Nocera terminates planned 51% stake purchase in iTake due to accounting record issues

NOCERA, INC.

On Oct 31, 2022, Nocera terminated the iTake Purchase Agreement for a 51% controlling interest.
The agreement was entered on Sep 26, 2022, and terminated due to inaccessibility of iTake's accounting records.
The accounting records were necessary for Nocera's consolidation and audit purposes.
No financial terms of the termination were disclosed; the acquisition is abandoned.

item 1.02

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NOCERA, INC. terminated iTake Purchase Agreement with iTake Inc. (effective 2022-10-31).

Action: termination
Agreement: asset purchase
Counterparty: iTake Inc.
Effective: 2022-10-31

Exact text from the filing

On October 31, 2022, the iTake Purchase Agreement was terminated due to the inaccessibility of iTake’s accounting records necessary for the Company’s consolidation and audit purposes.

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NOCERA, INC. filing history →

Source: SEC EDGAR

accession 0001683168-22-007170

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