hopTo Inc. (OTCMKTS:HPTO) Files An 8-K Entry into a Material Definitive Agreement
On December 28, 2018, the registrant entered into an agreement with an unaffiliated stockholder of the registrant to acquire 450,000 shares of the registrant’s common stock and warrants to purchase an aggregate of 48,896 shares of the registrant’s common stock for an aggregate cash consideration of $149,668.80. A copy of the purchase agreement is filed as Exhibit 10.1 to this report and incorporated herein by reference.
The registrant has agreed to assign its right to purchase shares under the Purchase Agreement as follows:
|●||330,000 shares to Novelty Capital Partners LP|
|●||120,000 shares to Thomas C. Stewart, a member of the registrant’s board of directors|
In connection with such assignment, the board of directors of the registrant waived the provisions of the registrant’s tax benefits protection plan to permit affiliates of Novelty Capital, LLC to own up to 19.9% of the outstanding shares of the registrant’s voting securities.
|Item 9.01||Exhibits and Financial Statements.|
|10.1||Letter agreement dated December 28, 2018|
hopTo Inc. Exhibit
EX-10.1 2 ex10-1.htm December 28,…
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About hopTo Inc. (OTCMKTS:HPTO)
hopTo Inc. is a developer of software productivity products for mobile devices, such as tablets and smartphones, and application publishing software solutions. The Company’s product line, which is called hopTo, is marketed to small and medium sized businesses, and enterprise level customers under the name hopTo Work, which is its primary focus in the hopTo product line. hopTo provides mobile end-users with a productivity workspace for their mobile devices that allows them to manage, share, view and edit their documents, regardless of where they are stored. The hopTo Work builds upon the hopTo consumer product, bringing its core mobile productivity features to small- to medium-sized business (SMB)/Enterprise users, with additional security and manageability functions. The Company’s GO-Global product offerings can be categorized into various product families, such as GO-Global for Windows, GO-Global for UNIX and GO-Global Client.