Smith Micro Software, Inc. (NASDAQ:SMSI) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.Entry into a Material Definitive Agreement.
On March31, 2017, Smith Micro Software, Inc. (the
Company) entered into a short-term secured
borrowing arrangement with Steven L. Elfman and Monique P. Elfman
(Elfman) to which Elfman loaned to the Company
$1,000,000 and the Company issued to Elfman a Secured Promissory
Note (the Note) bearing interest at the rate of
18%per annum. The Note is due on or before June23, 2017 and is
secured by the Companys accounts receivable and certain other
assets. The foregoing description of the Note is qualified by
reference to the complete text of the Note which is filed as an
exhibit to this Current Report on Form 8-K.
Item9.01Financial Statement and Exhibits.
|10.1||Elfman Secured Promissory, dated March31, 2017|
About Smith Micro Software, Inc. (NASDAQ:SMSI)
Smith Micro Software, Inc. is a provider of software solutions. The Company operates through two segments: Wireless and Graphics. The Company offers multi-platform, modular solutions organized into three product families, including NetWise, CommSuite and QuickLink. For mobile network operators, NetWise helps reduce cellular congestion and optimize data traffic across third-generation (3G), fourth-generation (4G) and wireless fidelity (Wi-Fi) networks. Graphics segment includes its consumer-based products, such as Poser, Anime Studio, Manga Studio, MotionArtist and StuffIt. The Graphics segment develops a range of software, including graphic design and animation, compression and personal computer (PC)/Mac utilities, for consumers, professional artists and educators. The Company also offers Family Safety platform for family locator and parental controls. Smith Micro Software, Inc. (NASDAQ:SMSI) Recent Trading Information
Smith Micro Software, Inc. (NASDAQ:SMSI) closed its last trading session down -0.020 at 0.910 with 60,581 shares trading hands.