Cyberloq Technologies enters integration agreement with QRails; pays $100k, will receive $5k/month API fee

CYBERLOQ TECHNOLOGIES, INC.

Agreement integrates CyberloQ's multi-factor security into QRails' card processing platform.
Cyberloq to pay QRails $100,000 in installments; QRails pays minimum $5,000/month API fee for six months.
Integration starts immediately; completion expected in Q2 or Q3 2024.
Integration also covers XTM, Inc., which acquired QRails in August 2023.

item 1.01

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

CYBERLOQ TECHNOLOGIES, INC. entered into a collaboration with QRails, Inc. valued at $100,000 (effective 2023-09-25).

Action: entry
Agreement: collaboration
Counterparty: QRails, Inc.
Value: $100,000
Effective: 2023-09-25

Exact text from the filing

On September 25, 2023, Cyberloq Technologies, Inc., a Nevada corporation (the “Company”) entered into an agreement with QRails, Inc. (“QRails”) to integrate the features of CyberloQ® and its multi-factor security protocol into QRails’ processing platform.

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Source: SEC EDGAR

accession 0001493152-23-034401

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