---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-011142"
form_type: "8-K"
ticker: "NIXX"
cik: "0001462223"
company_name: "Nixxy, Inc."
filed_at: "2023-08-22T23:59:59+00:00"
generated_at: "2026-06-11T05:32:52.953672+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Recruiter.com sells domain and platform to Job Mobz for $1.8M; Nasdaq deficiency notice

## Summary
- Asset sale price $1.8M: $1.5M at closing, $150K due 2 months post-close, $150K due 4 months post-close.
- Loan amendment with Montage extends maturity to earlier of 4 months post-close or Feb 28, 2024; consents to sale.
- Nasdaq notified company of min. stockholders' equity non-compliance (<$2.5M); compliance plan due Oct. 2, 2023.
- Closing expected Nov. 1, 2023; Buyer also receives 10% of Job Mobz Series A Preferred stock.
- Sale provides cash but company faces potential delisting if equity plan not accepted.

## SEC filing metadata
- accession: 0001654954-23-011142
- form_type: 8-K
- ticker: NIXX
- cik: 0001462223
- company_name: Nixxy, Inc.
- filed_at: 2023-08-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1462223/000165495423011142/0001654954-23-011142-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1462223/000165495423011142/rcrt_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-011142
- JSON: https://secwatch.observer/filing/0001654954-23-011142.json
- Plain text: https://secwatch.observer/filing/0001654954-23-011142.txt

## Key facts
- Debt Financings
  Nixxy, Inc. amended credit facility with Montage Capital II, L.P. maturing the earlier of (i) the four month anniversary of the initial closing of the Purchase Agreement or (ii) February 28, 2024.
  - Instrument: credit facility
  - Counterparty: Montage Capital II, L.P.
  - Maturity: the earlier of (i) the four month anniversary of the initial closing of the Purchase Agreement or (ii) February 28, 2024
  - Event: amendment
  source text: The Montage Amendment modifies that certain Loan and Security Agreement by and among the Company, its subsidiaries, and Montage, as amended (the “Loan and Security Agreement”) to join CognoGroup, Inc. as an additional borrower to the Loan and Security Agreement and amend and restate the definition of “Maturity Date” to the earlier of (i) the four month anniversary of the initial closing of the Purchase Agreement or (ii) February 28, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462223/000165495423011142/0001654954-23-011142-index.htm
- Listing & Compliance Notices
  Nixxy, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: stockholders equity
  - Rules: 5550(b)(1)
  source text: On August 17, 2022, the Company received a notification letter from the Nasdaq Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum stockholders’ equity requirements set forth in Nasdaq Listing Rule 5550(b)(1) (the “Minimum Stockholders’ Equity Requirement”) because (i) its stockholders’ equity as reported in its Quarterly Report on Form 10-Q for the period ended June 30, 2023 was not at least $2,500,000 and (ii) the Company does not currently meet the alternatives of market value of listed sec
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462223/000165495423011142/0001654954-23-011142-index.htm
- Material Agreements
  Nixxy, Inc. entered into Asset Purchase Agreement with Job Mobz Inc. valued at $1,800,000 (effective 2023-08-16).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Job Mobz Inc.
  - Value: $1,800,000
  - Effective: 2023-08-16
  source text: On August 16, 2023, Recruiter.com Group, Inc. (the “Company”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Job Mobz Inc., a California corporation (“Job Mobz”). Upon the terms and subject to the conditions of the Purchase Agreement, the Company has agreed to sell and assign its right, title, and interest in the domain name www.Recruiter.com and the assets generally used to operate the business associated therewith (the “Purchased Assets”) to Job Mobz for an aggregate purchase price of $1,800,000, subject to certain adjustments provided therein.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1462223/000165495423011142/0001654954-23-011142-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.