Chowdary Yalamanchili signed a definitive agreement to acquire all assets of BlackRidge Technology International, Inc. (OTCPK:BRTI) for $1.6 million on September 29, 2020. As part of the agreement, buyer will deposit $0.16 million, $0.09 million of which shall be allocated to the purchase of assets of technology/holdings and $0.07 million of which shall be allocated to the purchase of the assets of research. Buyer shall remit the deposit on or before the bid deadline, payable to the IOLTA Trust Account maintained on behalf of sellers. The purchase price shall be composed of: (i) a credit bid against the debt owed by seller to buyer in connection with the DIP loan and (ii) cash bid. The credit bid component will be in the full amount of the technology/holdings estate’s outstanding monetary obligations under the DIP loan as of the date of the sale hearing. The transaction is subject to the approval of the Bankruptcy Court, and other customary closing conditions. As of November 9, 2020, the transaction was approved by the Bankruptcy court. The transaction is expected to close on November 6, 2020. Micheal K.Riordan of Foley & Lardner LLP acted as the legal advisor to buyer and Stephen R. Harris of Harris Law Practice LLC acted as the legal advisor to Blackridge as part of the transaction. Patagonia Capital Advisors LLC acted as the investment banker on behalf of Blackridge in this transaction.