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Note 1 – Nature of the Business
12 ReTech Corporation (“the Company”) is
a holding company with subsidiaries that develop, sell and deploy software that the Company believes will REINVENT RETAIL
for shoppers and retailers. As a holding company, we also acquire synergistic operating companies that manufacture and sell products
to other retailers as well as sell products online.
As a subsequent event on October 1, 2019, the
Company acquired twelve (12) retail stores operating in airport terminals and casinos transforming the Company into a true Omni-Channel
retailer. The new operations will allow us to deploy our cutting-edge software in the United States to demonstrate its effectiveness
as well as to test, in real time, new software products that will continue to delight consumers and generate additional revenue and
profit opportunities for retailers.
Principal subsidiaries
The details of the principal subsidiaries of
the Company are set out as follows:
| Name of Company |
|
Place of Incorporation |
|
Date of Incorporation |
|
Acquisition Date |
|
Attributable Equity
Interest % |
|
|
Business |
| 12 Hong Kong Limited (“12HK”) |
|
Hong Kong, China |
|
February 2, 2014 |
|
June 27, 2017 |
|
|
100 |
% |
|
Development and sales of technology applications |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 12 Retail Corporation (“12 Retail”) |
|
Arizona, USA |
|
Sept. 18, 2017 |
|
Formed by 12 ReTech Corporation |
|
|
100 |
% |
|
As a holding Company to execute the Company’s roll up acquisition strategy as well as to penetrate the North American market with our technology to select retailers. |
| |
|
|
|
|
|
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|
|
|
|
|
| Red Wire Group, LLC |
|
Utah, USA |
|
July 2, 2015 |
|
February 19, 2019 |
|
|
100 |
% |
|
A subsidiary of 12 Retail and is part of the brand acquisition strategy. Operates its own “cut & sew” factory for independent third party brands who contract us to produce their apparel products. |
| |
|
|
|
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|
|
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|
|
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| Rune NYC, LLC |
|
New York, USA |
|
Jan 23, 2013. |
|
March 14, 2019 |
|
|
92.5 |
% |
|
A subsidiary of 12 Retail and is part of the brand acquisition. Operates contemporary women’s ‘Athleisure’ brand which is primarily sold to retailers. |
| |
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|
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| 12 Japan Limited (“12JP”) |
|
Tokyo, Japan |
|
February 12, 2015 |
|
July 31, 2017 |
|
|
100 |
% |
|
Consultation and sales of technology applications |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 12 Europe AG (“12EU”) |
|
Zurich, Switzerland |
|
August 22, 2013 |
|
October 26, 2017 |
|
|
100 |
% |
|
Inactive as of August 20, 2019 |
| |
|
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|
|
|
|
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|
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| Bluwire Group, LLC (“Bluwire”) |
|
Florida, USA |
|
|
|
October 1, 2019 |
|
|
51% |
|
|
As a subsequent event, this 12 location retailer was acquired. |
|