SITO MOBILE, LTD. (NASDAQ:SITO) Files An 8-K Other Events
Item 8.01 Other Events.
On February 7, 2017, SITO Mobile, Ltd., a Delaware corporation
(the Company), together with its wholly-owned subsidiary, SITO
Mobile Solutions, Inc., a Nevada corporation (the Seller),
entered into an Asset Purchase Agreement (the Agreement) with
3Cinteractive Corp., a Delaware corporation (the Buyer). to the
terms and subject to the conditions set forth in the Agreement,
on February 7, 2017, Buyer acquired from Seller certain assets as
set forth in the Agreement in exchange for $400,000 cash
consideration by Buyer to Seller, of which $310,000 was received
on the closing date and the remaining $90,000 will be paid upon
the satisfaction of certain post-closing covenants.
The Agreement contains customary representations, warranties and
covenants, including customary non-solicitation, non-competition
and confidentiality covenants. The Agreement also includes an
indemnity from Seller for breaches of representations, warranties
and covenants and in respect of the excluded liabilities and
excluded assets.
The Company does not expect the consummation of the transactions
described above to result in a material gain or loss in its
results of operations.
A copy of the press release is attached hereto as Exhibit 99.1
and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
| Exhibit No. | Description | |
|
99.1 |
Press Release dated February 8, 2017 |
About SITO MOBILE, LTD. (NASDAQ:SITO)
SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization. Geo-fencing targets customers within a certain radius of location and uses technology to push coupons, advertisements and promotions to mobile applications. Verified Walk-in tracks foot-traffic to locations and which advertisements drive action. Behavioral Targeting tracks past behaviors over 30 to 90 day increments allowing for real-time campaign management. Analytics and Optimization is a culling and building measurement system. SITO Mobile Messaging is a platform for building and controlling programs, including messaging and customer incentive programs. SITO MOBILE, LTD. (NASDAQ:SITO) Recent Trading Information
SITO MOBILE, LTD. (NASDAQ:SITO) closed its last trading session down -0.02 at 2.18 with 44,034 shares trading hands.
