OMINTO, INC. (OTCMKTS:OMNT) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01Completion of Acquisition or Disposition of Assets
On December 13, 2016, Ominto, Inc. (Ominto), a Nevada
corporation, filed a Current Report on Form 8-K (the Initial
Form 8-K) with the Securities and Exchange Commission (the
SEC) reporting that on December 13, 2016, Ominto entered
into the following:
| (i) |
a share exchange agreement to purchase 20.0% of the outstanding shares of common stock of Lani Pixels from Lani Pixels in exchange for one million two hundred eighty-five thousand seven hundred fourteen (1,285,714) shares of Omintos common stock; and |
| (ii) |
a share exchange agreement to purchase 20.0% of the outstanding shares of common stock of Lani Pixels from Kim Pagel for $500,000 in cash and the issuance of one million one hundred forty-two thousand eight hundred fifty-seven (1,142,857) shares of Omintos common stock. |
In its Quarterly Report on Form 10-Q filed February 14, 2017,
Ominto disclosed that on December 13, 2016, Ominto also entered
into a share purchase agreement with a 10% shareholder of Lani
Pixels who is also a shareholder of Ominto, Paseco ApS
(Paseco) to purchase an additional .02% of the issued and
outstanding shares of Lani Pixels in exchange for a $4,000
promissory note that matures on February 28, 2017. In addition,
Ominto signed a voting rights agreement with Paseco on December
13, 2016 granting Ominto the irrevocable right to vote Pasecos
shares in Omintos favor. Additionally, Ominto holds a majority of
the seats on the Board of Directors of Lani Pixels.
Item 9.01Financial Statements and Exhibits.
(a)Financial Statements of a Business Acquired.
Lani Pixels audited consolidated financial statements as of and
for the years ended December 31, 2016, and 2015 are not yet
complete due to unforeseen delays. Lani Pixels audited financial
statements will be filed with a future Form 8-K/A as soon as they
become available.
(b)Pro Forma Financial Information.
Unaudited pro forma condensed combined statements of operations
of Ominto with Lani Pixels for the fiscal year ended September
30, 2016 and for the three months ended December 31, 2016, giving
effect to the transaction as if it had occurred at the beginning
of Omintos last completed fiscal year are incorporated herein by
reference.
| Exhibit No. | Description | Location | ||
| 99.1 |
Unaudited pro forma condensed combined statement of operations for the fiscal yearended September 30, 2016 and three months ended December 31, 2016 |
Filed herewith |
About OMINTO, INC. (OTCMKTS:OMNT)
Ominto, Inc. (Ominto), formerly DubLi, Inc., is engaged in online cash back shopping. The Company’s shopping portal serves customers in approximately 100 countries. Using its consumer-adaptive e-commerce sites, shoppers are linked and can browse third party Websites with different categories of products, which Websites feature, including international and local brands, travel, coupons, discounts and vouchers. The Company offers its product and service lines in the E-Commerce and Memberships segment, which includes business license fees, membership subscription fees and commission income, and advertising and marketing programs. The Company has adapted its Cash Back platform to serve over 10 international markets in approximately 10 languages and currencies. Its Websites feature various regional and international brands, including Amazon.com, Zalando, Groupon and Expedia. Its e-commerce platform allows consumers to shop at online stores and earn cash back with each purchase. OMINTO, INC. (OTCMKTS:OMNT) Recent Trading Information
OMINTO, INC. (OTCMKTS:OMNT) closed its last trading session down -0.30 at 5.90 with 2,315 shares trading hands.