GOOD GAMING, INC. (OTCMKTS:GMER) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
On September 21, 2018, Good Gaming, Inc. (the “Company”) entered into a modification agreement with RedDiamond Partners, Inc. (“RDI”) relating to the remaining shares of Series D preferred stock held by RDI. to such agreement, the previous defaults under the Certificate of Designation relating to the Series D Preferred Stock were waived and accordingly the default provisions are not in effect anymore which allowed RDI to convert at the default rate and instead will convert at a 25% discount to the average of the five lowest trading days out of the 20 days’ prior to conversion which was the original discount provided for in the agreement. The Company agreed to redeem 46.531 of the remaining 93.062 shares over the next 3 months and cancel such shares without conversion. RDI also agreed to certain sale prohibitions which limit the amount of shares that they can sell in any month for the next three months.
On September 21, 2018, the Company entered into a modification agreement with HGT Capital LLC (“HGT”) with respect to their convertible promissory note which has a balance of $107,238. to such modification agreement, all defaults were waived and it was agreed that the HGT note will convert at a 25% discount to the market rather than the default rate. HGT also agreed to certain sale prohibitions which limit the amount of shares that they can sell in any month for the next three months. HGT also agreed to dismiss, with prejudice, the lawsuit that it had filed against the Company.
These modification agreements address the only remaining convertible securities that are owned by non-related parties.
Item 9.01.Financial Statements and Exhibits.
GOOD GAMING, INC. ExhibitEX-10.1 2 ex10-1.htm MODIFICATION AGREEMENT MODIFICATION AGREEMENT (this “Agreement”),…To view the full exhibit click
About GOOD GAMING, INC. (OTCMKTS:GMER)
Good Gaming, Inc., formerly HDS International Corporation, offers a tournament gaming platform and online destination to over 205 million e-sports players and participants across the world. With its technology platform, the Company offers publishers and vendors an approach to gaming interactions. The Company’s platform allows for integration of third party applications, as well as integration into other existing systems. This framework allows for clans/teams/guilds to add functionality over time to include running their own tournaments leveraging the viral nature of the online communities. The Company offers social networking functionality, which helps gamers to interact, track each other and communicate. The Company provides a content suite to offer videos, blogs, and forums. In addition, the Company focuses on hosting multiple games online that subscribers to the site can play for free or for fees depending on player level.