Cuentas Inc (CUEN)

[doogdilinger]

Item 1.01 Entry into a Definitive Material Agreement
 
On October 9, 2017, Next Group Holdings, Inc, (“NXGH” or the “Company”) signed Convertible Note Redemption and Adjusrment Agreements, with three separate Finance Groups that hold an aggregated value of $1,193,627 in Convertible Notes. These Agreements allow NXGH to buy back up to 70% of the outstanding notes over the next 8 months. If NXGH buys back 70% of each noteholder’s principal by Dec 31, 2017, the noteholder’s share price floor will be set at a minimum of $0.05 per share. If NXGH does not buy back 70% of each noteholder’s principal by Dec 31, 2017, the noteholder’s share price floor will be lowered to $0.02 per share.
 

As stated in the attached Agreements, these noteholders have agreed to release back to the company an aggregated total of 39,836,560 shares which were held as reserve for future conversions. 
 
LG and Cerberus are locked up from converting any notes through June 19, 2018. Quarum Holdings is locked up from converting any notes through Dec.31, 2017