AppYea, Inc. (OTCMKTS:APYP) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On June 9, 2017, the Company entered into a Management Services
Agreement (MSA) with The Diagnostic Group, LLC, A Delaware
limited liability company (TDG) under the terms of which, the
Company shall perform activities related to direct marketing of
TDG products and services to healthcare providers. The initial
term of the Agreement will be for thirty-six (36) months from the
effective date. The MSA shall automatically renew for successive
one (1) year terms, unless either Party gives the other
Party ninety (90) days written notice of termination prior to the
effective date of any renewal term, or unless the MSA is
terminated earlier in accordance with Section 6 of the MSA. The
Company will be paid for providing services to directly recruited
customers at the rate of 35% of the Net Collected Revenue
collected from non-federally funded payors by third party
providers affiliated or contracted with TDG for ancillary
services ordered by recruited customers less any lab specific
costs related to any referred samples and/or services and less
any refunds or chargebacks. The Company will be paid by the
15th of each month for Net Collected Revenue from the
previous month. The MSA is attached as exhibit 10.1 to this Form
8-K, and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
In reviewing the agreements included or incorporated by reference
as exhibits to this Current Report on Form 8-K, please remember
that they are included to provide you with information regarding
their terms and are not intended to provide any other factual or
disclosure about the Company or the other parties to the
agreements. The agreements may contain representations and
warranties by each of the parties to the applicable agreement.
These representations and warranties have been made solely for
the benefit of the parties to the applicable agreement and
accordingly, these representations and warranties may not
describe the actual state of affairs as of the date they were
made or at any other time. Additional information about the
Company may be found elsewhere in this Current Report on Form 8-K
and in our other public filings, which are available without
charge through the SECs website at http://www.sec.gov.
Management Services Agreement dated June 9, 2017.
About AppYea, Inc. (OTCMKTS:APYP)
AppYea, Inc. is a development-stage company. The Company is engaged in the acquisition, purchase, maintenance and creation of mobile software applications. The Company focuses on various categories, including social networks and gaming. The Company’s portfolio includes Disney/Universal Theme Park Wait Time Map Apps, Katsomoto Games and StreamMe. As of June 30, 2016, the Company had 85 published mobile applications in five different languages. The Company’s primary products are mobile applications. The Company develops internal mobile applications and also acquires existing mobile applications. The Company focuses on acquiring mobile applications that are in development, as well as mobile applications that are ready to be presented to the public. The Company focuses to market and sell its developed and acquired mobile applications under its own name.