secwatch.observer — SEC 8-K summary
======================================

Issuer:     KonaTel, Inc. (KTEL)
CIK:        0000845819
Form:       8-K
Filed at:   2023-04-17T23:59:59+00:00
Accession:  0001515971-23-000045
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KonaTel assigns rights to acquire Tempo Telecom to Insight Mobile for $4.5M
---------------------------------------------------------------------------

- On April 6, 2023, KonaTel assigned its membership interest purchase agreement for Tempo Telecom to Insight Mobile for $4.5M.
- Payment: $500K deposit upon signing, $250K upon MDA activation, $4M upon receipt of required government approvals.
- Assignment contingent on FCC and state approvals; Drop Dead Date is June 1, 2024.
- If terminated without Cause, KonaTel receives $250K break-up fee (50% of deposit).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/845819/000151597123000045/0001515971-23-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/845819/000151597123000045/ktel8k041623.htm
  HTML page:      https://secwatch.observer/filing/0001515971-23-000045

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer