MGT Capital Investments, Inc. (OTCMKTS:MGTI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On March 3, 2017, MGT Capital Investments, Inc., a Delaware
corporation (MGT) and Future Tense Systems Inc., a Colorado
corporation (Future Tense) entered into the Demonsaw LLC
Membership Interest Purchase Agreement (the Purchase Agreement).
to the Purchase Agreement, Future Tense sold its 46% membership
interest in Demonsaw, LLC, a Delaware limited liability company
for 2,000,000 unregistered shares of MGTs common stock. Janice
Dyson, the wife of MGTs Chairman and Chief Executive Officer John
McAfee, is the sole director and one-third equity owner of Future
Tense.
The foregoing description of the Purchase Agreement does not
purport to be complete and is qualified in its entirety by
reference to the full text of the Purchase Agreement, which is
filed as Exhibit 10.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
Item 3.02 Unregistered Sale of Equity
Securities.
The information contained in Item 1.01 is hereby incorporated by
reference.
Item 7.01 Regulation FD Disclosure
On March 3, 2017, the Company issued a Press Release. A copy of
the Press Release is attached as Exhibit 99.1 hereto.
The information in this Current Report on Form 8-K furnished to
Item 7.01 shall not be deemed filed for the purposes of Section
18 of the Exchange Act, or otherwise subject to the liabilities
of that Section. This information shall not be incorporated by
reference into any registration statement to the Securities Act.
The furnishing of the information in this Current Report on Form
8-K is not intended to, and does not, constitute a representation
that such furnishing is required by Regulation FD or that the
information contained in this Current Report on Form 8-K
constitutes material investor information that is not otherwise
publicly available.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit | Description | |
| 10.1 |
Demonsaw LLC Membership Interest Purchase Agreement Between Future Tense Secure Systems Inc. and MGT Capital Investments, Inc. |
|
| 99.1 | Press Release dated March 3, 2017 |
About MGT Capital Investments, Inc. (OTCMKTS:MGTI)
MGT Capital Investments, Inc. (MGT), through its subsidiaries, is engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space, as well as the social casino industry. The Company operates through two segments: Gaming and Intellectual Property. MGT’s gaming portfolio includes a social casino platform Slot Champ. It also includes minority stakes in the skill-based gaming platform MGT Play and fantasy sports operator DraftDay Gaming Group, Inc. (DDGG). The Company’s subsidiaries include Medicsight, Inc. (Medicsight), MGT Sports, Inc. (MGT Sports), MGT Studios, Inc. (MGT Studios) and MGT Gaming, Inc. (MGT Gaming). Medicsight owns medical imaging software and has designed an automated carbon dioxide insufflation device on which the Company receives royalties from an international distributor. The software is designed to detect colorectal polyps during a virtual colonoscopy performed using computed tomography. MGT Capital Investments, Inc. (OTCMKTS:MGTI) Recent Trading Information
MGT Capital Investments, Inc. (OTCMKTS:MGTI) closed its last trading session down -0.110 at 0.850 with 98,733 shares trading hands.