Other Information
−Removed: Not applicable.
−Removed: | December 31, 2019 Form 10-Q
+Added: On February 15, 2020, the Company signed a Share Subscription Agreement (“SSA”) with Evolve I, Inc., a Washington corporation (“Evolve”), to acquire approximately 20% of Evolve.
+Added: The Company entered into a Share Purchase Agreement (the “SPA”) on May 11, 2020 to acquire the remaining approximately 80% of Evolve that the Company did not own.
+Added: On May 12, 2020, the Company completed the SSA with Evolve by transferring partial consideration to Evolve.
+Added: As of June 30, 2020, the Company owns approximately 19.8% of Evolve.
+Added: As of June 30, 2020, the Company has not completed the acquisition of remaining ownership in Evolve as due diligence, such as audited financial statements for the last fiscal year, internal restructuring, among others, are pending.
+Added: While the Form 8-K was filed under both Item 1.01- Entry into a Material Definitive Agreement and Item 2.01- Completion of Acquisition or Disposition of Assets, as indicated in the Form 8-K, the closing of the Agreement is subject to certain closing conditions and accordingly the reference to Item 2.01- Completion of Acquisition or Disposition of Assets was inadvertently included.
+Added: There can be no assurance when or if the Company will be able to close the acquisition.
+Added: The delay in closing the acquisition is expected to have minimal impact on the Company’s revenue.
+Added: | June 30, 2020 Form 10-Q
Incorporated by Reference
Exhibit Description
+Added: Share Purchase Agreement, by and Among India Globalization Capital, Inc., Evolve I, Inc., Jay Bohannon, individually and as Sellers’ Representative, and The individual Sellers Listed on Exhibit A to the Company’s Current Report on Form 8-K filed on May 13, 2020.
Amended and Restated Articles of Incorporation.
10 unchanged sentences
** Furnished herewith.
−Removed: | December 31, 2019 Form 10-Q
+Added: | June 30, 2020 Form 10-Q
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
INDIA GLOBALIZATION CAPITAL, INC.
−Removed: February 10, 2020
+Added: August 19, 2020
/s/ Ram Mukunda
1 unchanged sentence
(Principal Executive Officer)
−Removed: February 10, 2020
+Added: August 19, 2020
/s/ Claudia Grimaldi
2 unchanged sentences
(Principal Financial Officer)
−Removed: | December 31, 2019 Form 10-Q
+Added: | June 30, 2020 Form 10-Q
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.