Company: FTSP
Filing Date: 2025-02-14
Form Type: 8-K
Source: 0001199835-25-000044
Chunk: 27

Company: FinTrade Sherpa, Inc.
Filing Date: 2025-02-14
Form: 8-K
Item: Item 2.01
Chunk 27
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 two completed fiscal years, and in which any related person
had or will have a direct or indirect material interest.

Reference
is made to the Arcterix Agreement and Debt Conversion Agreement set forth under Item 1.01 above, which disclosure is incorporated herein
by reference. Mr. Oliver Willett, a holder of more than 5.0% of our Common Stock after the Closing, has an ownership interest in Arcterix.

Parents
of the Company

Prior
to the Closing Date, LSG was the largest shareholder of the Company, owning 97,769,918 shares of Common Stock, which was equivalent to
80.84% of the Company’s voting securities. After the Closing Date, LSG owns 99,127,076 shares of Common Stock, which equals 28.38%
of the Company’s voting securities.

Director
Independence

Because
our Common Stock is not currently listed on a national securities exchange, we currently use the definition in NASDAQ Listing Rule 5605(a)(2)
for determining director independence, which provides that an “independent director” is a person other than an executive
officer or employee of the company or any other individual having a relationship which, in the opinion of the Company’s board of
directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. We have no independent
directors because our directors are also our executive officers.

Legal
Proceedings

We
are not a party to any pending legal proceeding which management believes is likely to result in a material liability and no such action
has been threatened against us, or, to the best of our knowledge, is contemplated.

Market
Price of and Dividends on the Registrant’s Common Equity and Related Stockholder Matters

Our
Common Stock is traded on pink sheets. As of February 4, 2025, we had 70 shareholders of record of our Common Stock. We have not declared
any cash dividends, nor do we have any plans to do so. Management anticipates that, for the foreseeable future, any available cash will
be needed to fund our operations.

Recent
Sales of Unregistered Securities

On
June 8, 2022, the Company entered into debt conversion agreements with three related parties pursuant to which the creditors converted
an aggregate of $2,601,207.55 in accrued, unpaid debt into 70,302,906 shares of the Company’s Common Stock at a price of $0.037