The Shaz Lounge

[ZipCash]

APPZ 8K Dec 22,2017 Flight Time

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12442757


Item 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT



On December 12, 2017, Monster Arts, Inc., a Nevada corporation (the "Company") and Flight Time Aviation Group, Inc. an Albert Canada corporation ("Flight Time"), executed a non-binding Letter of Intent ("LOI") whereby the Company is seeking to acquire all of the assets associated and related to Flight Time’s cloud-based aviation application and software branded as CaminoAero (the "Acquisition"). More information regarding CaminoAero can be found on their website at www.CamineAero.com .



The Acquisition will be completed pursuant to a definitive purchase and sale agreement between the Company and Flight Time and with a purchase price of $220,000 (the “Purchase Price”) consisting of a one-time cash payment in the amount of $20,000 USD (the “Cash Payment”) and a convertible promissory note in the amount of $200,000 USD (the “Note”).



CaminoAero’s secure cloud-based aviation application offers a single point to enter flight activities, which seamlessly integrates CaminoAero’s Pilot Flight Log and Aircraft Log. With this single point of data entry, the CaminoAero system applies consistent flight time and air time calculations and is neatly displayed on the NavDisplay.



The application also allows for the complete tracking of aircraft to improve the efficiencies along maintenance tracking. The NavDisplay is well organized to illustrate the maintenance events that are coming due and is used to support planning for shop visits and to simplify the oversight of an aircraft's maintenance. Further, the application allows for the aircraft activity to be easily transferred to new owners.



The Company and Flight Time will use their best efforts to complete the Definitive Agreement and schedule a Closing of the Definitive Agreement on or before December 31, 2017.