AppSoft Technologies, Inc. acquired assets of Guuf LLC from Nathan Cavanaugh for $0.06 million.
June 16, 2016
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AppSoft Technologies, Inc. entered into an asset transfer agreement to acquire the assets of Guuf LLC from Nathan Cavanaugh for $0.06 million on June 10, 2016. As part of consideration, AppSoft Technologies agreed to pay $0.015 million in cash, 0.08 million common stock of AppSoft at an issue price of $0.5 per share, agreed to $5,000 in cash payable by August 1, 2016 and also agreed to a grant of royalty equal to 5% of first calendar year’s profits. The transaction assets involves, Guuf.com domain name, branding and marketing collateral, prototyped design files of Guuf’s mobile application for iOS and other assets of Guuf LLC related to its business in eSports tournament. In a related transaction, AppSoft acquired CryptoGene by an assignment agreement with Marc Seal and entered into a series of service agreements and consulting agreements. AppSoft Technologies entered into a consulting agreement with Nathan Cavanaugh for a period of two years with a fee of $150 per hour subject to a cap amount of $5,000 per month or $60,000 per year. The transaction is subject to customary conditions and document completions under the agreement.
AppSoft Technologies, Inc. completed the acquisition of assets of Guuf LLC from Nathan Cavanaugh on June 10, 2016.
AppSoft Technologies, Inc. develops, publishes, and markets mobile software applications for smartphones and tablet devices (Apps) and owns and operates Esportsreporter.com, a news channel for esports enthusiasts. The Companyâs Apps titles include games designed to appeal to a broad cross section of consumers. It offers all of its game titles in both a free advertisement-supported version and a paid version that does not display advertisements. Esportsreporter.com publishes the relevant breaking news for esports and gaming, including coverage of industry trends and guides on the business of esports and gaming for investors and aspiring esports and gaming professionals. It markets, sells and distributes its games through Appleâs App Store, a direct-to-consumer digital storefront. It owns a portfolio comprising over 200 Apps titles, including games designed to appeal to a broad spectrum of consumers. Consumers download its Apps through the Apple App Store.