GOOD GAMING, INC. (OTCMKTS:GMER) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Agreement.
On September 27, 2018, Good Gaming, Inc. (the “Company”) and ViaOne Services, LLC, a Texas Limited Liability Company (“ViaOne”), entered into a Line of Credit Agreement (the “Agreement”), to which the Company issued a secured promissory note with the initial principal amount of $25,000 to ViaOne in exchange for a loan of $25,000 (the “Initial Loan Amount”). In accordance with this Agreement, the Company may request ViaOne to provide loans of up to $250,000, including the Initial Loan Amount, and ViaOne has the right to decide whether it will honor such request. The promissory note (the “Promissory Note “) which is Exhibit A to the Agreement states that the Initial Loan Amount shall become due on September 30, 2019 (the “Maturity Date”) and bears an interest rate of 8.0% per annum. The unpaid principal and interest of the Promissory Note after the Maturity Date shall accrue interest at a rate of 18.0% per annum. The principal amount of the Promissory Note may increase from time to time up to $250,000 in accordance with the terms and conditions of the Agreement. In connection with the Agreement and Promissory Note, the Company and ViaOne executed a security agreement dated September 27, 2018 whereby the Company granted ViaOne a security interest in all of its assets, including without limitation cash, inventory, account receivables, real property and intellectual properties, to secure the repayment of the loans made to the Agreement and Promissory Note.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
GOOD GAMING, INC. ExhibitEX-10.1 2 ex10-1.htm LINE OF CREDIT This Line of Credit (the “Line of Credit”),…To view the full exhibit click here
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.
