Prism Technologies Group, Inc. (NASDAQ:PRZM) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry Into a Material Definitive Agreement
On December 22, 2017, Prism Technologies Group, Inc. (“Company”) and Amorphous Technologies International, Inc. (“ATI”) amended the Asset Purchase Agreement dated October 19, 2017. The amendment extends the date by which the Minimum Funding Requirement must be obtained to March 31, 2018 and permits the parties to agree to meet the Minimum Funding Requirement in installments.
Secondly, the amendment extends the Company’s Right to Unwind the Asset Purchase Transaction to the tenth business day after the Minimum Funding Requirement, or a periodic installment, is not achieved.
This description of the amendment is qualified in its entirety by the terms of the amendment, which is attached as Exhibit 10.13 to this Current Report on Form 8-K.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 22, 2017, Mr. Dennis Chookaszian and Mr. James Corroon resigned from the Board of Directors of the Company. The resignations were effective immediately. Neither Mr. Chookaszian’s nor Mr. Corroon’s resignation is due to any disagreement with the Company on any matter relating to its operations, policies or practices.
Item 9.01 Financial Statements and Exhibits.
The following exhibit is filed herewith:
Prism Technologies Group, Inc. ExhibitEX-10.13 2 ex_102459.htm EXHIBIT 10.13 ex_102459.htm Exhibit 10.13 AMENDMENT ONE TO ASSET PURCHASE AGREEMENT This Amendment One to the Asset Purchase Agreement dated October 19,…To view the full exhibit click
About Prism Technologies Group, Inc. (NASDAQ:PRZM)
Prism Technologies Group, Inc., formerly Internet Patents Corporation, is engaged in the business of licensing and enforcing a portfolio of patents relating to technologies developed by it. The Company’s subsidiary is Prism Technologies, LLC (Prism). Prism has two primary operating subsidiaries: Secure Axcess, LLC and Millenium Biologix, LLC. Prism also operates an intellectual property licensing and enforcement business. The Company and its subsidiaries own a portfolio of patents with over 50 issued patents in the areas of computer and network security, semiconductors and medical technology. The Company’s patent portfolio includes Gregg Patents for device authentication and access to protected resources; Glazer Patents for image recognition and Website authentication; Weber Patents for multiple screen computer display; Pugh Patents for synthetic biomaterial compound; Wallace Patents for encrypted cookies, and Quizid Patents for authentication tokens.