secwatch / observer
8-K filed March 15, 2023, 7:59 PM ET ticker GTCH CIK 0001471781
other material confidence high sentiment neutral materiality 0.60

GBT terminates Metaverse JV; settlement includes $5,000 payment, share surrender

GBT Technologies Inc.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

GBT Technologies Inc. terminated Settlement Agreement and Release with Ildar Gainulin and Maria Belova valued at The Metaverse Agreement, Metaverse APA and Consulting Agreement are void and cancelled; Licensor pay (effective 2023-03-14).

Action
termination
Agreement
settlement
Counterparty
Ildar Gainulin and Maria Belova
Value
The Metaverse Agreement, Metaverse APA and Consulting Agreement are void and cancelled; Licensor pay
Effective
2023-03-14
Exact text from the filing
On March 14, 2023, the Company received a counter signed Settlement Agreement and Release by Licensor dated March 2, 2023 (“Settlement Agreement”). Pursuant to the Settlement Agreement, the parties agreed that Metaverse Agreement, the Metaverse APA and the Consulting Agreement are void and cancelled.
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.85

GBT Technologies Inc. entered into Consulting Agreement with Metaverse Kit Corp., Licensor and Elentina Group, LLC valued at Each consulting engagement for $25,000 per month payable quarterly, term two years. (effective 2022-06-10).

Action
entry
Counterparty
Metaverse Kit Corp., Licensor and Elentina Group, LLC
Value
Each consulting engagement for $25,000 per month payable quarterly, term two years.
Effective
2022-06-10
Exact text from the filing
Metaverse Kit, Licensor and Elentina Group, LLC (“Elentina”) entered into a Consulting Agreements in which IGBM and Elentina, each were engaged to provide services in consideration of $25,000 per month payable quarterly which Metaverse Kit has the option to pay in shares of common stock calculated by the amount owed divided by the Company’s 10-day VWAP.
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GBT Technologies Inc. entered into Asset Purchase Agreement (Metaverse APA) with Ildar Gainulin and Maria Belova valued at Licensor sold Metaverse Kit all source codes pertaining to the Meta Portfolio. (effective 2022-06-10).

Action
entry
Agreement
asset purchase
Counterparty
Ildar Gainulin and Maria Belova
Value
Licensor sold Metaverse Kit all source codes pertaining to the Meta Portfolio.
Effective
2022-06-10
Exact text from the filing
the parties entered an Asset Purchase Agreement (the “Metaverse APA”) concurrently with the Metaverse Agreement whereby Licensor sold Metaverse Kit all source codes pertaining to the Meta Portfolio.
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

GBT Technologies Inc. entered into Joint Venture and Territorial License Agreement with Ildar Gainulin and Maria Belova valued at The Company contributed 500,000,000 shares of common stock; parties each own 50% of Metaverse Kit Co (effective 2022-06-10).

Action
entry
Agreement
license
Counterparty
Ildar Gainulin and Maria Belova
Value
The Company contributed 500,000,000 shares of common stock; parties each own 50% of Metaverse Kit Co
Effective
2022-06-10
Exact text from the filing
On June 10, 2022, GBT Technologies, Inc. (the “Company”), entered into a Joint Venture and Territorial License Agreement (the “Metaverse Agreement”) with Ildar Gainulin and Maria Belova (collectively, the “Licensor”).
View on SEC.gov

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GBT Technologies Inc. filing history →

Source: SEC EDGAR
accession 0001731122-23-000367
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