company was granted a repurchase option for 1,500,000 of the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the Consulting Services Agreement entered into Accelerated Venture Partners, LLC on July 23, 2012. Following these transactions and current holdings, Accelerated Venture Partners, LLC owned approximately 11.38% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001.
 
On March 13, 2014, Infinity Real Estate Holdings Corporationentered into a five year Executive Employment Agreement with Trevor Erridge. Pursuant to the agreement, Mr. Erridge shall be responsible for performing the duties and responsibilities of Chief Financial Officer, Principal Accounting Officer and Treasurer.  The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of $240,000.00 USD and was granted 100,000 shares of common stock at a price of .0001per share, the shares are restricted from resale for twelve months. The Executive's salary shall be reviewed annually by the Board of Directors of the Company. The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.
 
The Company is currently in the development stage. All activities of the Company to date relate to its organization, initial funding and share issuances.
 
(b)
Basis of Presentation – Development Stage and Going Concern
 
The Company has not earned any revenue from operations since inception. Accordingly, the Company's activities have been accounted for as those of a "Development Stage Enterprise" as set forth in ASC 915, "Development Stage Entities." Among the disclosures required by ASC 915, are that the Company's financial statements be identified as those of a development stage company, and that the statements of operations, stockholders' equity and cash flows disclose activity since the date of the Company's inception.
 
The Company sustained operating losses and accumulated deficit of $13,008 as of March 31, 2014. The Company's continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtain additional financing, as may be required.
 
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company's ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.
                                               
The financial statements have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments) which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the audited financial statements and notes for the year ended September 30, 2013 included in our Annual Report on Form 10-K. The results of the three month period ended March 31, 2014 is not necessarily indicative of the results to be expected for the full year ending September 30, 2014.
 
 (c)
Use of Estimates:
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
 
(d)
Cash and Cash Equivalents
           
For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.  The Company had no cash equivalent at March 31, 2014 and no cash at March 31, 2013.
 
(e)
Loss per Common Share
 
Basic loss per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period.  The Company has incurred a loss during the current period, therefore any potentially dilutive shares are excluded, as they would be anti-dilutive. The Company does not have any potentially dilutive instruments for this reporting period.
 
(f)
Fair Value of Financial Instruments
 
The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 820-10, (formerly SFAS No.157), "Fair Value Measurements and Disclosures" for financial assets and liabilities. FASB ASC 820-10 provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements. FASB ASC 820-10 defines fair value as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. FASB ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available.
 
-  
Level 1:  Quoted prices in active markets for identical assets or liabilities.
-  
Level 2:  Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities.
-  
Level 3:  Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
 
The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments.
 
(g)
Recent Accounting Pronouncements
 
Adopted
 
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive (ASU 2013-02). This guidance is the culmination of the FASB's deliberation on reporting reclassification adjustments from accumulated other comprehensive income (AOCI). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income. However, the amendments require disclosure of amounts reclassified out of AOCI in its entirety, by component, on the face of the statement of operations or in the notes thereto. Amounts that are not required to be reclassified in their entirety to net income must be cross-referenced to other disclosures that provide additional detail. The adoption of this update did not have a material impact on the financial statements.
 
Not Adopted
 
In April 2013, the FASB issued ASU No. 2013-07, Presentation of Financial Statements (Top 205): Liquidation Basis of Accounting. The objective of ASU No. 2013-07 is to clarify when an entity should apply the liquidation basis of accounting and to provide principles for the measurement of assets and liabilities under the liquidation basis of accounting, as well as any required disclosures. The amendments in this standard is effective prospectively for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein. We are evaluating the effect, if any, adoption of ASU No. 2013-07 will have on our financial statements
 
In December 2011, the FASB issued ASU No. 2011-11: Balance Sheet (topic 210):  Disclosures about Offsetting Assets and Liabilities, which requires new disclosure requirements mandating that entities disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions subject to an agreement similar to a master netting arrangement.  In addition, the standard requires disclosure of collateral received and posted in connection with master netting agreements or similar arrangements.  This ASU is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods.  Entities should provide the disclosures required retrospectively for all comparative periods presented.  We are currently evaluating the impact of adopting ASU 2011-11 on the financial statements.
 
Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the United States Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future financial statements.
XML 27 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
COMMON STOCK (Details Textuals 4) (Infinity Financial Group, Inc., Executive employment agreement, Trevor Erridge, USD $)
0 Months Ended
Mar. 13, 2014
Infinity Financial Group, Inc. | Executive employment agreement | Trevor Erridge
 
Class of Stock [Line Items]  
Period of executive employment Agreement 5 years
Annual gross base salary $ 240,000.00
Granted shares of common stock 100,000
Price per share $ 0.0001
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RELATED PARTY TRANSACTIONS
6 Months Ended
Mar. 31, 2014
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
NOTE 2
 -
 RELATED PARTY TRANSACTIONS
 
On October 21, 2011(inception) the Registrant sold 5,000,000 shares of Common Stock to Accelerated Venture Partners, LLC for an aggregate investment of $2,000.00.  The Registrant sold these shares of Common Stock under the exemption from registration provided by Section 4(2) of the Securities Act.
 
On July 23, 2012, Sole Comfort Shoes, Inc. ("Purchaser") agreed to acquire 23,350,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. At the same time, Accelerated Venture Partners, LLC agreed to tender 3,500,000 of their 5,000,000 shares of the Company's common stock par value $0.0001 for cancellation. Following these transactions, Sole Comfort Shoes, Inc. owned approximately 94% of the Company's 24,850,000 issued and outstanding shares of common stock par value $0.0001 and the interest of Accelerated Venture Partners, LLC was reduced to approximately 6% of the total issued and outstanding shares. Simultaneously with the share purchase, Timothy Neher resigned from the Company's Board of Directors and Onkar Dhaliwal was simultaneously appointed to the Company's Board of Directors. Such action represents a change of control of the Company. The Purchaser used their working capital to acquire the Shares. The Purchaser did not borrow any funds to acquire the Shares.
 
Prior to the purchase of the shares, the Purchaser was not affiliated with the Company. However, the Purchaser will be deemed an affiliate of the Company after the share purchase as a result of their stock ownership interest in the Company. The purchase of the shares by the Purchaser was completed pursuant to written Subscription Agreements with the Company. The purchase was not subject to any other terms and conditions other than the sale of the shares in exchange for the cash payment. Concurrent with the sale of the shares, the Company will file a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to "Sole Comfort Shoes, Inc.".
 
On July 23, 2012, the Company entered into a Consulting Services Agreement with AVP. The agreement requires AVP to provide the Company with certain advisory services that include reviewing the Company's business plan, identifying and introducing prospective financial and business partners, and providing general business advice regarding the Company's operations and business strategy in consideration of (a) an option granted by the Company to AVP to purchase 1,500,000 shares of the Company's common stock at a price of $0.0001 per share (the "AVP Option") (which was immediately exercised by the holder) subject to a repurchase option granted to the Company to repurchase the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the agreement subject to the following milestones:
 
Milestone 1 – Company's right of repurchase will lapse with respect to 60% of the shares upon securing $5 million in available cash from funding;
 
Milestone 2 – Company's right of repurchase will lapse with respect to 40% of the Shares upon securing $10 million in available cash (inclusive of any amounts attributable to Milestone 1);
 
and (b) cash compensation at a rate of $33,333 per month. The payment of the cash compensation is subject to the Company's achievement of certain designated milestones, specifically, cash compensation of $400,000 is due consultant upon the achievement of Milestone 1, and an additional $400,000 is due upon the achievement of Milestone 2. Upon achieving each Milestone, the cash compensation is to be paid to consultant in the amount then due at the rate of $66,667 per month. The total cash compensation to be received by the consultant is not to exceed $800,000 unless the Company receives an amount of funding in excess of the amount specified in Milestone 2. If the Company receives equity or debt financing that is an amount less than Milestone 1, in between any of the above Milestones or greater than the above Milestones, the cash compensation earned by the Consultant under this Agreement will be prorated according to the above Milestones. The Company also has the option to make a lump sum payment to AVP in lieu of the monthly cash payments.
 
 On September 3, 2013, pursuant to Article V, Section 5.3 of the Company's by-laws the Board of Directors authorized Sole Comfort Shoes, Inc. the Company's majority stockholder to transfer 23,350,000 shares (100% of its holdings) of the Company's common stock having a ($0.0001) par value to Infinity Financial Group, Inc.  Following the transaction, Infinity Financial Group, Inc. owns approximately 88.61% of the Company's 26,350,000 issued and outstanding shares of common stock have a ($0.0001) par value Simultaneously with the share transfer, Onkar Dhaliwal resigned as the Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer and David Lavoie was simultaneously appointed to be Company's Chairman of the Board, President, Chief Executive Officer, Secretary and Treasurer.  Such action represents a change of control of the Company. Concurrent with the transfer of the shares, the Company filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of Delaware in order to change its name to "Infinity Real Estate Holdings Corporation".
 
On September 3, 2013, a meeting of the shareholders holding a majority of voting shares consented in writing in lieu of a shareholder meeting as provided for under Article I, Section 1.1 of the By-laws, and approved the amendment of its articles of incorporation authorizing the name of the Corporation to be changed from "Accelerated Acquisition XVI, Inc." to "Infinity Real Estate Corporation" and further approved the increase of authorized common stock to 200,000,000 shares having a ($0.0001) par value and 10,000,000 shares of preferred stock having a ($0.0001) par value, and further approved an amendment setting forth the name and address of the appointed director of the corporation to David Lavoie. The amendment was duly adopted in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.
 
On March 1, 2014, Infinity Real Estate Holdings Corporation entered into a five year Executive Employment Agreement with its Chief Executive Officer David Lavoie the president and CEO of Infinity Financial Group, Inc., a shareholder of the Company. Pursuant to the agreement, Mr. Lavoie shall be responsible for performing the duties and responsibilities of Chief Executive Officer.  The Executive agrees that the Executive's position title, assignments, duties, responsibilities, and reporting arrangements may be changed from time to time, with reasonable notice, by the Company, at its sole discretion. Subject to the terms and conditions of the Agreement, the Company shall pay the Executive an annual gross base salary of$240,000.00 USD. The Executive's salary shall be reviewed annually by the Board of Directors of the Company.  The Salary will be paid in accordance with the Company's payroll policies and procedures and is subject to all appropriate traditional and normal statutory and benefit deductions. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company's Incentive Compensation Plan, as amended from time to time and as outlined in the Company's Employment Policies and Procedures.
 
On March 4, 2014 Accelerated Venture Partners, LLC. an affiliate of the Company agreed to acquire 3,000,000 shares of the Company's common stock par value $0.0001 for a price of $0.0001 per share. The Company was granted a repurchase option for 1,500,000 of the shares at a price of $0.0001 per share in the event the Company fails to complete funding as detailed in the Consulting Services Agreement entered into Accelerated Venture Partners, LLC on July 23, 2012. Following these transactions and current holdings, Accelerated Venture Partners, LLC owned approximately 11.38% of the Company's 52,700,000 issued and outstanding shares of common stock par value $0.0001.
 
The officers and directors of the Company are involved in other business activities and may, in the future, become involved in additional business opportunities that become available.  A conflict may arise in selecting between the Company and other business interests. The Company has not formulated a policy for the resolution of such conflicts.
 
We depend on our officers and directors, to provide the Company with the necessary funds to implement our business plan, as necessary.  The Company does not have a funding commitment or any written agreement for our future required cash needs.
 
The Company does not own or lease property or lease office space. The office space used by the Company was arranged by our officers and directors of the Company to use at no charge.
 
The above amount is not necessarily indicative of the amount that would have been incurred had a comparable transaction been entered into with independent parties.
 
Accelerated Venture Partners, LLC, the only shareholder of the Company, paid $6,596 operating expenses on behalf of the Company and re-invoice the full amount of expenses to the Company for the year ended September 30, 2013.
 
Accelerated Venture Partners, LLC, advances $6,588 to the Company and forgive the full amount during the year ended September 30, 2013.

XML 31 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED BALANCE SHEETS (Parentheticals) (USD $)
Mar. 31, 2014
Sep. 30, 2013
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized 10,000,000 10,000,000
Preferred stock, shares issued      
Preferred stock, shares outstanding      
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized 200,000,000 200,000,000
Common stock, shares issued 52,800,000 26,350,000
Common stock, shares outstanding 52,800,000 26,350,000
XML 32 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
RELATED PARTY TRANSACTIONS (Detail Textuals 4) (USD $)
0 Months Ended 1 Months Ended 12 Months Ended
Mar. 31, 2014
Mar. 04, 2014
Sep. 30, 2013
Sep. 03, 2013
Mar. 04, 2014
Accelerated Venture Partners, LLC
Jul. 23, 2012
Accelerated Venture Partners, LLC
Sep. 30, 2013
Accelerated Venture Partners, LLC
Related Party Transaction [Line Items]              
Number of shares acquired         3,000,000    
Price per shares issued to purchaser         $ 0.0001    
Repurchase of option for shares         1,500,000 1,500,000  
Price per share         $ 0.0001 $ 0.0001  
Ownership interest of acquirer         11.38% 6.00%  
Common stock, shares issued 52,800,000 52,700,000 26,350,000        
Common stock, shares outstanding 52,800,000 52,700,000 26,350,000        
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001  
Operating expenses             $ 6,596
Advances to the company             $ 6,588
XML 33 R1.htm IDEA: XBRL DOCUMENT v2.4.0.8
Document and Entity Information
6 Months Ended
Mar. 31, 2014
May 14, 2014
Document And Entity Information [Abstract]    
Entity Registrant Name INFINITY REAL ESTATE HOLDINGS Corp  
Entity Central Index Key 0001534628  
Current Fiscal Year End Date --09-30  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   52,800,000
Document Type 10-Q  
Document Period End Date Mar. 31, 2014  
Amendment Flag false  
Document Fiscal Year Focus 2014  
Document Fiscal Period Focus Q2  
XML 34 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
COMMON STOCK (Detail Textuals) (USD $)
0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 1 Months Ended
Mar. 31, 2014
Mar. 04, 2014
Sep. 30, 2013
Sep. 03, 2013
Mar. 04, 2014
Sole Comfort Shoes, Inc. ("Purchaser")
Jul. 23, 2012
Sole Comfort Shoes, Inc. ("Purchaser")
Sep. 03, 2013
Sole Comfort Shoes, Inc. ("Purchaser")
Mar. 04, 2014
Accelerated Venture Partners, LLC
Jul. 23, 2012
Accelerated Venture Partners, LLC
Mar. 31, 2014
Common Stock
Sep. 30, 2013
Common Stock
Oct. 21, 2011
Common Stock
Founder
Class of Stock [Line Items]                        
Common stock, shares authorized 200,000,000   200,000,000 200,000,000           200,000,000    
Common stock, shares issued 52,800,000 52,700,000 26,350,000   52,700,000 24,850,000         26,350,000  
Common stock, shares outstanding 52,800,000 52,700,000 26,350,000   52,700,000 24,850,000         26,350,000  
Number of shares issued for cash                       5,000,000
Value of shares issued for cash                       $ 2,000
Number of shares acquired         3,000,000 23,350,000   3,000,000        
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001      
Price per shares issued to purchaser         $ 0.0001 $ 0.0001   $ 0.0001        
Number of shares held by related party                 5,000,000      
Agreed to tender shares (in shares)                 3,500,000      
Percentage of ownership interest by parent           94.00%            
Percentage of ownership interest by noncontrolling owners                 6.00%      
XML 35 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 6 Months Ended 29 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Income Statement [Abstract]          
Revenues               
Operating expenses          
General and administrative 1,260 40 1,260 6,644 13,008
Operating loss 1,260 40 1,260 6,644 13,008
Net loss $ (1,260) $ (40) $ (1,260) $ (6,644) $ (13,008)
Basic and diluted net loss per share (in dollars per share) $ 0.00 $ 0.00 $ 0.00 $ 0.00  
Shares used in basic and diluted net loss per share calculation (in shares) 52,800,000 26,350,000 52,800,000 26,350,000  
XML 36 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals 1) (USD $)
0 Months Ended
Mar. 31, 2014
Sep. 30, 2013
Mar. 01, 2014
Executive employment agreement
Infinity Financial Group, Inc.
David Lavoie
Mar. 01, 2014
Executive employment agreement
Infinity Financial Group, Inc.
Frederick E. Apple, Jr.
Mar. 01, 2014
Executive employment agreement
Infinity Financial Group, Inc.
Thomas Howell
Mar. 13, 2014
Executive employment agreement
Infinity Financial Group, Inc.
Trevor Erridge
Organization And Summary Of Significant Accounting Policies [Line Items]            
Period of executive employment Agreement     5 years 5 years 5 years 5 years
Annual gross base salary     $ 240,000.00 $ 180,000.00 $ 180,000.00 $ 240,000.00
Granted shares of common stock           100,000
Price per share           $ 0.0001
Deficit accumulated during the development stage $ 13,008 $ 11,748        
XML 37 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) (USD $)
0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended
Mar. 31, 2014
Mar. 04, 2014
Sep. 30, 2013
Sep. 03, 2013
Sep. 03, 2013
Infinity Financial Group, Inc.
Mar. 04, 2014
Sole Comfort Shoes, Inc. ("Purchaser")
Sep. 03, 2013
Sole Comfort Shoes, Inc. ("Purchaser")
Jul. 23, 2012
Sole Comfort Shoes, Inc. ("Purchaser")
Sep. 03, 2013
Sole Comfort Shoes, Inc. ("Purchaser")
Infinity Financial Group, Inc.
Mar. 04, 2014
Accelerated Venture Partners, LLC
Jul. 23, 2012
Accelerated Venture Partners, LLC
Mar. 04, 2014
Rising Tide Holdings Llc
Organization And Summary Of Significant Accounting Policies [Line Items]                        
Number of shares acquired           3,000,000   23,350,000   3,000,000   23,350,000
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001   $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001
Price per shares issued to purchaser           $ 0.0001   $ 0.0001   $ 0.0001   $ 0.0001
Number of shares cancelled which are held by related party                     3,500,000  
Number of shares held by related party                     5,000,000  
Ownership interest of acquirer           11.38%   94.00%   11.38% 6.00% 44.30%
Common stock, shares issued 52,800,000 52,700,000 26,350,000   26,350,000 52,700,000   24,850,000        
Common stock, shares outstanding 52,800,000 52,700,000 26,350,000   26,350,000 52,700,000   24,850,000        
Number of shares transferred             23,350,000   23,350,000      
Percentage of shares transferred             100.00%   100.00%      
Percentage of ownership interest by parent         88.61%     94.00%        
Common stock, shares authorized 200,000,000   200,000,000 200,000,000                
Preferred stock, shares authorized 10,000,000   10,000,000 10,000,000                
Preferred stock, par value (in dollars per share) $ 0.0001   $ 0.0001 $ 0.0001                
Repurchase of option for shares                   1,500,000 1,500,000  
Price per share                   $ 0.0001 $ 0.0001  
XML 38 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
SUBSEQUENT EVENTS (Detail Textuals) (Subsequent Event, AVP Consulting Services Agreement, USD $)
1 Months Ended
Apr. 28, 2014
Subsequent Event | AVP Consulting Services Agreement
 
Subsequent Event [Line Items]  
Stock repurchase percentage 5.00%
Number of shares repurchase 3,000,000
Price per shares repurchase $ 0.0001
Value of shares repurchase $ 300.00
XML 39 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
COMMON STOCK (Details Textuals 1) (USD $)
In Millions, except Share data, unless otherwise specified
0 Months Ended 1 Months Ended
Mar. 04, 2014
Jul. 23, 2012
Consulting Services Agreement | Milestone 1
   
Class of Stock [Line Items]    
Percentage of repurchase lapse   60.00%
Available cash from funding Milestone   $ 5
Consulting Services Agreement | Milestone 2
   
Class of Stock [Line Items]    
Percentage of repurchase lapse   40.00%
Available cash from funding Milestone   $ 10
Accelerated Venture Partners, LLC
   
Class of Stock [Line Items]    
Repurchase of option for shares 1,500,000 1,500,000
Price per share $ 0.0001 $ 0.0001
Repurchase shares price per shares   $ 0.0001
Accelerated Venture Partners, LLC | Consulting Services Agreement
   
Class of Stock [Line Items]    
Repurchase of option for shares   1,500,000
Price per share   $ 0.0001
XML 40 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
RELATED PARTY TRANSACTIONS (Detail Textuals 2) (USD $)
0 Months Ended
Mar. 31, 2014
Mar. 04, 2014
Sep. 30, 2013
Sep. 03, 2013
Sep. 03, 2013
Sole Comfort Shoes, Inc. ("Purchaser")
Mar. 04, 2014
Sole Comfort Shoes, Inc. ("Purchaser")
Jul. 23, 2012
Sole Comfort Shoes, Inc. ("Purchaser")
Mar. 04, 2014
Accelerated Venture Partners, LLC
Jul. 23, 2012
Accelerated Venture Partners, LLC
Sep. 03, 2013
Infinity Financial Group, Inc.
Related Party Transaction [Line Items]                    
Number of shares transferred         23,350,000          
Percentage of shares transferred         100.00%          
Percentage of ownership interest by parent             94.00%     88.61%
Common stock, shares issued 52,800,000 52,700,000 26,350,000     52,700,000 24,850,000     26,350,000
Common stock, shares outstanding 52,800,000 52,700,000 26,350,000     52,700,000 24,850,000     26,350,000
Common stock, shares authorized 200,000,000   200,000,000 200,000,000            
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001
Preferred stock, shares authorized 10,000,000   10,000,000 10,000,000            
Preferred stock, par value (in dollars per share) $ 0.0001   $ 0.0001 $ 0.0001            
XML 41 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
RELATED PARTY TRANSACTIONS (Detail Textuals) (USD $)
0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended
Mar. 31, 2014
Mar. 04, 2014
Sep. 30, 2013
Sep. 03, 2013
Mar. 04, 2014
Sole Comfort Shoes, Inc. ("Purchaser")
Jul. 23, 2012
Sole Comfort Shoes, Inc. ("Purchaser")
Sep. 03, 2013
Sole Comfort Shoes, Inc. ("Purchaser")
Mar. 04, 2014
Accelerated Venture Partners, LLC
Jul. 23, 2012
Accelerated Venture Partners, LLC
Oct. 21, 2011
Accelerated Venture Partners, LLC
Related Party Transaction [Line Items]                    
Issuance of common stock - Founders for cash, Shares                   5,000,000
Issuance of common stock - Founders for cash, value                   $ 2,000.00
Number of shares acquired         3,000,000 23,350,000   3,000,000    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001  
Price per shares issued to purchaser         $ 0.0001 $ 0.0001   $ 0.0001    
Agreed to tender shares (in shares)                 3,500,000  
Number of shares held by related party                 5,000,000  
Percentage of ownership interest by noncontrolling owners         11.38% 94.00%   11.38% 6.00%  
Common stock, shares issued 52,800,000 52,700,000 26,350,000   52,700,000 24,850,000        
Common stock, shares outstanding 52,800,000 52,700,000 26,350,000   52,700,000 24,850,000        
XML 42 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
RELATED PARTY TRANSACTIONS (Detail Textuals 1) (USD $)
0 Months Ended 1 Months Ended
Mar. 04, 2014
Jul. 23, 2012
Consulting Services Agreement
   
Related Party Transaction [Line Items]    
Cash compensation due to related party   $ 66,667
Consulting Services Agreement | Milestone 1
   
Related Party Transaction [Line Items]    
Percentage of repurchase lapse   60.00%
Available cash from funding Milestone   5,000,000
Compensation rate per month   33,333
Cash compensation due upon achievement of milestone   400,000
Consulting Services Agreement | Milestone 2
   
Related Party Transaction [Line Items]    
Percentage of repurchase lapse   40.00%
Available cash from funding Milestone   10,000,000
Cash compensation due upon achievement of milestone   400,000
Maximum cash compensation to consultant   $ 800,000
Accelerated Venture Partners, LLC
   
Related Party Transaction [Line Items]    
Repurchase of option for shares 1,500,000 1,500,000
Price per share $ 0.0001 $ 0.0001
Repurchase shares price per shares   $ 0.0001
Accelerated Venture Partners, LLC | Consulting Services Agreement
   
Related Party Transaction [Line Items]    
Repurchase of option for shares   1,500,000
Price per share   $ 0.0001
XML 43 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
RELATED PARTY TRANSACTIONS (Detail Textuals 3) (Infinity Financial Group, Inc., Executive employment agreement, David Lavoie, USD $)
0 Months Ended
Mar. 01, 2014
Infinity Financial Group, Inc. | Executive employment agreement | David Lavoie
 
Related Party Transaction [Line Items]  
Period of executive employment Agreement 5 years
Annual gross base salary $ 240,000.00
XML 44 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
COMMON STOCK (Details Textuals 3) (USD $)
0 Months Ended 1 Months Ended
Mar. 31, 2014
Mar. 04, 2014
Sep. 30, 2013
Sep. 03, 2013
Mar. 04, 2014
Rising Tide Holdings Llc
Mar. 04, 2014
Accelerated Venture Partners, LLC
Jul. 23, 2012
Accelerated Venture Partners, LLC
Class of Stock [Line Items]              
Number of shares acquired         23,350,000 3,000,000  
Price per shares issued to purchaser         $ 0.0001 $ 0.0001  
Repurchase of option for shares           1,500,000 1,500,000
Price per share           $ 0.0001 $ 0.0001
Percentage of ownership interest by noncontrolling owners         44.30% 11.38% 6.00%
Common stock, shares issued 52,800,000 52,700,000 26,350,000        
Common stock, shares outstanding 52,800,000 52,700,000 26,350,000        
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001
XML 45 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
6 Months Ended 29 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
OPERATING ACTIVITIES:      
Net loss $ (1,260) $ (6,644) $ (13,008)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 10   10
Changes in operating assets and liabilities:      
Accrued expenses 1,250   1,250
Net cash used in operating activities    (6,644) (11,748)
FINANCING ACTIVITIES:      
Proceeds from the issuance of common stock     4,335
Shareholder advances   6,548 7,413
Change in bank overdraft   40  
Net cash provided by financing activities    6,588 11,748
Net increase (decrease) in cash    (56)   
Cash at beginning of period    56  
Cash at end of period         
XML 46 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
6 Months Ended
Mar. 31, 2014
Accounting Policies [Abstract]  
Basis of Presentation - Development Stage and Going Concern
(b)
Basis of Presentation – Development Stage and Going Concern
 
The Company has not earned any revenue from operations since inception. Accordingly, the Company's activities have been accounted for as those of a "Development Stage Enterprise" as set forth in ASC 915, "Development Stage Entities." Among the disclosures required by ASC 915, are that the Company's financial statements be identified as those of a development stage company, and that the statements of operations, stockholders' equity and cash flows disclose activity since the date of the Company's inception.
 
The Company sustained operating losses and accumulated deficit of $13,008 as of March 31, 2014. The Company's continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtain additional financing, as may be required.
 
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company's ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.
                                               
The financial statements have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments) which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the audited financial statements and notes for the year ended September 30, 2013 included in our Annual Report on Form 10-K. The results of the three month period ended March 31, 2014 is not necessarily indicative of the results to be expected for the full year ending September 30, 2014.
Use of Estimates
 (c)
Use of Estimates:
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents
(d)
Cash and Cash Equivalents
           
For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.  The Company had no cash equivalent at March 31, 2014 and no cash at March 31, 2013.
Loss per Common Share
(e)
Loss per Common Share
 
Basic loss per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period.  The Company has incurred a loss during the current period, therefore any potentially dilutive shares are excluded, as they would be anti-dilutive. The Company does not have any potentially dilutive instruments for this reporting period.
Fair Value of Financial Instruments
(f)
Fair Value of Financial Instruments
 
The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 820-10, (formerly SFAS No.157), "Fair Value Measurements and Disclosures" for financial assets and liabilities. FASB ASC 820-10 provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements. FASB ASC 820-10 defines fair value as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. FASB ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs, where available.
 
-  
Level 1:  Quoted prices in active markets for identical assets or liabilities.
-  
Level 2:  Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities.
-  
Level 3:  Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
 
The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity of these instruments.
Recent Accounting Pronouncements
(g)
Recent Accounting Pronouncements
Adopted
 
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive (ASU 2013-02). This guidance is the culmination of the FASB's deliberation on reporting reclassification adjustments from accumulated other comprehensive income (AOCI). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income. However, the amendments require disclosure of amounts reclassified out of AOCI in its entirety, by component, on the face of the statement of operations or in the notes thereto. Amounts that are not required to be reclassified in their entirety to net income must be cross-referenced to other disclosures that provide additional detail. The adoption of this update did not have a material impact on the financial statements.
  
Not Adopted
 
In April 2013, the FASB issued ASU No. 2013-07, Presentation of Financial Statements (Top 205): Liquidation Basis of Accounting. The objective of ASU No. 2013-07 is to clarify when an entity should apply the liquidation basis of accounting and to provide principles for the measurement of assets and liabilities under the liquidation basis of accounting, as well as any required disclosures. The amendments in this standard is effective prospectively for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein. We are evaluating the effect, if any, adoption of ASU No. 2013-07 will have on our financial statements
 
In December 2011, the FASB issued ASU No. 2011-11: Balance Sheet (topic 210):  Disclosures about Offsetting Assets and Liabilities, which requires new disclosure requirements mandating that entities disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position as well as instruments and transactions subject to an agreement similar to a master netting arrangement.  In addition, the standard requires disclosure of collateral received and posted in connection with master netting agreements or similar arrangements.  This ASU is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods.  Entities should provide the disclosures required retrospectively for all comparative periods presented.  We are currently evaluating the impact of adopting ASU 2011-11 on the financial statements.
 
Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the United States Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future financial statements.
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COMMON STOCK (Details Textuals 2) (USD $)
0 Months Ended
Mar. 31, 2014
Mar. 04, 2014
Sep. 30, 2013
Sep. 03, 2013
Sep. 03, 2013
Sole Comfort Shoes, Inc. ("Purchaser")
Mar. 04, 2014
Sole Comfort Shoes, Inc. ("Purchaser")
Jul. 23, 2012
Sole Comfort Shoes, Inc. ("Purchaser")
Mar. 04, 2014
Accelerated Venture Partners, LLC
Jul. 23, 2012
Accelerated Venture Partners, LLC
Sep. 03, 2013
Infinity Financial Group, Inc.
Class of Stock [Line Items]                    
Number of shares transferred         23,350,000          
Percentage of shares transferred         100.00%          
Percentage of ownership interest by parent             94.00%     88.61%
Common stock, shares issued 52,800,000 52,700,000 26,350,000     52,700,000 24,850,000     26,350,000
Common stock, shares outstanding 52,800,000 52,700,000 26,350,000     52,700,000 24,850,000     26,350,000
Common stock, shares authorized 200,000,000   200,000,000 200,000,000            
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001 $ 0.0001
Preferred stock, shares authorized 10,000,000   10,000,000 10,000,000            
Preferred stock, par value (in dollars per share) $ 0.0001   $ 0.0001 $ 0.0001