Current Report Filing (8-k)
January 03 2018 - 6:11AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): January 2, 2018
nFüsz,
Inc.
(Exact
name of registrant as specified in its charter)
|
Nevada
|
|
000-55314
|
|
90-1118043
|
|
(State
or other jurisdiction of
incorporation
or organization)
|
|
(Commission
File
Number)
|
|
(I.R.S.
Employer
Identification
Number)
|
344
S. Hauser Boulevard, Suite 414
Los
Angeles, California 90036
(Address
of principal executive office, including zip code)
(855)
250-2300
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
|
[ ]
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
|
|
[ ]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [X]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
1.01. Entry into a Material Definitive Agreement.
On
January 2, 2018 we entered into an agreement with ORACLE AMERICA, INC. (“ORACLE”) (the “Agreement”) pursuant
to which we agreed to develop an application (a “Partner Application” as defined in the Agreement) to facilitate the
integration of our notifiCRM interactive video messaging technology into the NetSuite Software-as-a-Service (SaaS) platform developed
by ORACLE (the “ORACLE SERVICE”), and to ensure the interoperability of our notifiCRM technology with the ORACLE SERVICE.
The Parties intend that all ORACLE NetSuite customers (existing and future) that pay an additional per user fee (discussed below),
will have the ability to create, edit, send, and track notifiCRM interactive video messaging seamlessly through the ORACLE NetSuite
user interface. The ORACLE SERVICE integrates Enterprise Resource Planning, Customer Relationship Management, E-commerce (web
site hosting, web store transactions) and partner collaboration capabilities.
The
Agreement provides that the development of the application, which will be undertaken jointly by us and ORACLE, will be completed
within one year. We anticipate that development of the application, which has already begun, will be completed within 120 days.
The Agreement is for an initial term of one year, but renews automatically for successive one-year terms, unless sooner terminated
in accordance with the termination provisions set forth in the Agreement.
Upon
completion of development and testing of the application, it will be marketed jointly by us and ORACLE, through, among other things,
ORACLE’S existing network of approximately 2,000 ORACLE NetSuite sales reps. Pricing is yet to be finalized, but it is estimated
that the integrated notifiCRM feature set will be offered at a price of between $10 and $25 (or such higher price, depending upon
the requested features and functionality) per user, per month, (the “notifiCRM Fee”) which is in addition to the price
each user pays for the ORACLE SERVICE. The Agreement provides that the notifiCRM fee will be shared between us and ORACLE as follows:
90% to us and 10% to ORACLE.
The
Agreement contains covenants, representations and warranties of us and ORACLE that are typical for agreements of this type, including,
among other things, provisions for confidentiality, intellectual property, and the licensed use of each other’s trademarks
for marketing purposes. The Agreement is non-exclusive. It is currently contemplated that once the application is available to
be marketed to ORACLE customers, the Parties will prepare and distribute a joint press release.
The
foregoing description of the terms of the Agreement, does not purport to be complete and is subject to and qualified in its entirety
by reference to the Agreement itself, the terms of which are incorporated herein by reference. The benefits and representations
and warranties set forth in such document (if any) are not intended to and do not constitute continuing representations and warranties
of us or any other party to persons not a party thereto.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this current report to be signed on
its behalf by the undersigned hereunto duly authorized.
|
Date:
January 3, 2018
|
|
nFüsz,
Inc.
|
|
|
|
|
|
|
|
By:
“Rory J. Cutaia”
|
|
/s/
Rory J. Cutaia
|
|
Name:
Rory J. Cutaia
|
|
|
|
Title:
Chairman and Chief Executive Officer
|