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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Netcapital Inc | NASDAQ:NCPL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0009 | 0.73% | 0.1249 | 0.1249 | 0.129 | 0.1249 | 0.1203 | 0.1203 | 44,111 | 14:49:14 |
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||
Common Stock, $0.001 par value per share | NCPL | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 2.02. Results of Operations and Financial Condition.
On December 12, 2022, Netcapital Inc. (the “Company”) issued a press release announcing financial results for the period ended October 31, 2022. The text of the press release is furnished as Exhibit 99.1 to this current report.
The information in this Item 2.02 and Exhibit 99.1 hereto shall not be deemed “filed” for the purposes of or otherwise subject to the liabilities under Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Unless expressly incorporated into a filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, the information contained in this Item 2.02 and Exhibit 99.1 hereto shall not be incorporated by reference into any Company filing, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 3.02 Unregistered Sale of Equity Securities
In connection with the Asset Purchase Agreement referred to under Item 8.01 below, we issued 300,000 shares of our common stock to Nantascot LLC, a Delaware limited liability company in consideration of our purchase of assets related to their One-On-One interactive video platform between athletes and fans. We did not receive any proceeds from this issuance. The issuance was exempt under Section 4(a)(2) of the Securities Act of 1933, as amended.
Item 8.01 Other Information
On December 9, 2022, we entered into an Asset Purchase Agreement with Nantascot, LLC, a Delaware limited liability company under which we purchased all assets related to their One-On-One interactive video platform between athletes and fans. The assets acquired consisted of (i) all intellectual property, source code, logo and domain names 1ON1.FANS and ONEONONE.FANS, associated goodwill and other rights , remedies against infringement of and rights to protection of interests in intellectual property; (ii) all books, records and other printed or written materials related to this business and (iii) all rights to causes of actions, lawsuits, judgments indemnities, claims and demands of any nature in favor of seller relating to the business. We agreed to assume all liabilities of seller resulting from or relating to this business arising after the closing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit No. | Description | |
99.1 | Press Release dated December 12, 2022. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Netcapital Inc. | ||
(Registrant) | ||
Date: December 13, 2022 | By: | /s/ Cecilia Lenk |
Cecilia Lenk | ||
Chief Executive Officer |
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