Spindle, Inc. (OTCMKTS:SPDL) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01

ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On April 6, 2018, Spindle, Inc. (the “Company”) entered into a asset purchase agreement (the “Agreement”) whereby the Company will acquire substantially all of the assets of a privately held payments processing company (the “Acquisition”). In connection with the Acquisition, certain management of the target company would join the Company as the CEO and CTO upon closing. The Acquisition is scheduled to close on or before May 15, 2018. The purchase price for the scheduled assets will be paid in four installments. There are three conditions precedent to closing: (1) a third-party valuation of the assets must be conducted and result in a minimum threshold, (2) two key employees of the target company must agree to employment agreements with the Company, and (3) the Company must have sufficient funds to make the initial payment installment. A third party has a right of first refusal on certain assets to be purchased for a period of 30 days. The Agreement is attached hereto as Exhibit 10.1 with certain confidential information omitted and submitted to the Securities and Exchange Commission with a confidential treatment request.

ITEM 9.01

FINANCIALSTATEMENTS AND EXHIBITS

(d)

Exhibits

*

Portions of the exhibit have been omitted to a request for confidential treatment with the Securities and Exchange Commission.

**

Filed previously on the Company’s Current Report on Form 8-K filed with the SEC on April 9, 2018

SPINDLE, INC. Exhibit
EX-10.1 2 spdl_ex101.htm ASSET PURCHASE AGREEMENT DATED APRIL 6,…
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About Spindle, Inc. (OTCMKTS:SPDL)

Spindle Inc. (SPDL) provides commerce solutions for payment processing services, point-of-sale systems, and customer marketing to small and medium sized businesses. The Company enables businesses to sell their goods and services, accept payment, and create repeat sales though payment processing and marketing and loyalty programs. It operates as a payment facilitator (PF), which offers instant boarding to its merchants, and the Company has added traditional merchant services to its offering. The Company’s Yowza!! branded point-of-sale (POS) platform supplies business with a full commerce solution, which provides critical business functions, online ordering, inventory management and menu management, online ordering, mobile payment acceptance and Eurocard-MasterCard-Visa (EMV) compliance. It operates a self-service PF platform. As a PF, it provides services to merchants under a process defined by the card associations as Aggregation or Master Merchant.