secwatch.observer — SEC 8-K summary
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Issuer:     Nixxy, Inc. (NIXX)
CIK:        0001462223
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001654954-23-010602
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Recruiter.com sells client contracts and staff for $500K in stock plus earnout; extends note maturity
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- Sold client contracts and associated staff to Insigma and Akvarr (Futuris units) for $500K in FTRS stock plus up to $2M earnout.
- Amended $1M promissory notes with Calvary Fund; maturity extended 180 days in exchange for $50K in stock or cash.
- Pro forma gain on sale estimated at $1.588M; assets removed from ongoing operations.
- Disposition reduces revenue and cost of goods sold; general corporate overhead continues post-closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462223/000165495423010602/0001654954-23-010602-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462223/000165495423010602/rcrt_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-010602

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