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

Issuer:     Nixxy, Inc. (NIXX)
CIK:        0001462223
Form:       8-K
Filed at:   2023-08-22T23:59:59+00:00
Accession:  0001654954-23-011142
Event type: m_and_a
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462223/000165495423011142/0001654954-23-011142-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462223/000165495423011142/rcrt_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-011142

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