Digital Locations, Inc. acquired Substantially All of the Assets of Wireless Communications Marketing and Database Services Business from SmallCellSite.com LLC for $1 million.
January 12, 2021
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Digital Locations, Inc. (OTCPK:DLOC) entered into an agreement to acquire Substantially All of the Assets of Wireless Communications Marketing and Database Services Business from SmallCellSite.com LLC for $1 million on January 7, 2021. Digital Locations, will pay $0.01 million in cash and a five year convertible promissory note in the amount of $1 million. SmallCellSite.com instructed the Digital Locations to assign the Note to the SmallCellSite's members as follows: $0.5 million principal amount of the Note to Shervin Gerami, a holder of 50% of the membership interest of SCS, and $0.5 million principal amount of the Note to Baryalai Azmi, a holder of 50% of the membership interest of SmallCellSite. The transaction is subject to rescission based on acceptance by Digital Locations of an audit of the SmallCellSite books and records. Mark J. Richardson of Richardson & Associates acted as legal advisor to Digital Locations, Inc. Adam J. August of Holland & Knight acted as legal advisor to SmallCellSite.com.
Digital Locations, Inc. (OTCPK:DLOC) completed the acquisition of Substantially All of the Assets of Wireless Communications Marketing and Database Services Business from SmallCellSite.com LLC on January 7, 2021. All the conditions in the transaction have been met.
Digital Locations, Inc. is engaged in the development of Satenna, a technology that delivers high-speed Internet from satellites directly to smartphones all over the world. Satenna enables device manufacturers, wireless carriers, and satellite operators to offer high-speed Internet service from satellites directly to smartphones, with no dead zones and no cell towers. Satenna feature a novel antenna solution that can dynamically and intelligently adjust for satellite positions, phase angle, beam forming, various satellite frequencies and user conditions, such as physical interference and obstructions. The Company's wholly owned subsidiary is SmallCellSite.com LLC.
Digital Locations, Inc. acquired Substantially All of the Assets of Wireless Communications Marketing and Database Services Business from SmallCellSite.com LLC for $1 million.