Asset Entities Inc. Files 8-K Report

TL;DR

Asset Entities Inc. filed an 8-K on 6/25 for events on 6/21 - check for updates.

AI Summary

Asset Entities Inc. filed an 8-K on June 25, 2024, reporting events that occurred on June 21, 2024. The filing indicates it is a current report and includes information related to Regulation FD Disclosure, Other Events, and Financial Statements and Exhibits. The company is incorporated in Nevada and its principal executive offices are located in Dallas, Texas.

Why It Matters

This 8-K filing provides an update on significant corporate events and disclosures for Asset Entities Inc., which could impact investor understanding of the company's current status.

Risk Assessment

Risk Level: low — This filing is a routine 8-K report and does not appear to contain any immediately alarming or high-risk information.

Key Players & Entities

• Asset Entities Inc. (company) — Registrant
• June 21, 2024 (date) — Earliest event reported
• June 25, 2024 (date) — Date of report
• Nevada (jurisdiction) — State of incorporation
• Dallas, TX (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.0001 — hich registered Class B Common Stock, $0.0001 par value per share ASST The Nasdaq
• $200,000 — eting, and analytics for the payment of $200,000 in cash (the "Cash Consideration"), the
• $25,000 — mount exceeds an aggregate threshold of $25,000. However, this threshold limitation doe

Filing Documents

• ea0208423-8k_asset.htm (8-K) — 34KB
• ea020842301ex99-1_asset.htm (EX-99.1) — 10KB
• ex99-1_001.jpg (GRAPHIC) — 5KB
• 0001213900-24-055738.txt ( ) — 229KB
• asst-20240621.xsd (EX-101.SCH) — 3KB
• asst-20240621_lab.xml (EX-101.LAB) — 33KB
• asst-20240621_pre.xml (EX-101.PRE) — 22KB
• ea0208423-8k_asset_htm.xml (XML) — 4KB

Forward-Looking Statements

Forward-Looking Statements The press release and the statements contained therein include "forward-looking" statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or the Company's future financial or operating performance. In some cases, you can identify these statements because they contain words such as "may," "will," "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," "plan," "target," "predict," "potential," or the negative of such terms, or other comparable terminology that concern the Company's expectations, strategy, plans, or intentions. Forward-looking of the press release and are not guarantees of the future performance of the Company, and actual results may vary materially from the results and expectations discussed. Forward-looking statements include, but are not limited to, the Company's expectations regarding its financial position and operating performance, its expectations regarding its business initiatives, the Company's expectations about its operating performance, trends in its business, the effectiveness of its strategies, its market opportunity, and demand for its products and services in general. The Company's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks and uncertainties described in the Company's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission. All subsequent written and oral forward-l

01 Other Events

Item 8.01 Other Events. On June 21, 2024, the Company entered into an asset purchase agreement (the "Asset Purchase Agreement") with TommyBoyTV, LLC (the "Seller") and Tomas Cvercko, the owner of all of the membership interests of Seller (the "Member"). Under the Asset Purchase Agreement, the Company agreed to purchase all of the Seller's right, title, and interest in and to substantially all of the assets and properties owned by the Seller and used in connection with its business of Discord development, social media, online community management, marketing, and analytics for the payment of $200,000 in cash (the "Cash Consideration"), the issuance of 25,000 shares of Class B Common Stock, $0.0001 par value per share, of the Company (the "Stock Consideration"), and other good and valuable consideration as described herein. Pursuant to the Asset Purchase Agreement, on June 21, 2024, the Company paid the Seller $200,000 and issued the Stock Consideration to the Member, and the Seller and the Member delivered title to all of the assets of the Seller. The Stock Consideration vested immediately upon issuance. Pursuant to the Asset Purchase Agreement, the Company agreed to assume certain liabilities including the obligations, duties and liabilities with respect to the contracts used in conducting or relating to the business of the Seller and other specified assets, in each case only to the extent arising from and after June 21, 2024. These assumed liabilities also exclude any obligations arising from the Seller's breach or default before June 21, 2024. The Asset Purchase Agreement also contains mutual indemnification provisions with respect to breaches of representations and warranties as well as to certain third-party claims, and indemnification by the Company of the Seller and the Member with respect to certain damages with respect to the assumed liabilities and certain other liabilities asserted by a third party arising after June 21, 2024. In the case of indemnific

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: June 25, 2024 ASSET ENTITIES INC. /s/ Arshia Sarkhani Name: Arshia Sarkhani Title: Chief Executive Officer and President 3

View Full Filing

View this 8-K filing on SEC EDGAR