Item 2.01 Completion of Acquisition or Disposition of Assets

On December 31, 2021, Evolving Systems, Inc., a Delaware corporation ("Evolving Systems") closed on the terms of the Equity Purchase Agreement, dated as of October 15, 2021, by and among Evolving Systems, Evolving Systems Holdings Limited, ETI-NET Inc., Investissements Riv Europe Ltee, and Said Hini, and the software purchase agreements executed simultaneously with the Equity Purchase Agreement. The company received cash proceeds of $36,032,899.37 and may receive up to an additional $2,500,000 upon the conclusion of the escrow term.

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