SpendSmart Networks Inc. (fka SSPC)

[adijas]

Confusing ideed

This was in the 8k:

SpendSmart Networks, Inc. (the “Company”) and Eclipse Marketing LLC, a Delaware limited liability company (the “Purchaser”) entered into a Stock Purchase Agreement dated as of October 5, 2017 (the “Purchase Agreement”) pursuant to which the Company agreed to sell to the Purchaser all of its operating assets (the “Asset Sale’). The Asset Sale will be effected by the sale to the Purchaser of all of the capital stock of SpendSmart Networks, Inc., the Company’s wholly owned subsidiary (the “Subsidiary”)

And

The aggregate purchase price for the Shares shall be $2,150,000

So that looks to me Eclipse becoming owner of the assets by buying shares, so in fact by becoming owner of the company/reverse mereger. But after hours there was a PR, saying:

AN LUIS OBISPO, CA / ACCESSWIRE / October 11, 2017 / SpendSmart Networks, Inc. (OTC PINK: SSPC), a provider of mobile and loyalty marketing software and services, announced today that it has entered into a purchase agreement to sell its operational assets to Eclipse Marketing, LLC. The sale will allow SpendSmart Networks to reduce its ongoing monthly expenses, as well as improve its debt structure. Post-transaction, the company intends on finding an existing private company to merge into its public entity.

SpendSmart Networks CEO, Luke Wallace, said, "This transaction provides the company with its best opportunity to clean its balance sheet and merge with a new company that has a strong potential for growth."


So that looks like SSPC is a shell right now looking for a new RM.