GBT Technologies Inc (GTCH)

[canthelpit]

GTCH BANNIX ...........this from bannix 8k filed yesterday still persuing certain patents,,,,,,,, must be a cat fight in that office
tem 1.02 Termination of Material Definitive Agreement.



On August 8, 2023, Bannix Acquisition Corp. (“Bannix”) entered into a Patent Purchase Agreement (“PPA”) with GBT Tokenize Corp. (“Tokenize”), which is 50% owned by GBT Technologies Corp. (“GBT”), where GBT provided its consent, to acquire the entire right, title, and interest of the Patents. The closing date of the PPA was set to be immediately following the closing of the Business Combination Agreement (“BCA”) by Bannix with EVIE Autonomous Group Ltd. (“EVIE”).



On March 11, 2024, Bannix sent EVIE and the shareholder of EVIE a notice providing that the Business Combination Agreement has been terminated (“BNIX EVIE Termination Letter”)



As the PPA was contingent upon Bannix closing the acquisition of EVIE and due to the BNIX EVIE Termination Letter, on March 19, 2024 Bannix and Tokenize agreed to terminate the PPA which was consented to by GBT. Tokenize and Bannix are continuing discussions with respect to a potential acquisition of certain assets of Tokenize by Bannix. There is no guarantee that the parties will be able to enter into a definitive agreement reflecting the above intentions. Even if the parties are able to enter into a definitive agreement it still will be contingent upon approval of regulators and shareholders governing Bannix.