FTE NETWORKS, INC. (OTCMKTS:FTNW) Files An 8-K Entry into a Material Definitive Agreement
ME Staff 8-k
FTE NETWORKS, INC. (OTCMKTS:FTNW) Files An 8-K Entry into a Material Definitive Agreement Item 1.01
The information set forth in Item 2.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 1.01.
On January 16, 2020, FTE Networks, Inc. (“FTE” or the “Company”) sold its CrossLayer business to CBFA Corporation, a Wyoming corporation (the “Buyer”) controlled by a CrossLayer employee, Arlin Bleclic. The purchase price paid by the Buyer included the assumption of approximately $73,477.51 in accounts payable of the CrossLayer business and the assumption of obligations under CrossLayer’s contracts with its principal customers.
On January 23, 2020, the Company issued a press release announcing the sale of CrossLayer. A copy of this release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
(d) Exhibits
FTE Networks, Inc. Exhibit EX-99.1 2 ex99-1.htm Exhibit 99.1 FTE Networks Announces Strategic Sale of CrossLayer,… To view the full exhibit click here
About FTE NETWORKS, INC. (OTCMKTS:FTNW)
FTE Networks, Inc., (FTE Networks) is a provider of international and regional telecommunications and technology systems, and infrastructure services. The Company’s segments are Telecommunications and Staffing. It also offers managed information technology, telecommunications services, subscriber-based services and staffing solutions through its subsidiaries, Jus-Com, Inc. (doing business as FTE Network Services), FTE Wireless, LLC and Focus Venture Partners, Inc. (doing business as FVP Worx). Its services include engineering consulting, design, installation, maintenance and emergency response in various categories, including cabling, equipment installation and configuration, rack and stack, wiring build-outs, infrastructure build-outs, direct current power installation, online service provider/Internet service provider fiber placement, fiber cable splicing and testing. In the wireless space, it provides engineering, design, installation and upgrade of wireless communications networks.
