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Quotes & Info
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| SSVE.OB > SEC Filings for SSVE.OB > Form 8-K on 29-Oct-2008 | All Recent SEC Filings |
29-Oct-2008
Entry into a Material Definitive Agreement, Completion of Acquisition o
On October 23, 2008, SupportSave Solutions, Inc. (the "Company"), through SupportSave Investments, LLC, a newly-formed, wholly-owned subsidiary, entered into an agreement with Countrywide Home Loans, Inc., to purchase an office building located in Boca Raton, Florida, for a purchase price of $250,900.
A down payment of $2,500 was made on the property and the balance is due at closing. The Company has a 10-day period in which to inspect and request repairs to the property. The closing is expected to occur within 30 days after the date of the agreement.
The Company's current intention is to acquire the property and hold it for future sale. We may also use the property to house staff on work visas, if we accomplish our intention of opening a small operations center in South Florida. The Company does not have any current arrangement or agreement with respect to the property.
The foregoing is only intended to be a summary of the terms of the Contract for Sale and Purchase and related addendums, and is not intended to be a complete discussion of such documents. Accordingly, the following is qualified in its entirety by reference to the full text of the Contract for Sale and Purchase and related addendums, which are annexed as an Exhibit to this Current Report on Form 8-K.
The information set forth in Item 1.01 of this Current Report on Form 8-K that relates to the completion of acquisition of assets is incorporated by reference into this Item 2.01.
Exhibit No. Description
10.1 Contract for Sale and Purchase dated October 23, 2008.
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