Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Nixxy, Inc. entered into Technology License and Commercialization Agreement with GoLogiq, Inc. valued at Worldwide exclusive license of fintech technology (Createapp, Paylogiq, Gologiq, Radix AI) for 10-ye (effective 2024-02-23).
- Action
- entry
- Agreement
- license
- Counterparty
- GoLogiq, Inc.
- Value
- Worldwide exclusive license of fintech technology (Createapp, Paylogiq, Gologiq, Radix AI) for 10-ye
- Effective
- 2024-02-23
Exact text from the filing
On February 23, 2024, the Company entered into a certain Technology License and Commercialization Agreement (the “GOLQ Licensing Agreement”) with GoLogiq, Inc. (“GOLQ”) whereby GOLQ grants the Company a worldwide, exclusive license (the “GOLQ License”) to the Company to develop its fintech technology (the “GOLQ Technology”) and sell products derived thereof, including its Createapp, Paylogiq, Gologiq, and Radix AI technology and products (the “Licensed Products”), for a term of 10 years, with automatic two (2) year renewals as further described therein (the “Term”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Nixxy, Inc. amended Amendment to Technology License and Commercialization Agreement with GoLogiq, Inc. valued at Added Section 3.3 on technical assistance; amended royalty from 8% to 5%; Company agreed to grant wa (effective 2024-03-28).
- Action
- amendment
- Agreement
- license
- Counterparty
- GoLogiq, Inc.
- Value
- Added Section 3.3 on technical assistance; amended royalty from 8% to 5%; Company agreed to grant wa
- Effective
- 2024-03-28
Exact text from the filing
On March 28, 2024 (the “Effective Date”), the Company and GOLQ entered into an Amendment to Technology License and Commercialization Agreement (the “Amendment”). Under the Amendment, the Company and GOLQ agreed to and added Section 3.3 to further detail technical assistance from GOLQ to the Company. In addition, Section 5.1 was amended such that the royalty was lowered from eight percent (8%) to five percent (5%) for which the Company agreed to grant GOLQ a warrant (the “Warrant”) to purchase two hundred ninety-two thousand (292,000) shares of Company Common Stock (the “Warrant Shares”) for a price equal to $0.01 per share (the “Exercise Price”).
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