The Glimpse Group, Inc. UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATIONGlimpse Group, Inc. • April 6th, 2022 • Services-computer programming services
On December 2, 2021, The Glimpse Group, Inc. (the “Company” or “Glimpse”) entered into a Membership Interest Sale Agreement (the “Agreement”) with Sector 5 Digital, LLC (“S5D”) and Jeff Meisner, Jeff Meade, Doug Fidler, and Brandy Cardwell (the “Sellers”). Under the Agreement, the Sellers, who collectively owned all (100%) of the membership interests of S5D, agreed to sell all of the membership interests in S5D to the Company in exchange for a total potential purchase price of $27,000,000, with an initial cash payment of $4,000,000 and the issuance of 277,201 shares of the Company’s common stock with a value of $4,000,000 (the “Initial Payment”) due upon closing (the “Closing”). Future purchase price considerations, up to a residual $19,000,000, are based on S5D and the Company’s achievement of revenue growth milestones in the three years post-Closing, the payment of which shall be made up to $2,000,000 in cash and the remainder in common shares of the Company, priced at the date of th
