AMRR American Metals Recovery and Recycling Inc (PK)

Effective August 31, 2022, American Metals Recovery and Recycling Inc. (the “Company”) entered into an Asset Purchase Agreement with Multiband Global Resources, LLC, now known as HSB Holdings LLC (“MBGR”), pursuant to which the Company acquired substantially all of the MBGR’s assets (the “Asset Purchase Agreement”).

Pursuant to the Asset Purchase Agreement, in connection with the closing of the transaction, MBGR was obligated to, but did not, pay to the Company One Million Dollars ($1,000,000.00) in cash and the Company was obligated to, but did not, issue One Million (1,000,000) shares of Series A Preferred Stock of the Company to the Frinzi Family Trust as the person designated by MBGR.

On November 16, 2022, the Company entered into an Amendment to the Asset Purchase Agreement (the “Amendment”) with MGBR pursuant to which, among other things, the Company and MGBR amended the consideration payable under the Asset Purchase Agreement as follows: (i) the Company and MGBR waived MGBR’s obligation to pay to the Company One Million Dollars ($1,000,000.00) in cash and the Company’s obligation to issue to MGBR or its designee the One Million (1,000,000) shares of Series A Preferred Stock of the Company; and (ii) in lieu thereof the Company will pay to MBGR or its designee $100 for the assets of MBGR acquired by the Company.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Amendment, which is filed as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Information Regarding Certain Relationships and Related Person Transactions

James Frinzi, the CEO and the majority stockholder of the Company, is the sole member of MGBR. Mr. Frinzi is also a beneficiary and co-trustee of the Frinzi Family Trust.