Agora Holdings, Inc. (OTCMKTS:AGHI) Files An 8-K Termination of a Material Definitive AgreementItem 1.02 Termination of a Material Definitive Agreement
On June 12, 2017, Agora Holdings, Inc., a Utah corporation ("we" or the "Company"), entered into an Equity Purchase Agreement (the "Agreement") whereby the Company agreed to acquire all of the outstanding common shares of 9706801 Canada, Inc. d/b/a RiNet Telecom ("RiNet"), a company engaged in the deployment, modernization and maintenance of telecommunications networks (the "Acquisition").RiNet is owned solely by Danail Terziev, a director of the Company and our controlling shareholder.On June 12, 2017 (the "Closing Date"), the parties executed the Agreement for the Acquisition. Upon the Closing Date, it was intended that the Company exhange the common shares of RiNet in exchange for 20,000,000 shares of the Company's restricted common stock.The Acquisition was subject to customary closing conditions.
On January 22, 2018 the Company's board of directors and RiNet mutually agreed to terminate the June 12, 2017 Agreement and to rescind the aforementioned Acquisition. The Company had not issued the 20,000,000 consideration shares as contemplated by the Agreement and the controlling shareholder of RiNet had not transferred ownership to the Company.
A copy of the Agreement to Rescind and Terminate is filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The exhibits listed in the following Exhibit Index are filed as part of this Current Report on Form 8-K.
10.1 Agreement to Rescind and Terminate
Agora Holdings, Inc. ExhibitEX-10.1 2 ex101.htm AGREEMENT TO RESCIND AND TERMINATE AGREEMENT TO RESCIND AND TERMINATE This Agreement to Rescind and Terminate (“Agreement”) is entered into on this 22nd day of January,…To view the full exhibit click here
About Agora Holdings, Inc. (OTCMKTS:AGHI)
Agora Holdings, Inc. is a holding company with interests in the media and software applications. The Company, through its subsidiary Geegle Media Ltd. (Geegle), is engaged in the business of software development, specializing in Web, media and low-power television (lpTV) applications, as well as operating support billing software for Voice over Internet Protocol (VOIP) telephony. The Company is focusing its applications on television streaming for the European, Canadian and the United States markets. The Company focuses on the development and marketing of video software for Web television, which it manages through the domain www.geegle.tv. Geegle TV is an international, automated platform that can deliver content from any source into any country provided the Company has rights to that content. It provides Website development services and billing software services, along with customized domain services, including online marketing for these domains.
