ASSET PURCHASE AGREEMENT BY AND BETWEEN SPINDLE INC. AND C&H FINANCIAL SERVICES, INC.Asset Purchase Agreement • June 10th, 2015 • Spindle, Inc. • Services-business services, nec • Illinois
This Asset Purchase Agreement (this “Agreement”), is made as of the date of signing by and between Spindle, Inc. 8700 E. Vista Bonita #260, Scottsdale, AZ 85255 (the “Company”) and C&H Financial Services, Inc., an Illinois business corporation (“Purchaser”). From time to time, Company and Purchaser are referred to herein as a “Party” and collectively as the “Parties.”
SPINDLE, INC. UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATIONSpindle, Inc. • June 10th, 2015 • Services-business services, nec
On June 4, 2015 (the “Closing Date”), Spindle, Inc., a Nevada corporation (“Spindle”), entered into an Asset Purchase Agreement (the “Agreement”) with C&H Financial Services, Inc., an Illinois corporation (“C&H”), pursuant to which Spindle agreed to sell all of the assets, which primarily include the rights and obligations to Spindle’s high risk merchant services portfolio revenue derived from the residual contract revenue asset (the “Asset Sale”) that Spindle acquired from Parallel Solutions Inc. in December 2012, which have been used in connection with Spindle’s business of facilitating electronic payment processing services to merchants (the “Assets”). In connection with the Asset Sale, C&H agreed to assume payment obligations of certain residual fees connected to such Assets.
