uSell.com, Inc. (OTCMKTS:USEL) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a RegistrantItem 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On November 13, 2017, uSell.com, Inc. (the “Company”), certain of the Company’s subsidiaries and an institutional investor entered into an amendment (the “Amendment”), effective November 2, 2017, to that certain Note Purchase Agreement dated January 13, 2017, as amended (the “Agreement”). to the Amendment, the Company and the investor amended certain financial covenants under the Agreement.
The foregoing description of the Amendment is a summary only and is qualified in its entirety by the full text of the Amendment filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits.
| 10.1 | Amendment No. 2 to the Note Purchase Agreement dated January 13, 2017 * |
| * | Certain schedules, appendices and exhibits to this agreement have been omitted in accordance with Item 601(b)(2) of Regulation S-K. A copy of any omitted schedule and/or exhibit will be furnished supplementally to the Securities and Exchange Commission staff upon request. |
usell.com, Inc. ExhibitEX-10.1 2 s108230_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 SECOND AMENDMENT TO NOTE PURCHASE AGREEMENT This Second Amendment to Note Purchase Agreement (this “Amendment”),…To view the full exhibit click here
About uSell.com, Inc. (OTCMKTS:USEL)
uSell.com, Inc. (uSell) is a technology-based company. The Company focuses on extracting the value from used mobile devices. It acquires products from both individual consumers, on its Website, uSell.com, and from carriers, retailers and manufacturers through its subsidiary, We Sell Cellular, LLC. These devices are then distributed across the world, which leverages an online marketplace where professional buyers of used smartphones compete to buy inventory in an on-demand fashion. The Company, through uSell.com, allows individual consumers to find cash offers for their items based on the make, model, and condition of each item. Upon accepting an offer, consumers can ship their devices for free using either a prepaid shipping kit or shipping label, and then track the progress of their orders online from initiation to final payment of their devices.