Dolphin Digital Media, Inc. (OTCMKTS:DPDM) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
Dolphin Digital Media, Inc. (OTCMKTS:DPDM) Files An 8-K Entry into a Material Definitive Agreement
Item 3.02Unregistered Sales of Equity Securities.
On February 16, 2017, Dolphin Digital Media, Inc., (the “Company”), entered into a subscription agreement with a private investor (the “Investor”), to which the Company issued and sold to the Investor 100,000 shares of the Company’s common stock, par value $0.015 per share (the “Shares”), at a purchase price of $5.00 per Share.The Company received $500,000 of gross proceeds as a result of the sale of Shares.
The Company issued the Shares in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation D promulgated thereunder. The Investor represented to the Company that such Investor was an “accredited investor” as defined in Rule 501(a) under the Securities Act and that such Investor’s Shares were being acquired for investment purposes.The Shares have not been registered under the Securities Act and are “restricted securities” as that term is defined by Rule 144 promulgated under the Securities Act.
About Dolphin Digital Media, Inc. (OTCMKTS:DPDM)
Dolphin Digital Media, Inc. (Dolphin) is engaged in the production and distribution of online digital content. The Company’s Dolphin Digital Studios division is a producer of original, high quality digital programming for online consumption. The Company’s segments include Dolphin Digital Media (USA) and Dolphin Digital Studios. The Company creates online kids clubs. Dolphin Digital Studios creates original programming that premieres online, with an initial focus on content geared toward tweens and teens. It also provides production services to a related party. The Company’s digital productions for advertiser supported video-on-demand (AVOD) platforms have premiered on online platforms, such as Hulu. Distribution agreements with online platforms are for approximately six months. Through its online kids clubs, the Company seeks to partner with various organizations to provide an online destination for entertainment and information for kids. Dolphin Digital Media, Inc. (OTCMKTS:DPDM) Recent Trading Information
Dolphin Digital Media, Inc. (OTCMKTS:DPDM) closed its last trading session 00.00 at 5.00 with 1,000 shares trading hands.
Dolphin Digital Media, Inc. (Dolphin) is engaged in the production and distribution of online digital content. The Company’s Dolphin Digital Studios division is a producer of original, high quality digital programming for online consumption. The Company’s segments include Dolphin Digital Media (USA) and Dolphin Digital Studios. The Company creates online kids clubs. Dolphin Digital Studios creates original programming that premieres online, with an initial focus on content geared toward tweens and teens. It also provides production services to a related party. The Company’s digital productions for advertiser supported video-on-demand (AVOD) platforms have premiered on online platforms, such as Hulu. Distribution agreements with online platforms are for approximately six months. Through its online kids clubs, the Company seeks to partner with various organizations to provide an online destination for entertainment and information for kids. Dolphin Digital Media, Inc. (OTCMKTS:DPDM) Recent Trading Information
Dolphin Digital Media, Inc. (OTCMKTS:DPDM) closed its last trading session 00.00 at 5.00 with 1,000 shares trading hands.
