CHUMA HOLDINGS, INC.

Chuma Holdings Inc. (the “Company”) was incorporated in the State of Nevada on February 14, 2006 under the name XTOL Energy Inc. On October 11, 2007, the Company changed its name to LAUD Resources Inc. On June 23, 2008, the Company changed its name from LAUD Resources Inc. to MASS Petroleum Inc. On March 6, 2014, the Company changed its name from MASS Petroleum Inc. to Dyna Nutra, Inc. On April 7, 2014, the Company changed its name from Dyna Nutra, Inc. to Cannamed Corporation. On August 29, 2014, the Company changed its name from Cannamed Corporation to Chuma Holdings Inc. The Company’s principal business was formerly the acquisition and exploration of oil and gas properties located in the United States until the sale of its sole oil and gas property on May 30, 2014. The Company’s current operations are to offer turnkey support services and financing loans to companies involved in the legal cannabis industry.  Support services provided by the Company include compliance consulting, security services, management, bookkeeping and financial services.

Intangible assets consist of certain intellectual properties and proprietary trade information acquired from the acquisition of the Company’s wholly-owned subsidiaries, PSA and CAGI.  Refer to Note 12.  At August 31, 2015, due to the Company’s uncertainty in generating future revenues by the acquired intellectual properties and proprietary trade information, the Company performed impairment tests as prescribed by ASC 350. As a result, the Company recorded an impairment charge totaling $3,996,453.

On October 21, 2014, the Company entered into a consulting agreement with Strategic Management LLC for business development services to not exceed $10,000 per month and 25,000 shares of common stock per month, which may be issued on a quarterly basis upon the Company’s consent to issue such shares and approve the scope of work to be provided to the Company.  The agreement expires on October 21, 2024 and either party may terminate the agreement with one year of prior written notice.  

On October 23, 2014, the Company entered into a consulting agreement with Institute for Wellbeing LLC for business development services to not exceed $5,000 per month and 5,000 shares of common stock per month, which may be issued on a quarterly basis upon the Company’s consent to issue such shares and approve the scope of work to be provided to the Company.  The agreement expires on October 23, 2015, and either party may terminated the agreement 30 days of prior written notice.

On October 27, 2014, the Company entered into a consulting agreement with Harmony Group International LLC for business development services to not exceed $5,000 per month and 5,000 shares of common stock per month which may be, issued on a quarterly basis upon the Company’s consent to issue such shares and approve the scope of work to be provided to the Company.  The agreement expires on October 27, 2015, and either party may terminated the agreement 30 days of prior written notice.