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MOMO > SEC Filings for MOMO > Form 8-K on 2-Jan-2014All Recent SEC Filings

Show all filings for MOPALS.COM, INC.

Form 8-K for MOPALS.COM, INC.


Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01 Entry Into A Material Definitive Agreement

On December 19, 2013,, Inc. (the "Company" or "MoPals"), entered into a letter of intent (the "Letter of Intent") with Relativity Sports, LLC ("Relativity"), a sports management company dedicated to providing elite professional athletes a full-range of development services including contract negotiation, marketing, media relations, fan management, brand building, entrepreneurial opportunities, community involvement and personal services.

Relativity represents hundreds of professional athletes and MoPals and Relativity will work together to choose ten of their influential athletes to represent MoPals. The Letter of Intent establishes a framework whereby Relativity will provide certain services in connection with its athlete's participation in endorsing MoPals' brand (the "Proposed Relationship"), which will be negotiated over an exclusive period of up to 60 days. During this time, MoPals also intends to negotiate endorsement agreements with Relativity's athletes. The Letter of Intent also details (i) the terms of the proposed definitive agreement between the parties, including the term of the agreement, the shares of MoPal's common stock to be issued to Relativity upon execution of the definitive agreement, and additional closing conditions, as well as (ii) the confidential terms of the endorsement agreements between MoPals and each athletes, including the athlete's responsibilities and the compensation to be provided by MoPals.

The foregoing description of the terms of the Letter of Intent are qualified in their entirety by reference to the Form of Stock Purchase Agreement filed as Exhibit 10.1 to this Current Report on Form 8-K (the "Report"), which is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.      Description
   10.1          Letter of Intent, dated December 2, 2013, by and among, Inc.
                 and Relativity Sports, LLC.

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