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  4. Zerify Inc (ZRFY) Message Board

DSS: I have been trying to understand the delay wi

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Post# of 82687
(Total Views: 899)
Posted On: 06/30/2020 6:27:31 PM
Posted By: Hate Liars
DSS: I have been trying to understand the delay with DSS. The below information is taken from DSS' March 31, 2020 10K. The entire report is here:

http://www.annualreports.com/HostedData/Annua...S_2019.pdf

Quote:

Note 7 'Intangible Assets":

On March 5, 2019, the Company paid $350,000 and issued 130,435 shares of the Company’s common stock valued at $144,783 in conjunction with the signing of a Master Distributor Agreement with Advanced Cyber Security Corp. (“ACS”) for the Company to distribute ACS’s EndpointLockV™ cyber security software exclusively in thirteen countries in Asia and Australia, and non-exclusively, in the U.S. and Middle East. The aggregate cost of $494,783 of the
agreement was recorded as an intangible asset to be amortized over the expected useful life of 36 months.

On March 5, 2019, the Company issued 130,435 shares of its common stock at $1.15 per share as partial consideration for a licensing and distribution
agreement entered into with Advanced Cyber Security Corp. (Note7)

On February 22, 2019, one of the Company’s foreign subsidiaries, DSS Cyber Security Pte Ltd. entered into a licensing and distribution agreement with
Advanced Cyber Security Corp. (“ACS”). As consideration for the licensing and distribution agreement, the Company paid ACS $350,000 cash and on March 5,
2019, issued ACS 130,435 shares of the Company’s common stock at $1.15 per share as additional consideration for the agreement. Daniel DelGiorno is the
Chief Executive Officer and owner of ACS. Mr. DelGiorno is a former director of the Company and a related party.


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