Tuesday, June 30, 2015 10:19:34 AM
On September 19, 2014, Duos Technologies, Inc. (“Duos”), the wholly owned subsidiary of Information Systems Associates, Inc. (the “Company”), Unity International Group, Inc. (“Seller”) and Uni-Data and Communications, Inc. (“UDC”), entered into a Stock Purchase Agreement (SPA), as subsequently amended as of February 12, 2015 (the “Agreement”) , pursuant to which Duos agreed to purchase all of the issued and outstanding shares of UDC for an aggregate consideration of $7,000,000. Under the terms of the Agreement, either Duos or the Seller had the right to terminate the Agreement if the closing did not occur by May 31, 2015, without any further obligation or liability. See the Form 8-K the Company filed on April 7, 2015 relating to the merger with Duos for more information regarding the material terms of the Agreement.
The closing of the acquisition was subject to the Company raising the capital needed for the purchase price. As the necessary amounts were not raised by May 31, 2015, the closing under the Agreement did not occur. The Company continued negotiations with the Seller after May 31, 2015 regarding an extension of such date and, although, the Seller granted a temporary extension through June 16, 2015, no agreement was reached relating to an extension acceptable to the parties. Accordingly, on June 26, 2015, the parties agreed to terminate the Agreement in accordance with its terms.
Recent DUOT News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/04/2024 09:31:48 PM
- Duos Edge AI Launches First Edge Data Center • GlobeNewswire Inc. • 09/04/2024 12:00:00 PM
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- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 08/16/2024 08:15:02 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 08/16/2024 08:01:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2024 09:15:08 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/13/2024 09:00:25 PM
- Duos Technologies Group Reports Second Quarter 2024 Results • GlobeNewswire Inc. • 08/13/2024 08:15:00 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 07/31/2024 09:07:23 PM
- Duos Technologies Group Sets Second Quarter 2024 Earnings Call for Tuesday, August 13, 2024 at 4:30 PM ET • GlobeNewswire Inc. • 07/30/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/24/2024 02:18:45 PM
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- Form D - Notice of Exempt Offering of Securities • Edgar (US Regulatory) • 07/23/2024 09:00:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/23/2024 08:20:24 PM
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