Treasure Global issues 10M shares for software development services valued at $1M

TREASURE GLOBAL INC

Entered Software Development Agreement with VT Smart Venture Sdn Bhd for services in exchange for 10,000,000 shares valued at $0.10 each.
Shares are restricted, not listed on any exchange; issuance under Section 4(a)(2) exemption.
Agreement term is one month; no renewal option; shares issued within 5 business days.
Developer to provide software design, AI, and media platform development services.
Post-delivery support period of six months included.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TREASURE GLOBAL INC entered into Software Development Agreement with VT Smart Venture Sdn Bhd valued at $1,000,000 worth of common stock, or 10,000,000 shares valued at USD $0.10 per share (effective 2023-12-19).

Action: entry
Counterparty: VT Smart Venture Sdn Bhd
Value: $1,000,000 worth of common stock, or 10,000,000 shares valued at USD $0.10 per share
Effective: 2023-12-19

Exact text from the filing

On December 19, 2023, Treasure Global Inc (the “Company”) and VT Smart Venture Sdn Bhd (the “Developer”), a company that is in the business of, among other things, technology services, entered into a Software Development Agreement (the “Agreement”), in which the Developer shall provide application, services and turnkey solutions on software development in various aspects, including customization, software design layout, creative media platform development, artificial embedded and artificial intelligence related media platform and design in exchange for USD$1,000,000 worth of common stock, par value $0.00001 per share, of the Company, or 10,000,000 shares valued at USD $0.10 per share (the “TGL Shares”).

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Source: SEC EDGAR

accession 0001213900-23-097468

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