Item 1.01 Entry into a Material Definitive Agreement
On October 6, 2022, Friendable, Inc. (the "Company") entered into an agreement
with the Centillion Group Inc with respect to the distribution online and
offline, and monetization of certain data acquired by the Company in the course
of its business. The Company will be entitled to receive, as a one time, first
money payment, the first $100,000 of sales generated from this data sharing
arrangement, with a revenue share of 38% of such data revenues thereafter,
increasing to a 40% share in year two of the agreement. The initial term of this
agreement is for 3 years from October 6, 2022, automatically renewing for 2 year
increments unless either party terminates upon no less than 120 days notice
prior to the end of the initial or renewal terms.
The above description of the transaction is qualified in its entirety by
reference to the Collaboration Agreement attached hereto as an Exhibit.
2
Item 9.01 Financial Statements and Exhibits.
Exhibit
Number Exhibit
10.1 Collaboration Agreement by and between Friendable Inc and Centillion
Group Inc.
104 Cover Page Interactive Data File (embedded within Inline XBRL document).
3
© Edgar Online, source Glimpses