GOPHER PROTOCOL INC. (OTCMKTS:GOPH) Files An 8-K Other EventsItem 8.01 Other Events
On January 14, 2018, Gopher Protocol Inc. (the “Company”) entered into an Antecedent Term Acceding (the “ITA”) with Spare CS Inc. (“Spare”), a Delaware corporation, to which the Aggregation agreed to admission 50% of the disinterestedness of Spare. Spare is a adaptable cyberbanking app that allows barter to admission banknote with no ATM, no debit or acclaim card, and no acquirement appropriate from accommodating merchants.
As set alternating in the ITA, the Aggregation agreed to accommodate Spare with all bare operating costs and will armamentarium $100,000 every three months until Spare is banknote breeze positive. The Aggregation provided the antecedent $100,000 on January 16, 2018. DOntra Hughes, CEO of Spare, will abide as CEO for 24 months at a bacon of $10,000 per ages and all accepted administration will abide in abode for 12 months. In addition, the Aggregation will affair Spare 1,500,000 shares of accepted banal and a accepted banal acquirement accreditation to admission 1,000,000 shares of accepted banal at an exercise amount of $3.00 per allotment for a aeon of three years. The Aggregation additionally agreed to abode 1,500,000 shares of accepted banal in escrow as a bound anatomy of amount aegis for six months.
Although the Aggregation accede the acceding in the ITA to be bounden and the Aggregation has provided an antecedent allotment of $100,000 to Spare,the closing the affairs is accountable to the achievement of due activity and drafting and beheading of a absolute acquirement agreements and accompanying transaction documents. There is no acceding that the parties will auspiciously accommodate and agree a absolute acquirement agreement, that the Board of Directors of anniversary aggregation will accept such acceding or that the transaction set alternating in the ITA will close.
The aloft advice is a arbitrary of anniversary of the agreements complex in the affairs declared above, is not complete, and is able in its absoluteness by advertence to the abounding argument of those agreements, anniversary of which is absorbed an display to this Accepted Report on Anatomy 8-K.Readers should analysis those agreements for a complete compassionate of the acceding and altitude associated with this transaction.
Item 9.01 Financial Statements and Exhibits
(d) List of Exhibits
Gopher Protocol Inc. ExhibitEX-99.1 2 s108733_ex99-1.htm EXHIBIT 99.1 Display 99.1 SPARE CS INC. (“SPARE”) GOPHER PROTOCOL,…To appearance the abounding display bang hereAbout GOPHER PROTOCOL INC. (OTCMKTS:GOPH) Gopher Protocol, Inc. (Gopher), aforetime Forex International Trading Corp., is in the action of developing a real-time, heuristic-based, adaptable technology. Upon development, the technology will abide of a acute microchip, adaptable appliance software and acknowledging software that run on a server. The Aggregation activated this technology into an cyberbanking circuit, including a chip that is aural a adhesive application amalgamation (the Patch). The Application can be added to any object, adaptable or static, which will accredit the article to which it is added to be tracked remotely. The Application will additionally accomplish an emergency feature. The Application additionally alerts the user’s accompany and ancestors about the user’s location. The Aggregation additionally developed Gopher Epsilon Software, which is an centralized belvedere that has been developed as a appointed apparatus for the adaptable industry to advance signoff Reliability Verification (RV) with Accurate and Precise Interactive Error Detection and Correction.
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