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TAP Real Estate Technologies (RWAX) secures 60-day option on Utah’s Zermatt Resort

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

TAP Real Estate Technologies, Inc. entered into an Option to Purchase Agreement on March 24, 2026 with Wasatch Springs Management Holdings, LLC for the potential acquisition of the Zermatt Resort in Midway, Utah. The company paid $250,000 for a 60-day option to buy the resort.

During the option period, TAP Real Estate Technologies will assume operational control of the resort, perform due diligence on the property and operations, negotiate with existing creditors and debtholders, pursue capital raising discussions with its funding sources, and advance preliminary renovation plans. Exercising the option would lead to a purchase at the appraised value minus any debt the company assumes, or another price mutually agreed, with the $250,000 credited toward the purchase price.

The decision to exercise the option depends on completing due diligence, successful restructuring talks with Wasatch Springs and creditors, capital raising efforts, and initial renovation planning. If the company proceeds, it intends to operate and renovate the resort.

Positive

  • None.

Negative

  • None.

Insights

TAP Real Estate pays $250,000 for a short-term option on the Zermatt Resort, with exercise highly conditional.

TAP Real Estate Technologies, Inc. has committed $250,000 for a 60-day option to acquire the Zermatt Resort in Midway, Utah. The structure lets the company assume operational control during the option window, perform due diligence, and negotiate with creditors before deciding whether to proceed.

Any acquisition price would be based on the resort’s appraised value, reduced by debt the company agrees to assume, or another mutually agreed price, with the option payment credited to that amount. The filing also highlights intentions to renovate the property if the purchase occurs, which implies potential future capital requirements, though specific figures are not provided.

The company lists several explicit conditions for exercising the option, including satisfactory due diligence, successful restructuring talks with Wasatch Springs and creditors, capital raising discussions with funding sources, and completion of preliminary renovation plans. These conditions mean the transaction outcome remains uncertain until the 60-day option period concludes or is otherwise resolved.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Option payment $250,000 Paid for 60-day option to purchase Zermatt Resort
Option period 60 days Length of option to purchase Zermatt Resort
Agreement date March 24, 2026 Date TAP Real Estate entered Option to Purchase Agreement
Exhibit 10.1 Option to Purchase Agreement Filed as Exhibit 10.1 to the current report
Material Definitive Agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
Option to Purchase Agreement financial
"entered into an Option to Purchase Agreement with Wasatch Springs"
due diligence financial
"conduct due diligence related to the feasibility of the purchase"
Due diligence is the careful investigation and analysis someone conducts before making a decision, such as investing money or entering into an agreement. It’s like researching thoroughly before buying a used car to ensure it’s in good condition; this helps prevent surprises and makes informed choices. For investors, due diligence reduces risk by verifying details and understanding what they’re getting into.
capital raising discussions financial
"capital raising discussions and plans with the Company’s funding sources"
creditors and debtholders financial
"negotiate with the resort’s creditors and debtholders regarding a potential purchase"
Understanding 8-K Material Events →
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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): March 24, 2026

 

TAP Real Estate Technologies, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   000-31267   27-1296318
(State or other jurisdiction   (Commission   (IRS Employer
of incorporation)   File Number)   Identification No.)

 

101 W. Broadway    
Suite 1450    
San Diego, CA   92101
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (786) 738-9012

 

(Former name or former address, if changed since last report.)

 

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))

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.00001   RWAX   OTCID

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On March 24, 2026, TAP Real Estate Technologies, Inc. (the “Company”) entered into an Option to Purchase Agreement with Wasatch Springs Management Holdings, LLC (“Wasatch Springs”) for the potential purchase of the Zermatt Resort in Midway, Utah (the “Option Agreement”). Pursuant to the terms of the Option Agreement, the Company acquired a 60-day option to purchase the Zermatt Resort from Wasatch Springs. The Company paid $250,000 for the option. During the 60-day option period, the Company will assume operational control of the resort, conduct due diligence related to the feasibility of the purchase, and negotiate with the resort’s creditors and debtholders regarding a potential purchase by the Company. If the Company elects to exercise the option and purchase the Zermatt Resort, the purchase price would be the appraised value of the property less any debt assumed by the Company or such other price as the parties mutually agree. The $250,000 option price would be applied toward the purchase price.

 

Whether the Company’s elects to exercise the option depends on a number of factors, including, but not limited to successful completion of the following: (1) standard due diligence related to the property and resort operations; (2) restructuring negotiations with Wasatch Springs and the resort’s existing creditors and debtholders; (3) capital raising discussions and plans with the Company’s funding sources; and (4) completion of preliminary renovation plans. If any of the foregoing is not successfully completed, the Company would not elect to exercise the option. If the Company does elect to exercise the option, it would do so with the intention of operating the resort and completing a renovation of the property.

 

The foregoing description of the Option Agreement does not purport to be complete and is qualified in its entirety by reference to the Option Agreement which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

 

Item 9.01 Financial Statements and Exhibits.

 

  Exhibits    
       
  10.1   Option to Purchase Agreement between TAP Real Estate Technologies, Inc. and Wasatch Spring Management Holdings, LLC dated March 24, 2026.
  104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Date: March 30, 2026 TAP Real Estate Technologies, Inc.
     
  By: /s/ Gregory Hopkins
    Gregory Hopkins, CEO

 

 

 

Source: View Original Filing on SEC EDGAR

FAQ

What did TAP Real Estate Technologies (HMBL) announce regarding the Zermatt Resort?

TAP Real Estate Technologies entered an Option to Purchase Agreement for the Zermatt Resort in Midway, Utah. The company obtained a 60-day option and will temporarily assume operational control while performing due diligence, negotiating with creditors, pursuing capital discussions, and preparing preliminary renovation plans before deciding on a full purchase.

How much did TAP Real Estate Technologies pay for the Zermatt Resort option?

The company paid $250,000 for a 60-day option to purchase the Zermatt Resort. This payment secures exclusive rights during the option period and will be credited toward the purchase price if TAP Real Estate Technologies ultimately exercises the option and completes the acquisition under the agreement’s terms.

What determines the purchase price if TAP Real Estate exercises the Zermatt Resort option?

If the option is exercised, the purchase price will be the appraised value of the Zermatt Resort minus any debt assumed by the company, or another price mutually agreed. The $250,000 option payment is applied toward this price under the Option to Purchase Agreement terms.

What conditions must TAP Real Estate meet to exercise the Zermatt Resort option?

Exercising the option depends on successful due diligence on the resort and its operations, restructuring negotiations with Wasatch Springs and existing creditors, capital raising discussions with the company’s funding sources, and completion of preliminary renovation plans. Failure to complete any of these steps may lead to not exercising the option.

What will TAP Real Estate Technologies do during the 60-day Zermatt Resort option period?

During the 60-day option period, TAP Real Estate Technologies will assume operational control of the Zermatt Resort, conduct property and operations due diligence, negotiate with creditors and debtholders on restructuring, hold capital raising discussions with funding sources, and work on initial renovation planning for the property.

What are TAP Real Estate Technologies’ plans if it buys the Zermatt Resort?

If the company exercises the option and completes the purchase, it intends to operate the Zermatt Resort and carry out a renovation of the property. The filing emphasizes both ongoing resort operations and planned improvements, though it does not specify renovation scope, timelines, or capital amounts in this disclosure.

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

Other Documents