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| QFOR > SEC Filings for QFOR > Form 8-K on 2-Jan-2013 | All Recent SEC Filings |
2-Jan-2013
Entry into a Material Definitive Agreement, Other Events, Financial State
On December 21, 2012, Quadrant 4 Systems Corporation (the "Company") entered into a management contract for the management of business assets controlled by a regional consulting and IT solutions company pursuant to the terms of a letter of intent which the Company hopes will ultimately result in the acquisition of certain of these business assets, subject to a successful completion of restructuring of business by that company's current shareholders and stakeholders including the lender to that company. The terms of the letter of intent allow for contingency and due diligence and therefore are subject to negotiation, but the management contract is binding and will result in recognition of income by the Company during the month of December 2012. The extent of income has not yet been determined.
In connection with the transaction described in Item 1.01 above, the Company has acquired control of and responsibility for the management of business units and business assets controlled by a regional consulting and IT solutions company.
Financial statements of business acquired - Not required;
Pro forma financial information - Not required;
Shell Company Transactions - Not required;
Exhibits - None
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