UNWIND AGREEMENTUnwind Agreement • January 21st, 2016 • SPYR, Inc. • Retail-eating & drinking places • Colorado
THIS UNWIND AGREEMENT (“Agreement”) is made effective as of the ____ day of December, 2015 by and between Mark McGarrity (“McGarrity”), Kennen Palm (“Palm”), Pilgrim Consulting Services, Inc., a Delaware corporation (“Pilgrim”) (McGarrity, Palm and Pilgrim may be collectively referred to as “Sellers”) and SPYR, Inc. f/k/a Eat at Joes, Ltd., a Nevada corporation (“SPYR” or “Purchaser”).
SPYR, Inc., and Subsidiaries Unaudited Pro Forma Consolidated Financial InformationSPYR, Inc. • January 21st, 2016 • Retail-eating & drinking places
On December 31, 2015, SPYR, Inc. (“SPYR”) entered into an agreement to unwind and dispose of its wholly owned subsidiary Franklin Networks, Inc. (“FNI”). Pursuant to the agreement, the Company agreed to return to 100% of the shares of FNI to its former owners, along with its intangible assets including website properties and goodwill related to: entrée.com, gladiators.com, flawless.com, grubbr.com, parentingpad.com, nutristic.com, crumb.com, gulitytravel.com, and celebrityhq.com. FNI and its former owners agreed to return to SPYR all two million five hundred thousand shares of restricted SPYR common stock issued to them in the initial exchange transaction with FNI.
