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GROTE MOLEN, INC. (OTCBB:GROT) Files An 8-K Entry into a Material Definitive Agreement

GROTE MOLEN, INC. (OTCBB:GROT) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01 Entry Into a Material Definitive Agreement.

Reference is made to the disclosure made under Item 2.01 of this
Report which is incorporated herein by reference.
Item 2.01 Completion of Acquisition or Disposition of Assets.
On March 31, 2017, Grote Molen, Inc., a Nevada corporation (the
“Registrant”), completed the sale of substantially all the
assets, other than cash, used in or connection with the
Registrant’s home grain mill and kitchen mixer business to John
Hofman and Bruce Crane, former officers and directors of the
Registrant, in consideration for the assumption by such persons
of substantially all the liabilities incurred by the Registrant
in connection with such business and their agreement to indemnify
and defend the Registrant against any losses actually incurred or
suffered by the Registrant relating to or arising out of such
business. The assets acquired consisted of the non-cybersecurity
assets of the Registrant and included accounts receivable,
inventory, deposits, property and equipment and intangible
assets. The liabilities assumed included the non-cybersecurity
liabilities of the Registrant and included accounts payable and
accrued expenses and long and short-term notes payable and
accrued interest thereon. The new Board of Directors of the
Registrant, all of whom were disinterested with regard to the
transaction, unanimously approved the transaction in a board
meeting held on March 27, 2017 as it allows the Registrant to
focus all of its energies on the cybersecurity business acquired
as part of the Registrant’s recent merger with BlackRidge
Technology Holdings, Inc.
The sale was effected to an Asset Purchase Agreement, dated as of
March 31, 2017, among the Registrant, as the seller, and John
Hofman and Bruce Crane as the purchaser.
The foregoing summary of the Asset Purchase Agreement is
qualified in its entirety by reference to the agreement, a copy
of which is included as an exhibit to this report.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number
SEC
Reference
Number
Title of Document
Location
10.1
Asset Purchase Agreement Among the Registrant and John
Hofman and Bruce Crane dated as of March 31, 2017
This Filing

GROTE MOLEN, INC. (OTCBB:GROT) Recent Trading Information
GROTE MOLEN, INC. (OTCBB:GROT) closed its last trading session at 0.0000 with shares trading hands.

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