UBIQUITY, INC. (OTCMKTS:UBIQ) Files An 8-K Other EventsItem 8.01 Other Information
Judgment vacated and case dismissed
On July 10, 2017, the default judgment previously entered on October 28, 2016 in the matter entitled Gerald D.W. North v. Ubiquity, Inc., et al, Case Number 16 C 5698, in the United Stated District Court of the Northern District of Illinois, was vacated, and the case dismissed for lack of personal jurisdiction over the Company. The default judgment for $7.7 million was reflected on the Company’s financial statements and notes thereto for the periods through December 31, 2015, and the financial impact of the dismissal will be reflected on the Company’s quarterly report for the period ended September 30, 2017, and thereafter.
Item 8.01. Other Events
On July 11, 2017, the Company issued a press release. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated in this Item 8.01 by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| 99.1 | Press release, dated July 11, 2017. |
UBIQUITY, INC. ExhibitEX-99.1 2 ex99-1.htm UBIQUITY INC. WINS VICTORY IN $7.7 MILLION DOLLAR DEFAULT JUDGEMENT IN ILLINOIS FEDERAL COURT The $7.7 million dollar Default Judgement in favor of Gerald D. W. North,…To view the full exhibit click here
About UBIQUITY, INC. (OTCMKTS:UBIQ)
Ubiquity, Inc. is focused on providing a platform, which enables anyone to connect to Internet-based content on any type of device. The Company’s signature product is the Sprocket. The Sprocket can be downloaded onto any type of device (such as mobile phone, tablet, laptop) and then customized to provide the user with access to all Web-based content, social media outlets, video-based content, private networks, social networks, personalized files, intelligent search, and virtually all other media. The Sprocket also provides detailed analytics and data on the end users, delivering value as a marketing tool to the content providers and advertisers. The Company has various products that function on the Sprocket platform, such as GiftSender (a mobile wallet); Monkeybars (a social mobility distribution platform), and its video search engine. The Company also has video intelligence software, which it proposes to sell to government customers.