HELIX TCS, INC. (OTCMKTS:HLIX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
On February 10, 2020, Helix TCS, Inc. and Bio-Tech Medical Software, Inc. (together, the “Company”) and Advantage Platform Services Inc. (“Advantage”) entered into an Agreement for the Purchase and Sale of Future Receipts (the “Agreement”). to the terms and conditions of the Agreement, the Company sold to Advantage 15% of the proceeds of future sales made by the Company, up to $660,000 (“Future Sales Amount”), for an immediate cash payment by Advantage of $500,000 (“Purchase Price”). The Agreement includes an origination fee of $15,000, which was deducted from the Purchase Price, and weekly payments of $15,000 for eight weeks followed by weekly payments of $20,000 to be made by the Company to Advantage until the Future Sales Amount is paid in full. The Agreement further provides for reduced repayment amounts if paid in full by the Company prior to 120 days after payment of the Purchase Price. The Agreement contains customary and standard terms with respect to these types of purchase agreements.
The foregoing summary of the material terms of the Agreement is subject to the full and complete terms of the Agreement attached hereto as Exhibit 10.54 and incorporated herein by reference.
The disclosure in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item.
| 10.54 | Agreement for the Purchase and Sale of Future Receipts.* |
| * | Certain confidential information contained in this agreement has been omitted because it is not material and would be competitively harmful if publicly disclosed. |
Helix TCS, Inc. Exhibit
EX-10.54 2 f8k021020ex10-54_helixtcs.htm AGREEMENT FOR THE PURCHASE AND SALE OF FUTURE RECEIPTS Exhibit 10.54 [***] Certain information in this document has been excluded pursuant to Regulation S-K,…
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About HELIX TCS, INC. (OTCMKTS:HLIX)
Helix TCS, Inc. is a provider of integrated operating environment solutions for the legal cannabis industry. The Company provides security, compliance, and technology services to the legal cannabis industry. Its technology service offers clients a technology platform, allowing clients to manage inventory and supply costs through Cannabase, as well as bespoke monitoring and transport solutions. It focuses on utilizing technology as an operations multiplier, bringing in and managing a range of partnerships across the technology spectrum to give desired outcomes for its clients. The Company develops a range of compliance services to firms in the cannabis industry. It safeguards the clients’ ability to operate while increasing their access to services. The Company delivers a range of security operations, such as transport, armed and unarmed guarding, training, investigation and special services. Its include Cannabase, BOSS Security Solutions, Helix TCS LLC and Security Consultants LLC.