Everything Blockchain, Inc. (EBZT): restructuring charge — Everything Blockchain sells EBControl and BuildDB for $3.3M, expects ~$20M impairment

Everything Blockchain, Inc.

Sold EBControl and BuildDB software to DataRock Technologies for $3.3M; includes settlement of $1.3M defaulted promissory note and assumption of $1.15M vendor debt.
Also includes assumption of $655K accrued payroll/benefits, $250K prepaid royalties, and $193K future royalty from sales of sold assets.
Craig T. Stevens, former board member and holder of defaulted note, is principal of DataRock; transaction with related party.
Company to impair goodwill and intangible assets by approximately $20M, to be reflected in next Form 10-Q.
Company had defaulted on senior secured promissory note of $1,302,956 owed to Stevens prior to agreement.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Everything Blockchain, Inc. announced a impairment with charges of approximately $20 million affecting EBControl and BuildDB software solutions.

Type: impairment
Charge: approximately $20 million
Affected area: EBControl and BuildDB software solutions

Exact text from the filing

the Company will impair its Goodwill and intangible assets associated with EBControl and BuildDB, which the Company expects to be approximately $20 million

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Everything Blockchain, Inc. filing history →

Source: SEC EDGAR

accession 0001477932-25-000067

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