Pioneer Custom Electric Products Corp. asset acquisition
Company: CleanSpark
What the later record shows
Outcome not yet confirmed
No passage says the Pioneer Custom Electric Products Corp. purchase closed on October 31, 2018 or at any other time. P5 describes a separate January 2019 deal with Pioneer Critical Power, Inc., which no passage identifies as the same transaction.
“On January 22, 2019, CleanSpark entered into an agreement with Pioneer Critical Power, Inc., whereby it acquired certain intellectual property assets and client lists.”
2021-08-15 · CleanSpark 10-Q filed 2021-08-16 View cached copy (2026-09-13)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Company entered into asset purchase agreement to acquire accounts receivable, inventory, customer contracts, and client lists from Pioneer Custom Electric Products Corp., with closing expected October 31, 2018, in exchange for 7 million shares valued at $5.6 million, 18-month promissory note, equipment lease, and warrants
Source (primary)
CleanSpark 10-Q filed 2018-08-20 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “We recently entered into an asset purchase agreement with Pioneer Custrom Electric Products Corp., as amended, and will acquire the following assets... The closing of the transactions contemplated by the Purchase Agreement is currently expected to occur on October 31, 2018”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 10-Q's commitments note and MD&A describe the Pioneer asset purchase agreement, the listed assets, the expected October 31, 2018 closing, and every element of the consideration stated in the claim.
Confirmed in the source:
- CleanSpark entered into an asset purchase agreement with Pioneer Custom Electric Products Corp. (dated May 2, 2018, later amended)
- The assets to be acquired include accounts receivable, inventory, purchase orders, customer contracts and client lists
- Closing was expected to occur on October 31, 2018
- Consideration includes 7,000,000 shares of common stock at an agreed value of $0.80 per share, totaling $5,600,000
- Consideration includes an 18-month promissory note equal to the net carrying value of the business's current assets and liabilities
- Consideration includes an equipment lease agreement
- Consideration includes two five-year warrants, each for 1,000,000 shares, exercisable at $1.60 and $2.00 per share
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/827876/000166357718000382/mainbody.htm) in full (111,603 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms CleanSpark 10-Q filed 2018-08-20
Quote: “We recently entered into an asset purchase agreement with Pioneer Custrom Electric Products Corp., as amended, and will acquire the following assets... The closing of the transactions contemplated by the Purchase Agreement is currently expected to occur on October 31, 2018”