10:08 AM EST - NexTech AR Solutions : Announced that it has acquired virtual events, remote video training, live streaming software company Jolokia; whose customers include, Merck, Johnson & Johnson, Toyota, Viacom, Polycom and others. The Jolokia platform generated $1mill USD in SaaS revenue for 2019. The transaction was an all stock purchase with an initial payment to Jolokia shareholders of 1 million common shares of NexTech AR Solutions in restricted stock at a deemed price of $1.00 USD ($1.38 CAD) per share. The terms included a 12 month earn out, if the platform generates up to $4million in additional revenue an additional $4mill in restricted stock can be issued. NexTech AR Solutions
shares NTAR:CNX are trading down 4 cents at $1.60.
