A few other links as well. Exeblock and PBSA announced the results of their negotiations to relinquish Code done for the Peerplays Blockchain.
I have a link to the official press release and Jonathan's addendum made on Steemit.
Halifax, Nova Scotia--(Newsfile Corp. - February 15, 2019) - eXeBlock Technology Corporation (CSE: XBLK) ("eXeBlock" or the "Company") today announces it has entered into a purchase agreement (the "Agreement") with Peerplays Blockchain Standards Association ("PBSA"), Data Security Node Inc., Fallout Complex Inc., 10353027 Canada Corporation ("10343027"), and Jonathan Baha'i.
Material terms of the Agreement include:
Sale of software including 50/50 Labs, Sidechain and eXeChain (collectively, the "Software") to PBSA for the payment to eXeBlock of $250,000 in cash (the "Cash Consideration") plus applicable taxes, on closing;
the assumption by PBSA of amounts owing by eXeBlock to a third party developer in the development of the Software totaling $463,419 USD;
the purchase of up to 9,965,000 common shares of eXeBlock held by 10343027, an entity wholly-owned by Jonathan Baha'i (which represents approximately 16.6% of the Company's common shares outstanding as of February 15, 2019) for cancellation by the Company (the "Share Reduction") for an aggregate amount not exceeding $1.00;
the termination of the software development agreement between eXeBlock and PBSA on closing and release by eXeBlock in any interest in any consideration, including any PPY tokens, if any, which were to be transferred as payment for software development under such agreement;
the forgiveness of amounts owing by eXeBlock to each of Data Security Node Inc., Fallout Complex Inc., and Jonathan Baha'i for certain equipment, furniture, fixtures and Company expenses totaling $74,912.35; and
the termination of the bunker lease between eXeBlock and Fallout Complex Inc. on closing, (collectively, the "Transaction").
https://www.newsfilecorp.com/release/42871/eXeBlock-Announces-Sale-of-AssetsA little background...
In December of 2017, eXeBlock had entered into an agreement to deliver four Dapps to the Peerplays Blockchain Standards Association over the next two years. The recent transaction shows that PBSA did not receive delivery of the Dapps that were expected. Instead, eXeBlock opted to divest of its coding assets, specifically the 5050Labs and BTC Sidechain Dapps, and a new blockchain codebase they called XChain. In support of eXeBlocks new direction, when eXeBlock expressed its interest in divesting, it was in PBSA’s best interest to make an offer, which eXeBlock accepted.
[Snip]
PBSA, with the acquisition of the two Dapps, anticipates after a public peer review of the code to have those features available to the mainnet of Peerplays in Q2 of this year.
https://steemit.com/peerplays/@peerplays/an-update-from-pbsa-mutual-termination-of-agreement-with-exeblockThis is pretty great news all around. Things are finally beginning to heat up around here...!
