DarkPulse Terminates Material Definitive Agreement
Ticker: DPLS · Form: 8-K · Filed: Jan 24, 2024 · CIK: 866439
| Field | Detail |
|---|---|
| Company | Darkpulse, INC. (DPLS) |
| Form Type | 8-K |
| Filed Date | Jan 24, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: contract-termination, corporate-action
TL;DR
**DarkPulse just ended a major contract, watch for impact on future plans.**
AI Summary
DarkPulse, Inc. (formerly Klever Marketing Inc. and Videocart Inc.) filed an 8-K on January 24, 2024, to announce the termination of a material definitive agreement, effective January 23, 2024. This means a significant business contract that DarkPulse was involved in has ended. For investors, this matters because the termination of a material agreement can impact the company's future revenue, strategic direction, or operational plans, potentially signaling a change in its business prospects.
Why It Matters
The termination of a material agreement can significantly alter DarkPulse's business operations and financial outlook, potentially impacting its ability to generate revenue or execute strategic initiatives.
Risk Assessment
Risk Level: medium — The termination of a material agreement introduces uncertainty about DarkPulse's future business activities and financial performance, which could be either positive or negative depending on the specifics of the terminated agreement.
Analyst Insight
A smart investor would investigate the nature of the terminated material definitive agreement to understand its potential impact on DarkPulse's financial health and future strategic direction, as this filing provides no details on the agreement itself.
Key Players & Entities
- DarkPulse, Inc. (company) — the filer of the 8-K
- Klever Marketing Inc. (company) — former name of DarkPulse, Inc.
- Videocart Inc. (company) — former name of DarkPulse, Inc.
- January 23, 2024 (date) — date of the earliest event reported and effective date of termination
- January 24, 2024 (date) — date the 8-K was filed
FAQ
What specific event did DarkPulse, Inc. report in this 8-K filing?
DarkPulse, Inc. reported the 'Termination of a Material Definitive Agreement' in this 8-K filing, as stated under 'ITEM INFORMATION'.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 23, 2024, as indicated by 'Date of Report (Date of earliest event reported): January 23, 2024'.
What was DarkPulse, Inc.'s former company name before Klever Marketing Inc.?
Before being known as Klever Marketing Inc., DarkPulse, Inc. was formerly named Videocart Inc., with a name change date of March 28, 1993, according to the 'FORMER COMPANY' section.
What is the business address of DarkPulse, Inc.?
DarkPulse, Inc.'s business address is 815 Walker Street, Suite 1155, Houston, TX 77002, as listed under 'BUSINESS ADDRESS'.
Is DarkPulse, Inc. an emerging growth company?
The filing does not explicitly state whether DarkPulse, Inc. is an emerging growth company; the checkbox for 'emerging growth company' is not marked, and the text 'Not applicable' is present under 'Securities registered pursuant to Section 12(b) of the Act'.
Filing Stats: 592 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-01-23 18:33:11
Filing Documents
- darkpulse_8k.htm (8-K) — 23KB
- 0001683168-24-000399.txt ( ) — 184KB
- dpls-20240123.xsd (EX-101.SCH) — 3KB
- dpls-20240123_lab.xml (EX-101.LAB) — 33KB
- dpls-20240123_pre.xml (EX-101.PRE) — 22KB
- darkpulse_8k_htm.xml (XML) — 3KB
02 Termination
Item 1.02 Termination of a Material Definitive Agreement. On January 23, 2024, Darkpulse, Inc., a Delaware corporation ("we" or "our" or "us") and Global Systems Dynamics, Inc. ("GSD"), by mutual written consent, terminated the Business Combination Agreement, as amended, between us, GSD, and Zilla Acquisition Corp., a Delaware corporation (the "Business Combination Agreement"), pursuant to Section 7.1(a) therein. Under the terms of the Business Combination Agreement, the parties thereto (the "Parties") had agreed to combine their respective businesses (the transactions contemplated under the Business Combination Agreement (the "Business Combination"). Following the Business Combination, we would become the surviving entity and GSD's wholly-owned subsidiary, and we and GSD would operate as a consolidated company under the name "Global System Dynamics, Inc." Additional terms and conditions of the Business Combination Agreement were disclosed in our current report on Form 8-K ("Form 8-K") filed with the U.S. Securities and Exchange Commission (the "SEC") on December 15, 2022. On or about August 8, 2023, the Parties entered into Amendment No. 1 to the Business Combination Agreement, pursuant to which they agreed to extend the date by the Business Combination would be consummated, or otherwise have the right to terminate the Merger Agreement, from August 9, 2023 to February 9, 2024, without any right of extension. The Form 8-K and registration statement on Form S-4 filed with the SEC on February 14, 2023 (the "Form S-4") are incorporated herein by reference and the foregoing descriptions of the Business Combination Agreement and amendments thereto are qualified in its entirety by reference to the Form 8-K and Form S-4.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. DarkPulse, Inc. Date: January 24, 2024 By: /s/ Dennis O'Leary Dennis O'Leary, Chief Executive Officer 2