Replies to post #62262 on XpresSpa Group Inc (XSPA)

[VRNG24]

If you are referring to the IDG acquisition, it happened in October, so you wont see anything until the 4th quarter ER is released next year. Here is some preliminary info from the 10Q that helps a little bit:

On October 15, 2015, the Company completed the acquisition of International Development Group Limited, a Maryland corporation (“IDG”). Pursuant to the
Stock Purchase Agreement (the “Purchase Agreement”), the Company acquired 100% of the capital stock of IDG, including two of IDG’s subsidiaries,
fliCharge International Ltd. (“fliCharge”), in which IDG owns 70% of the capital stock and controls the operations, and the wholly-owned Group Mobile
International Ltd. (“Group Mobile”). fliCharge owns patented conductive wire-free charging technology and is focused on innovation, sales, manufacturing
and licensing core technology to large corporations in various industries. Group Mobile is a company with full service technical and customer support in
rugged computers, mobile devices and accessories. The Company expanded their intellectual property and technology portfolio with this acquisition.
In consideration for the acquisition, the Company issued an aggregate of 1,609,167 shares of the Company’s newly designated Series B Convertible Preferred
Stock (“Series B Preferred Stock”), par value $0.01 per share. Of the shares of Series B Preferred Stock issued, 1,604,167 shares were issued to the Sellers,
5,000 shares were issued to IDG’s legal counsel as compensation, and 240,625 shares were placed in escrow to secure certain of the Sellers’ indemnity
obligations under the Purchase Agreement for a period of up to 12 months. The 1,609,167 shares of Series B Preferred Stock are convertible into an aggregate
of 16,091,670 shares of the Company’s common stock, par value $0.01 per share. In addition, the Company issued to one of the Sellers 575,000 shares of the
Company’s unregistered common stock in consideration of his forgiveness of debt.
In connection with the acquisition, the Company also entered into a Consulting Agreement with IDG’s former Chief Executive Officer and director for an
initial term of six months, which may be extended on a month-to-month basis or longer thereafter, and the payment of $9,000 per month.
In connection with the entry into the Purchase Agreement, the Company issued to a finder a warrant to purchase up to an aggregate of 500,000 shares of
common stock of the Company, at an exercise price of $0.50 per share and expiring on April 15, 2021 (the “Warrant”).
Link: https://vrng24.files.wordpress.com/2015/04/vringoinc_10q_20151109.pdf

Hope this helped!

R/
V24