UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On November 21, 2022, Intellinetics, Inc. (the “Company”) entered into an Amendment to the Stock Purchase Agreement dated March 2, 2020, by and among the Company, as the buyer; Graphic Sciences, Inc., as the target; and Thomas M. Liebold, Gregory P. Colton, Fredrick M. Kamienny, and Frederick L. Erlich, collectively, the sellers. The Amendment accelerates the final earnout payment by the Company to the sellers to January 2, 2023, and it sets the amount of the final earnout payment at an aggregate of $700,000. Under the terms of the original agreement, the earnout could have equaled a maximum of $833,333, and it was payable by approximately June 1, 2023, based on the financial results of the Company’s subsidiary, Graphic Sciences, Inc.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Name of Exhibit | |
| 10.1 | Amendment to Stock Purchase Agreement, dated November 21, 2022, by and among Intellinetics, Inc., Graphic Sciences, Inc., Thomas M. Liebold, Gregory P. Colton, Fredrick M. Kamienny, and Frederick L. Erlich. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| INTELLINETICS, INC. | ||
| By: | /s/ James F. DeSocio | |
| James F. DeSocio | ||
| President and Chief Executive Officer | ||
| Dated: November 28, 2022 | ||