UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

________________

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 2, 2020

 

AMERITRUST CORPORATION

(formerly known as Gryphon Resources, Inc.)

 (Name of small business in its charter)

_____________________________________


Nevada

 

000-53371

 

98-0465540

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)



 

(Address of principal executive offices)

 

3512 Desert Mesa Road

Roanoke, Texas 76262

 

Registrant’s telephone number

315-254-8553

  

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[ ]     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 

[ ]     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 

 

[ ]     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[ ]     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company [X]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  [  ]

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). [   ]  Yes [X]  No

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Item 2.01- Completion of Acquisition or Disposition of Assets

On August 28, 2020 Ameritrust Corporation, a Wyoming Corporation ["Ameritrust"] merged with Ameritrust Corporation, a Georgia corporation ["AMGA"].  Ameritrust is a wholly owned subsidiary of AMGA.  In accordance with the terms of the Merger Agreement between the companies AMGA shareholders received one share of common stock of Ameritrust for each share of AMGA that they held. Ameritrust is the surviving corporation in the merger.

Ameritrust is a real estate holding, developing and operating company.

Certain statements contained in this current report on Form 8-K are forward-looking statements and are based on future expectations, plans and prospects for Ameritrust’s business and operations and involve a number of risks and uncertainties. Ameritrust’s forward-looking statements in this report are made as of the date hereof and Ameritrust disclaims any duty to supplement, update or revise such statements on a going forward basis, whether as a result of subsequent developments, change, expectations or otherwise. In connection with the "safe harbour" provision of the Private Securities Litigation Reform Act of 1995 Ameritrust is identifying certain forward-looking information regarding, among other things, the merger of AMGA into Ameritrust, which is a wholly owned subsidiary of Ameritrust. Actual events or results may differ materially from those contained in these forward-looking statements. Important factors that could cause further events or results to vary from those addressed in the forward-looking statements include, without limitation, risks and uncertainties arising from the ability of Ameritrust to successfully complete the merger, to implementation of Ameritrust's business plan; uncertainties relating to the ability to realize the expected benefits of the merger; unanticipated or unfavorable regulatory matters; general economic conditions in the region and industry in which Ameritrust operates, and other risk factors as discussed in Ameritrust’s other filings made from time to time with the United States Securities and Exchange Commission.

Item 9.01- Financial Statements and Exhibits

 

A. Financial Statements for Business Acquired.  Ameritrust will file the financial statements required to be filed by this Item not later than seventy-one (71) days after the date on which this Form 8-K is required to be filed.

 

B. Pro-Forma Financial Information.  Ameritrust will file the pro-forma financial statements required to be filed by this Item no later than seventy-one (71) days after the date on which this Form 8-K is required to be filed.

 

C. Exhibit 10.1- Merger Agreement  

SIGNATURES

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.

 

 Dated:  September 2, 2020

AMERITRUST CORPORATION

By:/s/Seong Y. Lee

Name:  Seong Y. Lee

Title:    Chief Executive Officer

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Exhibit 10.1

AGREEMENT AND PLAN OF MERGER

 

This Agreement and Plan of Merger (the "Agreement") is made and entered into this 26th day of August, 2020, by and between Ameritrust Corporation, a Georgia Corporation, (“AGA.”), and Ameritrust Corporation, a newly formed Wyoming Corporation (“AYA”) (said corporations being hereinafter sometimes collectively referred to as the “Constituent Entities”).

 

W I T N E S S E T H:

 

WHEREAS, AGA has authorized capital stock consisting of 10,000,000,000,000 shares of common stock,

 

WHEREAS, AWY has authorized capital stock consisting of an unlimited number of shares of common stock and an unlimited number of shares of preferred stock,

 

WHEREAS, the laws of the State of Wyoming and the State of Georgia permit a merger of the Constituent Entities;

 

WHEREAS, the Boards of Directors of each of the Constituent Entities have determined that it is advisable and for the benefit of each of the Constituent Entities and their respective shareholders that aga be merged with and into AWY on the terms and conditions hereinafter set forth, and by resolutions duly adopted have agreed to the terms and conditions of this Agreement; and directed that the proposed merger be submitted to the shareholders of AGA and recommended to such shareholders approval of the terms and conditions hereinafter set forth;

 

NOW, THEREFORE, for and in consideration of the premises and of the mutual agreements, promises and covenants contained herein, it is agreed by and between the parties hereto, subject to the conditions hereinafter set forth and in accordance with the Georgia Business Corporation Code (the “Code”), that AGA shall be and hereby is, at the Effective Date (as hereinafter defined), merged with and into AWY  (subsequent to such merger being hereinafter sometimes referred to as the “Surviving Corporation”), with the corporate existence of the Surviving Corporation to be continued under the name “Ameritrust Corporation” and that the terms and conditions of the merger hereby agreed upon, the mode of carrying the same into effect, the manner of converting shares are and shall be as follows:


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Section 1.

Merger

 

1.1 On the Effective Date, AGA shall be merged with and into AWY, and AWY shall continue in existence and the merger shall in all respects have the effect provided for in Article 11 of the Wyoming Business Corporation Act.

 

1.2 Without limiting the foregoing, on and after the Effective Date, the separate existence of AGA shall cease, and, in accordance with the terms of this Agreement, the title to all real estate and other property owned by each of the Constituent Entities shall be vested in the Surviving Corporation without reversion or impairment; the Surviving Corporation shall have all liabilities of each of the Constituent Entities; and any proceeding pending against any Constituent Entity may be continued as if the merger did not occur or the Surviving Corporation may be substituted in its place.

 

1.3 Prior to and from and after the Effective Date, the Constituent Entities shall take all such action as shall be necessary or appropriate in order to effectuate the merger.  If at any time the Surviving Corporation shall consider or be advised that any further assignments or assurances in law or any other actions are necessary, appropriate or desirable to vest in said corporation, according to the terms hereof, the title to any property or rights of AGA., the last acting officers of AGA, or the corresponding officers of the Surviving Corporation, shall and will execute and make all such proper assignments and assurances and take all action necessary and proper to vest title in such property or rights in the Surviving Corporation, and otherwise to carry out the purposes of this Agreement.

 

Section 2.

Terms of Transaction

 

2.1 Upon the Effective Date:

 

(a) The shareholders of AGA shall, within thirty (30) days of the Effective Date, submit their certificates for AGA Common Stock to AWY for replacement with AWY Shares.  Each share of AGA Common Stock submitted shall thereupon be converted into one Common Share of AWY, subject to the provisions of Section 2.2 below, the Common Shares of the Surviving Corporation required for such purpose being drawn from authorized but unissued shares of the Surviving Corporation.  

 

(b) Each share of AGA Common Stock held in the treasury of AGA immediately prior to the Effective Date of the merger shall by virtue of the merger and without any action on the part of the holder thereof, be cancelled and retired and cease to exist without any conversion thereof.

 

(c) Each share of AWY Common Shares outstanding and owned of record by its shareholders, if any, immediately prior to the Effective Date shall remain outstanding.

 

2.2 After the Effective Date, each holder of an outstanding certificate or certificates of AGA Common Stock will, upon surrender of such certificate or certificates, within thirty (30) days of the Effective Date be entitled to a certificate or certificates representing Shares of AWY equal to the same number of AGA shares.  After the Effective Date, certificates representing shares of AGA Common Stock which are not submitted to the Surviving Corporation within thirty (30) days of the Effective Date, shall be automatically converted to Shares of AWY in accordance with the terms of this paragraph.


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Section 3.

Directors and Officers

 

The persons who are directors and officers of AWY immediately prior to the Effective Date shall continue as officers and directors of the Surviving Corporation and shall continue to hold office as provided in the Articles of Organization of the Surviving Corporation.

 

Section 4.

Articles of Incorporation and Bylaws

 

4.1 From and after the Effective Date, the Articles of Incorporation of AWY, as in effect at such date, shall be the Articles of Incorporation of the Surviving Corporation and shall continue in effect until the same shall be altered, amended or repealed as therein provided or as provided by law.

 

4.2 From and after the Effective Date, the Bylaws of AWY, in effect at such date, shall be the Bylaws of the Surviving Corporation and shall continue in effect until the same shall be altered, amended or repealed as therein provided or as provided by law.

 

Section 5.

Shareholder Approval, Effectiveness of Merger

 

This Agreement shall be submitted for approval to the shareholders of AGA as provided by the Georgia Business Corporation Code.  If this Agreement is duly authorized and adopted by the requisite vote or written consents of such shareholders and is not terminated and abandoned pursuant to the provisions of Section 6 hereof, this Agreement shall be executed, and this Agreement, or a Certificate of Merger incorporating the terms of this Agreement as allowed by state law, shall be filed and recorded in accordance with state laws as soon as practicable after the last approval by such shareholders.  The Board of Directors and the proper officers of the Constituent Entities are authorized, empowered and directed to do any and all acts and things, and to make, execute, deliver, file, and record any and all instruments, papers, and documents which shall be or become necessary, proper, or convenient to carry out or put into effect any of the provisions of this Agreement or of the merger herein provided for.  The merger shall become effective on filing of the Articles or Certificate of Merger with the Secretary of State of Georgia and the Secretary of State of Wyoming (said date is herein referred to as the “Effective Date”).


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Section 6.

Termination

 

At any time prior to the filing of the Articles or Certificate of Merger with the Secretary of State of Georgia and/or the Secretary of State of Wyoming, the Board of Directors of the constituent corporation may terminate and abandon this Agreement, notwithstanding favorable action on the merger by the shareholders of the Constituent Entities or earlier approval by the Boards of Directors of such Constituent Entities.

 

Section 7.

Miscellaneous

 

7.1 This Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original and all of which together shall constitute one and the same agreement.

 

7.2 This Agreement and the legal relations between the parties hereto shall be governed by and construed in accordance with the laws of the State of Georgia.

 

IN WITNESS WHEREOF, the Constituent Entities have each caused this Agreement to be executed, their respective corporate seals to be affixed and the foregoing attested, all by their respective duly authorized officers, as of the date hereinabove first written.

 

AMERITRUST CORPORATION (Georgia)

 

By: /s/  Seong Y. Lee, President

 

 

AMERITRUST CORPORATION (Wyoming)

 

By: /s/   Seong Y. Lee, President

 

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