SpendSmart Networks Inc. (fka SSPC)

[Renee]

SSPC registration revoked:

https://www.sec.gov/litigation/opinions/2020/34-89546.pdf

[chitre]

so those three companies were suspended for 3 or 4 days.

ordered, pursuant to Section 12(k) of the Exchange Act, that trading in the securities of the
above-listed companies is suspended for the period from 9:30 a.m. EDT on August 6, 2019,
through 11:59 p.m. EDT on August 19, 2019.
By the Commission.
Vanessa A. Countryman
Secretary

[Golden Cross]

$SSPC Tier_Change: Grey Market to Expert Market

OTCM Link
https://www.otcmarkets.com/stock/SSPC/disclosure

[Renee]

SSPC SEC Suspension for severely delinquent Financials:

https://www.sec.gov/litigation/suspensions/2019/34-86569.pdf

Order:

https://www.sec.gov/litigation/suspensions/2019/34-86569-o.pdf

Admin. Proceeding:

https://www.sec.gov/litigation/admin/2019/34-86568.pdf

[maddog 20/20]

Sent a email no response yet. Might have to .take a few phone calls. Someone should want this low float shell.

[$hellKing]

Officers resigning. Hopefully they do something with it. Need an appointment 8k or something to get her going. Appears to still be active on DE SOS

[luckyascanbe]

Not much going on here.

[maddog 20/20]

I'm still around waiting for something to happen.

[cameron86]

Does eclipse marketing own this company. Any plans of doing anything with it? SS is good and they just put someone else in charge. TIA

[cameron86]

Could be going. Anyone still here?

[cameron86]

Not sure tiny SS at these levels though.

[luckyascanbe]

So is this a shell now after selling.

[GreekSeas0ning]

Selling all assets

[Pennybuster]

$SSPC Bought a Starter Position At .0175

[wealthmoney]

SSPC r/m filing otc stop sign r/m filed with 2.2m in cash paid Share Structure
Market Value1 $766,285 a/o Dec 11, 2017
Authorized Shares 300,000,000 a/o May 01, 2015
Outstanding Shares 45,075,571 a/o May 25, 2017 **********proxy out
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12416869
***************************************************************************Dear Stockholders of SpendSmart Networks, Inc.

A special meeting of stockholders (the “Special Meeting”) of SpendSmart Networks, Inc., a Delaware corporation will be held on December 22 at 10:00 a.m. local time For the sale of all of the operating assets of the Company;

After careful consideration, on September 20, 2017, our Board of Directors has approved the sale of the operating assets of the Company to Eclipse Marketing LLC, a Delaware limited liability company (the “Purchaser”), a newly formed entity which is affiliated with New Seneca Partners, a private equity firm .
The purchase price to be paid by the Purchaser for the Purchased Assets is $2,150,000 in cash payable at the Closing. ****************** http://www.eclipsemarketing.net/ ** http://eclipsemarketing.net/client-list.html ***** http://senecapartners.com/ ******** OUR REASONS FOR THE TRANSACTION The potential benefit of having available a publicly traded and reported company without any assets or substantial liabilities in order to effect a reverse merger with a privately operated company with greater potential than our current business.

[myke2]

SOLD!!!

DANGER

[wealthmoney]

I did good early in the year here but the company stopped communicating so I bailed

[jjr04001]

It's not, was just watching price action. Not lovely.

[wealthmoney]

sspc went dark (stop sign) and now this:

proxy vote for "The sale of all of the operating assets of the Company" how the hell can that be lovely lol

[jjr04001]

LOVELY $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.

[JDoggs_Money]

Yeah confusing. Stated clearly is that company is purchasing assets. But also stated after this transaction the stock will become a shell with no agreements in place from a suitor. So seems stock is actually going to be shell for sale...not part of purchaser.

[dblock110]

big 8k out today should get interesting!

[adijas]

From Proxy

After careful consideration, on September 20, 2017, our Board of Directors has approved the sale of the operating assets of the Company to Eclipse Marketing LLC, a Delaware limited liability company (the “Purchaser”), a newly formed entity which is affiliated with New Seneca Partners, a private equity firm.

This is Seneca Partners http://senecapartners.com/

The 8k is signed by:
Name: Michael C. Skaff
Title: Authorized Person

Skaff is managing director at Seneca
http://senecapartners.com/the-seneca-partners-team/

[adijas]

This company coming in? http://www.eclipsemarketing.com/

From LinkedIn
Company type

Privately Held
Company size

201-500 employees
https://www.linkedin.com/company/26075/

[Coniba]

8K company selling for 2.1 M

[wealthmoney]

could use some liquidity for sure must be paying notes with revenue what a novel idea in the otc!

[The Night Stalker]

well notes didn't seem to hit

[The Night Stalker]

lets see notes hit

[The Night Stalker]

lets see 10q

[The Night Stalker]

3 weeks now

[The Night Stalker]

250k note coming in 4 weeks

[wealthmoney]

ive got bids in

[The Night Stalker]

lets see notes due end of august

[maddog 20/20]

You still collecting shares. I have been picking up some other stocks but will be back.

[The Night Stalker]

Item 1.01 Entry into a Material Definitive Agreement

On July 7, 2017, the Company amended one May 5, 2015 9% Convertible Promissory Note with a principal amount of $275,000 as follows: the maturity date was extended to September 7, 2017 and in the event the borrower completes an asset sale or capital raise of more than $225,000, then the Notes shall automatically immediately become due and payable.

On July 11, 2017, the Company issued a Convertible Promissory Note to the Isaac Blech in the amount of $50,000. Mr. Blech is a member of the Company’s board of directors. The Convertible Promissory Note bears interest at the rate of 9% has maturity date of August 31, 2017, and a voluntary conversion into an upcoming financing in the event the Company closes the financing and receives gross proceeds totaling at least $200,000. The conversion rate will be at the same terms of the financing.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

Reference is made to the discussion in Item 1.01 above with respect to the obligation of the Company pursuant to the Note.

Item 3.02 Unregistered Sales of Equity Securities

As stated in Item 1.01 above, which information is hereby incorporated herein by this reference, effective as of July 11, 2017, the Company sold the Note to Isaac Blech. The Company received proceeds of $50,000 under the Note.

The Note was not registered under the Securities Act of 1933, as amended (the “Act”), in reliance upon the exemption from registration contained in Section 4(2) of the Act. The Note and the shares of Common Stock issuable upon the conversion of the Note may not be reoffered or sold in the United States by the holder in the absence of an effective registration statement or exemption from the registration requirements of the Act.

The Company intends to use the proceeds from the sale of the Note for working capital and general corporate purposes.

[wealthmoney]

ill be here with an open wallet

[The Night Stalker]

you read the 8k

[The Night Stalker]

weekly chart ma50 break does it

[maddog 20/20]

Little green today

[The Night Stalker]

sleeper

[jjr04001]

I took out the .017s this morning $SSPC

[wealthmoney]

SSPC As of May 25, 2017 there were 45,075,571 outstanding ,, The Company had total revenues of $1,470,828 for the three months ended March 31, 2017

Our revenues increased $40,443 over the prior year due to increased licensee onboarding compared to the first quarter of 2016.************** SSPC i know your knockin down 6m In revs a year but can you sell me some damn shares please!!

[The Night Stalker]

one day

[The Night Stalker]

wealths secret goldmine

[The Night Stalker]

weekly chart is building

[wealthmoney]

If this wants to go lower I've got a few g's waiting SSPC

[The Night Stalker]

next EWLL right here

[myke2]

Well it's 8.15am on a wednesday and the answering service still taking their calls, not a good sign, I was hoping the made payroll last week but I guess not, nobody coming in to work?

[myke2]

well going to take a hell of a pump to get out of this stinkie pinkie, what the hell, I helped someone out of the well, pray for another poor sap to pull me out, why? do I get involved in these crappy company full of theives!