Company: ALDA
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001548123-25-000017
Chunk: 3

Company: ATLANTICA INC
Filing Date: 2025-03-18
Form: 10-K
Item: Item 1
Chunk 3
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 and the escrow agent thereunder
contemporaneously with the Stock Purchase Agreement, the Sellers placed in escrow an additional 423,928 shares of the Company’s
Common Stock then owned by them (the “ Escrow Shares”), which at the time represented all but 70 of the remaining shares of
the Company’s Common Stock owned by the Sellers. Pursuant to the Reset Agreement, if, during the five-year period following
June 29, 2007 (the “ Acquisition Period”), the Company acquired one or more companies having a combined enterprise value of
at least $10 million (a “ Threshold Acquisition”), the Escrow Shares would reset, at that time, to a number of newly-issued
shares of the Company’s Common Stock that would represent (collectively with the 70 shares previously retained by the Sellers) 5%
of the Company’s then fully-diluted Common Stock. If a Threshold Acquisition did not occur during the Acquisition Period, all of
the Escrow Shares would be released to the Sellers without any reissuance or adjustment in their amount.

A Threshold Acquisition by the Company did not occur during the Acquisition
Period and, as a result, the Company subsequently received the required notice from the Sellers’ Representative requesting the release
of the Escrow Shares to the Sellers in accordance with the terms of the Reset Agreement. Accordingly, on November 12, 2012, all of the
Escrow Shares were released to the Sellers without any reissuance or adjustment in their amount.

See the 8-K Current Report dated June 29, 2007 and
filed with the Securities and Exchange Commission on July 3, 2007, and see the Schedule 14F-1 Information Statement filed with the Securities
and Exchange Commission on July 3, 2007 and mailed to our stockholders on or about July 5, 2007. See Part IV, Item 15 of this Report.

Description of Business

We are currently seeking potential assets, property or businesses to acquire,
in a business combination, by reorganization, merger or acquisition. We have had no material business operations since March 7, 1997.
Our plan of operation for the next 12 months is to: (i) consider guidelines of industries in which we may have an interest; (ii) adopt
a business plan regarding engaging in the business of any selected industry; and (iii) to commence operations through funding and/or the
acquisition or business combination with a