like the last 8ks that turned into a mess or were untrue?
Item 1.01 Entry into a Material Definitive Agreement.
In order to provide a possible source of funding for the Company, the Company, on December 1, 2017, entered into an Investor Agreement (the "Agreement") with Ignition Capital, LLC ("Ignition").
Pursuant to the Agreement, Ignition has agreed to provide the Company with up to $5,000,000 of funding through the purchase of shares of the Company's common stock. During the term of the Agreement, the Company may deliver a Put Notice to Ignition, which will specify the number of shares which the Company will sell to Ignition. The minimum amount the Company can draw down at any one time is $25,000, and the maximum amount the Company can draw down at any one time is $250,000, as determined by the formula contained in the Agreement.
A closing will occur on the date which is no earlier than five trading days following and no later than seven trading days following the applicable Put Notice. On each Closing Date, the Company will sell, and Ignition will purchase, the shares of the Company's common stock specified in the Put Notice.
The amount to be paid by Ignition on a particular Closing Date will be determined by multiplying the Purchase Price by the number of shares specified in the Put Notice. The Purchase Price will be 75% of the lowest trading price of the Company's common stock during the Pricing Period applicable to the Put Notice. The Pricing Period, with respect to a particular Put Notice, is five consecutive trading days including, and immediately following, the delivery of a Put Notice to Ignition.
The Company may submit a Put Notice once every fifteen trading days provided the closing of the previous transaction has taken place. The Company is under no obligation to submit any Put Notices.
The Agreement has a term of 24 months, which will begin on the effective date of the registration statement which the Company has agreed to file with the Securities and Exchange Commission so that the shares of common stock to be sold to Ignition may be sold in the public market.
The Company issued a promissory note to Ignition for the principal sum of $25,000 as a commitment fee for the equity line. The note bears interest at 15% per year, is unsecured, and is due and payable on December 1, 2018. At the option of Ignition, all or any part of the note may be converted into shares of the Company's common stock. Any amount so converted will be converted into common stock of the Company at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is quoted for the ten (10) trading days immediately prior to but not including the Conversion Date.
Item 1.01 Entry into a Material Definitive Agreement
It is with Great Pleasure that we announce that Viva Entertainment Group signed an endorsement deal with the Hollywood star Actor, Luis Guzman. Under the terms of the agreement, Guzman will endorse the VIVA brand and serve as a public face for the Company, engage in promotional activities, provide referrals to Company, participate with ongoing social media efforts, marketing activities and promotions with VivaLive TV, and participate in public speaking engagements, events, meetings, and media opportunities.
Mr. Guzman’s extensive movie and television career spans nearly 40 years and is widely regarded as one of the most recognizable actors in Hollywood with over 140 credits in film and television. Some of his roles include Boogie Nights, Carlito’s Way, Count of Monte Cristo, Magnolia, Narcos and currently starring in CBS’ medical drama, Code Black.
Item 1.01 Entry into a Material Definitive Agreement
It is with great pleasure that VIVA Entertainment Group, Inc. (OTTV) (“VIVA” or “the Company”), a distributor of Over-The-Top (OTT) IPTV content to consumers in a bundled subscription format, announces that it has completed the interface redesign as part of the revenue sharing and service agreement with FlixFling, LLC., allowing subscribers access to the FlixFling catalogue through the VIVA portal starting at 11am today. As previously announced, VIVA signed a five-year agreement with FlixFling which provides for a share of 20% of sales by VIVA of FlixFling subscriptions and 30% from video-on-demand downloads sold through VIVA. The agreement also provides for VIVA and FlixFling to work together to promote and market the product and also develop an integrated user experience between the two services.
Johnny Falcones, Chief Executive Officer of VIVA has spent six months since signing the revenue share agreement with FlixFling working together to develop a seamless and integrated platform so that VIVA customers can access one of the best streaming services in the industry for the latest movies and music videos on demand.
From the beginning, VIVA’s goal has been to create an affordable solution giving our customers access to the broadest possible range of meaningful content. FlixFling’s platform of movies-on-demand combined with music video channels makes VIVA one of the best OTT providers on the market. The redesigned app will allow customers to easily access both VIVA and FlixFling content without having to switch between apps. It is just one more way in which VIVA is setting itself apart from the rest of the OTT community.
Philadelphia-based FlixFling offers over 15,000 movies and television shows across all genres in an OTT format. Their unique service gives customers a choice between video-on-demand and monthly subscription services. They are currently the only streaming service to offer both movies and music to customers at one low price and the only service to offer streaming music video channels.
u don't think this comcast 8k was extremely and intentionally vague and open for interpretation? how long before the dilution machine spins up again? i'd say within the next couple months since there is no cash flow.
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