Skip to content
AnalystLens

Byrn, Inc. 8-K Report, Change in Control (Sep 28, 2020)

Reports
Leadership Changes·Corporate Changes·Exhibits & Filings
Filing Date
Filed September 28, 2020
Period End
September 23, 2020
Security
BRRN
In the record · 2020–202610-K910-Q108-K6

BRRN filed 9 annual reports (10-K), 10 quarterly reports (10-Q) and 6 current reports (8-K) between 2020 and 2026.

  1. Change in control8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed September 28, 2020. Cited figures are marked; the original filing is the authoritative source.

This 8-K filing by Quture International, Inc. (BRRN) on September 28, 2020, announces a significant change in control.

FiveT Capital Holding AG has acquired approximately 50.2% of the company's voting rights on a fully diluted basis through the purchase of 10,000,000 shares of Series A Convertible Preferred Stock for $265,000a. This transaction makes FiveT Capital Holding AG the new controlling shareholder. Concurrently, the filing details a complete overhaul of the company's leadership.

David Lazar has resigned from all officer and director positions, including CEO, CFO, President, and Secretary. Wieland Kreuder has been appointed as the new President, CEO, CFO, Treasurer, Secretary, and Chairman of the Board of Directors.

Mr. Kreuder brings extensive experience from FiveT Capital AG. Additionally, the company has amended its Certificate of Designation for Series A preferred stock, significantly altering its conversion and voting rights.

02—Key points

Key Highlights

  1. FiveT Capital Holding AG acquired a controlling stake (approx. 50.2% voting rights) in Quture International, Inc. for $265,000.
  2. David Lazar has resigned from all officer and director positions.
  3. Wieland Kreuder has been appointed as the new CEO, President, CFO, Treasurer, Secretary, and Chairman of the Board.
  4. Mr. Kreuder has over 13 years of experience with FiveT Capital AG.
  5. The company's Series A Convertible Preferred Stock conversion and voting rights have been significantly amended via a Certificate of Designation filed September 10, 2020.
  6. The transaction was a private sale of Series A Convertible Preferred Stock.

03—Questions

Frequently Asked Questions

  1. What was the primary purpose of this 8-K filing?

    The primary purpose of this 8-K filing is to report a change in control of Quture International, Inc. and the resignation and appointment of key officers and directors.

  2. Who is the new controlling shareholder and how did they gain control?

    FiveT Capital Holding AG is the new controlling shareholder. They gained control by purchasing 10,000,000 shares of Series A Convertible Preferred Stock from Custodian Ventures, LLC for $265,000, resulting in approximately 50.2% of the company's voting rights on a fully diluted basis.

  3. What are the key changes in the company's leadership?

    David Lazar has resigned from all officer and director roles. Wieland Kreuder has been appointed to take over all of Mr. Lazar's former positions, including CEO, President, CFO, Treasurer, Secretary, and Chairman of the Board.

  4. How will the Series A Convertible Preferred Stock rights be affected?

    A Certificate of Designation filed on September 10, 2020, has significantly changed the conversion and voting rights of the Series A preferred stock, changing them to 250 for each one share.

04—Continue

← View all 8-K filings