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Assets of Financing Solutions Business

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Assets of Financing Solutions Business



Price: $100,000.00


Other Item Info
Item #: txnbke_495309
Created: 10/26/2021
Category: Business Property > Intellectual Property > Other
Sale Date: None Set
Seller Info
Jeff P Prostok
Debtor's Attorney
777 Main StSte 1290
Ft Worth, TX 76102
817-877-8855
Bankruptcy Info
Case #: 4:21-bk-42215
Case Title: Flexible Funding, Ltd. Liability Co.
Court: Texas Northern Bankruptcy Court
Chapter: 11
View Case Docket

See More Documents

Description

Sale of assets of  Flexible Funding Ltd. Liability Co. and Instapay Flexible, LLC (collectively, the “Sellers”), which includes:

  • Accounts receivables with respect to each of those Existing Customers which it would like to sell and assign to become customers of another factoring company. The sale would include the customers, the “Converted Customers” and such accounts receivable, the “Converted Customer AR”); and
  • Intellectual property identified as source code, scripts, and documentation in the github repository (the “Intellectual Property” and together with the Converted Customer AR, the “Assets”).

Additional Details

Purchase Price: (i) $100,000 cash; (ii) actual amounts owed to Instapay by the client at the time the Instapay clients convert to SellersFunding; and (iii) quarterly royalty of 15% of fees collected for all converted leads and converted Instapay clients for a period of 3 years.



Other Information

Terms and Conditions:

See Attached.


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