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SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2024
SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS | NOTE 13 - SUBSEQUENT EVENTS On January 2, 2025, the Company issued 30,000 shares of common stock to a consultant of the Company. The shares were previously expensed in the year ended December 31, 2024, and categorized as ‘to be issued’ common shares on the Companies records On January 2, 2025, the Company issued 300,000 shares of common stock to a former debtholder of the Company. The shares were previously expensed in the year ended December 31, 2024, and categorized as ‘to be issued’ common shares on the Companies records. On February 19, 2025, the Company completed the acquisition of telecommunications and AI-integrated billing systems from Savitr Tech OU. The acquisition included software, wholesale long-distance contracts, interconnection agreements, and related intellectual property. The purchase price consisted of $300,000 in cash and two tranches of equity consideration totalling up to 9.8% of the Company's outstanding shares, contingent on revenue milestones. On March 31, 2024, the Company issued 755,407 shares of its common stock with an approximate fair value of $1.3 million as the first tranche of equity consideration. On February 24, 2025, the Company entered into a twelve-month contract with Mexedia SpA, an Italian technology and communications provider. Under the agreement, the Company will provide SMS services through its cloud-based platform. The agreement includes AI-driven billing and dynamic routing capabilities and will automatically renew unless terminated by either party. On February 26, 2025, the Company announced that its Board of Directors authorized a share repurchase program of up to $10 million. The program is expected to begin within thirty days and continue for approximately 180 days, funded through existing cash balances and retained earnings. On March 3, 2025, Atlantic Energy Solutions, Inc. (OTC: AESO), a majority-owned subsidiary of Nixxy, Inc., entered into an Asset Purchase Agreement with Wizco Group, Inc. The acquisition includes Ava, an AI-powered interview coaching platform, along with associated intellectual property, commercial contracts, and customer relationships. As part of the transaction, AESO will issue 16,666,667 shares of its common stock to Wizco’s stockholders, with downside protection provisions in place. Additionally, AESO will issue 10,000,000 shares of common stock to each of Wizco’s two founders under an advisory services agreement, with a structured vesting schedule over 12 months. On March 28, 2025, the Company entered into an Asset Purchase Agreement with Aqua Software Technologies Inc., a private Canadian corporation. Pursuant to the Agreement, the Company agreed to acquire certain billing and AI software assets, including associated intellectual property. The purchase price consisted of $50,000 in cash payable on close and the remaining $50,000 payable within the 30 days of closing, and the equity consideration of $3,800,000 payable in restricted shares of the Company’s common stock. The number of shares to be issued shall be determined by dividing the purchase price by the closing price of Company’s shares on NASDAQ on March 28, 2025 of $1.82 per share, which amounts to a total number of shares to be issued being 2,087,912 Shares. The transaction was executed on March 29, 2025.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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