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<DIV style=margin-left:90pt;width:432pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>UNITED STATES</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>Washington, D.C. 20549</B></FONT></P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0;color:#000000'>&nbsp;</P>
<P align=center style='font:16pt Times New Roman;margin-top:0pt;margin-bottom:9.4pt;color:#000000'> <B>FORM 8-K</B></P>
<P align=center style='font:16pt Times New Roman;margin-top:0pt;margin-bottom:29.25pt;color:#000000'><B>CURRENT REPORT </B></P>
<P align=center style='font:11.5pt Times New Roman;margin-top:0pt;margin-bottom:29.25pt;color:#000000'><B>Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 </B></P>
<P align=center style='font:10pt Times New Roman;margin:0;color:#000000'>Date of Report (Date of earliest event reported)</P>
<P align=center style='font:10pt Times New Roman;margin:0'>November 14, 2019</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&#160;&#160;&#160;</P>
<P align=center style='font:14pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>ACQUIRED SALES CORP. </B></FONT></P>
<P align=center style='font:11pt Times New Roman;margin:0'>(Exact name of registrant as specified in its charter)</P>
<P style='font:11pt Times New Roman;margin:0'>&#160;</P>
<TABLE align=center style=border-collapse:collapse;width:100%><TR><TD valign=top style=width:48.76%;padding-left:0.7pt;padding-right:0.7pt><P align=center style='font:11pt Times New Roman;margin:0'><B>Nevada</B></P>
</TD><TD valign=bottom style=width:2.5%;padding-left:0.7pt;padding-right:0.7pt><P style='font:11pt Times New Roman;margin:0'><B>&#160;</B></P>
</TD><TD valign=top style=width:48.74%;padding-left:0.7pt;padding-right:0.7pt><P align=center style='font:11pt Times New Roman;margin:0'><B>87-0479286</B></P>
</TD></TR>
<TR><TD valign=top style=width:48.76%;padding-left:0.7pt;padding-right:0.7pt><P align=center style='font:11pt Times New Roman;margin:0'>(State or other jurisdiction of incorporation or organization)</P>
</TD><TD valign=bottom style=width:2.5%;padding-left:0.7pt;padding-right:0.7pt><P style='font:11pt Times New Roman;margin:0'><B>&#160;</B></P>
</TD><TD valign=top style=width:48.74%;padding-left:0.7pt;padding-right:0.7pt><P align=center style='font:11pt Times New Roman;margin:0'>(I.R.S. Employer Identification No.)</P>
</TD></TR>
<TR><TD valign=top style=width:48.76%;padding-left:0.7pt;padding-right:0.7pt><P align=center style='font:11pt Times New Roman;margin:0'>&#160;</P>
</TD><TD valign=bottom style=width:2.5%;padding-left:0.7pt;padding-right:0.7pt><P style='font:11pt Times New Roman;margin:0'><B>&#160;</B></P>
</TD><TD valign=top style=width:48.74%;padding-left:0.7pt;padding-right:0.7pt><P align=center style='font:11pt Times New Roman;margin:0'>&#160;</P>
</TD></TR>
<TR><TD valign=top style=width:48.76%;padding-left:0.7pt;padding-right:0.7pt><P align=center style='font:11pt Times New Roman;margin-top:5pt;margin-bottom:5pt'><B>31 N. Suffolk Lane, Lake Forest, Illinois</B></P>
</TD><TD valign=bottom style=width:2.5%;padding-left:0.7pt;padding-right:0.7pt><P style='font:11pt Times New Roman;margin:0'>&#160;</P>
</TD><TD valign=bottom style=width:48.74%;padding-left:0.7pt;padding-right:0.7pt><P align=center style='font:11pt Times New Roman;margin:0'><B>60045</B></P>
</TD></TR>
<TR><TD valign=top style=width:48.76%;padding-left:0.7pt;padding-right:0.7pt><P align=center style='font:11pt Times New Roman;margin:0'>(Address of principal executive offices)</P>
</TD><TD valign=bottom style=width:2.5%;padding-left:0.7pt;padding-right:0.7pt><P style='font:11pt Times New Roman;margin:0'>&#160;</P>
</TD><TD valign=top style=width:48.74%;padding-left:0.7pt;padding-right:0.7pt><P align=center style='font:11pt Times New Roman;margin:0'>(Zip Code)</P>
</TD></TR>
</TABLE>
<P style='font:11pt Times New Roman;margin:0'>&#160;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>847-915-2446 </B></FONT></P>
<P align=center style='font:7.5pt Times New Roman;margin:0'><FONT style=font-size:7.5pt><B>(Registrant&#8217;s telephone number, including area code) </B></FONT></P>
<P align=center style='font:11pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:11pt Times New Roman;margin-top:0pt;margin-bottom:10.35pt;color:#000000'><FONT style=font-size:11pt>Check</FONT> the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<FONT style='border-bottom:1px solid #000000'>see </FONT>General Instruction A.2. below): </P>
<P style='font:10pt Times New Roman;margin-top:0pt;margin-bottom:10.35pt;color:#000000'>[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P>
<P style='font:10pt Times New Roman;margin-top:0pt;margin-bottom:10.35pt;color:#000000'>[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </P>
<P style='font:10pt Times New Roman;margin-top:0pt;margin-bottom:10.35pt;color:#000000'>[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </P>
<P style='font:10pt Times New Roman;margin:0;color:#000000'>[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
<HR style='page-break-after:always;border:0;height:3.75pt;background-color:#919191;margin:15pt 0'><P style=line-height:0;margin:0></P>
<P style='font:10pt Times New Roman;margin:0'><A name=fis_form />&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><B>Section 1 - Registrant&#8217;s Business and Operations </B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><B>Item 1.02 Termination of a Material Definitive Agreement</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;line-height:12.2pt;margin:0'><FONT style=line-height:12.2pt><I>Termination of Agreement and Plan of Merger &#8211; CBD Lion LLC</I></FONT></P>
<P style='font:10pt Times New Roman;line-height:12.2pt;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD>On November 14, 2019, Acquired Sales Corp. terminated the Agreement and Plan of Merger (&#8220;Merger Agreement&#8221;) with CBD Lion LLC. Pursuant to the terms of the Merger Agreement executed on August 15, 2019, Acquired Sales Corp. agreed to acquire 100% of the ownership of Lion, subject to a number of conditions, for consideration of two million dollars ($2,000,000) in cash, plus five million (5,000,000) shares of unregistered common stock of the Company. To date, Acquired Sales Corp. has not paid any of the foregoing cash or stock consideration to CBD Lion LLC. &nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><A name=note />&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD>The material circumstances surrounding the termination of the Merger Agreement are set out in the letter dated November 14, 2019 from Acquired Sales Corp.&#8217;s legal counsel to CBD Lion LLC. The letter is attached as Exhibit 99.1 to this current report and is incorporated by reference. &nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD>In connection with the Merger Agreement, on August 8, 2019, Acquired Sales Corp. made a $300,000 loan to CBD Lion LLC to be used by CBD Lion LLC exclusively for growth capital (&#8220;Loan&#8221;). Due to termination of the Merger Agreement, and per Section 5.15 of the Merger Agreement, commencing on December 1, 2019, the Loan is to be repaid in six equal monthly installments of principal and interest due and payable on the first day of each calendar month. Interest on the principal balance is calculated at an annual rate of 6% commencing as of August 8, 2019. &nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD>There are no material early termination penalties incurred by Acquired Sales Corp. as a result of the termination of the Merger Agreement. Due to the termination, Acquired Sales Corp. no longer intends to change its name to CBD Lion Corp. The termination of the Merger Agreement is not currently anticipated to have a negative impact on the previously disclosed, proposed acquisition of Warrender Enterprise Inc. d/b/a Lifted Liquids.&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><B>Item 9.01 Financial Statements and Exhibits.</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-36pt'>99.1</KBD><A href=aqsp_ex99z1.htm style=text-decoration:none><FONT style='color:#0000FF;border-bottom:1px solid #0000FF'>Letter from Acquired Sales Corp. legal counsel Fox Rothschild LLP to CBD Lion LLC, dated November 14, 2019.</FONT></A>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>SIGNATURES</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:18pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:252pt></KBD>ACQUIRED SALES CORP.&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:252pt></KBD><FONT style='border-bottom:1px solid #000000'>/s/ Gerard M. Jacobs</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:252pt></KBD>Gerard M. Jacobs &nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:252pt></KBD>Chief Executive Officer&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>Dated: &nbsp;November 14, 2019</P>
</DIV>
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{"company-data": {"conformed-name": "ACQUIRED SALES CORP", "cik": "0001391135", "assigned-sic": "7372", "irs-number": "870479286", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-52520", "film-number": "191221970"}, "business-address": {"street1": "31 N SUFFOLK LANE", "city": "LAKE FOREST", "state": "IL", "zip": "60045", "phone": "8017720438"}, "mail-address": {"street1": "31 N SUFFOLK LANE", "city": "LAKE FOREST", "state": "IL", "zip": "60045"}, "former-company": {"former-conformed-name": "Acquired Sales CORP", "date-changed": "20070223"}}
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)
November 14, 2019
ACQUIRED SALES CORP.
(Exact name of registrant as specified in its charter)
Nevada
87-0479286
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
31 N. Suffolk Lane, Lake Forest, Illinois
60045
(Address of principal executive offices)
(Zip Code)
847-915-2446
(Registrant's telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
[ ] 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))
Section 1 - Registrant's Business and Operations
Item 1.02 Termination of a Material Definitive Agreement
Termination of Agreement and Plan of Merger – CBD Lion LLC
On November 14, 2019, Acquired Sales Corp. terminated the Agreement and Plan of Merger ("Merger Agreement") with CBD Lion LLC. Pursuant to the terms of the Merger Agreement executed on August 15, 2019, Acquired Sales Corp. agreed to acquire 100% of the ownership of Lion, subject to a number of conditions, for consideration of two million dollars ($2,000,000) in cash, plus five million (5,000,000) shares of unregistered common stock of the Company. To date, Acquired Sales Corp. has not paid any of the foregoing cash or stock consideration to CBD Lion LLC.
The material circumstances surrounding the termination of the Merger Agreement are set out in the letter dated November 14, 2019 from Acquired Sales Corp.'s legal counsel to CBD Lion LLC. The letter is attached as Exhibit 99.1 to this current report and is incorporated by reference.
In connection with the Merger Agreement, on August 8, 2019, Acquired Sales Corp. made a $300,000 loan to CBD Lion LLC to be used by CBD Lion LLC exclusively for growth capital ("Loan"). Due to termination of the Merger Agreement, and per Section 5.15 of the Merger Agreement, commencing on December 1, 2019, the Loan is to be repaid in six equal monthly installments of principal and interest due and payable on the first day of each calendar month. Interest on the principal balance is calculated at an annual rate of 6% commencing as of August 8, 2019.
There are no material early termination penalties incurred by Acquired Sales Corp. as a result of the termination of the Merger Agreement. Due to the termination, Acquired Sales Corp. no longer intends to change its name to CBD Lion Corp. The termination of the Merger Agreement is not currently anticipated to have a negative impact on the previously disclosed, proposed acquisition of Warrender Enterprise Inc. d/b/a Lifted Liquids.
Item 9.01 Financial Statements and Exhibits.
99.1
Letter from Acquired Sales Corp. legal counsel Fox Rothschild LLP to CBD Lion LLC, dated November 14, 2019.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.
ACQUIRED SALES CORP.
/s/ Gerard M. Jacobs
Gerard M. Jacobs
Chief Executive Officer
Dated:  November 14, 2019