Cyberfort Software, Inc. (CYBF)

[ProfitScout]

CYBF has an 8K filing out today covering the purchase agreement with Krishna Kumar. Good to see the planned objectives here going forward and the company keeping current on all its filings.

https://ih.advfn.com/stock-market/USOTC/cyberfort-software-inc-CYBF/stock-news/79360099/current-report-filing-8-k

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

Purchase Agreement

On February 25, 2019, we entered into a Purchase Agreement (the “Agreement”), with Krishna Kumar (the “Seller”) to acquire the title, rights, and 100% interest to a software application in exchange for various consideration. Under the Agreement, the Company will pay the Seller $3,000 within 7 business days the effective day and will issue 250,000 shares of the Company’s common stock after 12 months of the effective date.

Per the Purchase Agreement, the Company was required to invest up to $100,000 throughout the calendar year of 2019. Additionally, the Agreement obligates the Company to appoint Krishna Kumar as the “Chief Technology Officer”, determining a salary at a letter date.

The parties have made customary representations, warranties, covenants and agreements in the Purchase Agreement.

The foregoing description of the Purchase Agreement is qualified in its entirety by reference to the full text of the Purchase Agreement, which is attached as Exhibit 2.1 to this Form 8-K and incorporated herein by reference.