M&A: Everything Blockchain, Inc.

Form Type: 8-K

Filing Date: 2025-01-06

Corporate Action: Acquisition

Type: New

Accession Number: 000147793225000067

Comments: On November 22, 2024, Everything Blockchain, Inc. entered into an asset purchase agreement with DataRock Technologies, Inc. for $3,300,000. This agreement, signed by CEO Arthur Rozenberg, involves the acquisition of specific assets, including EBControl and BuildDB software solutions. Payment encompasses various components: the outstanding balance of a senior secured promissory note totaling $1,302,956, assumption of vendor debt amounting to $1,148,802, prepaid royalties of $250,000, assumption of accrued payroll and benefits totaling $654,935, and a contingent payment of $193,306.93 as a 2.5% royalty fee from future sales. Additionally, the company will incur an impairment of approximately $20 million related to its Goodwill and intangible assets tied to the software solutions, which will be reflected in future financial reports.

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