Form 8-K
8-K — Crisp Momentum Inc.
Accession: 0001493152-26-034401
Filed: 2026-07-23
Period: 2026-07-22
CIK: 0000924396
SIC: 6199 (FINANCE SERVICES)
Item: Entry into a Material Definitive Agreement
Item: Financial Statements and Exhibits
Documents
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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): July 22, 2026
CRISP
MOMENTUM INC.
(Exact
name of registrant as specified in its charter)
Delaware
000-24520
04-3021770
(State
or other jurisdiction
of
incorporation)
(Commission
File
Number)
(I.R.S.
Employer
Identification
Number)
250
Park Avenue, 7th
Floor, New
York, NY
10177
(Address
of principal executive offices) (Zip code)
(305)
351-9195
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
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 (see General Instruction A.2.)
☐
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))
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
Trading
Symbol(s)
Name
of each exchange on which registered
N/A
N/A
N/A
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ☐
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
July 22, 2026, Crisp Momentum Inc. (the “Company”) entered into a Loan Assignment and Share Repurchase Agreement (the “Assignment
and Repurchase Agreement”), dated as of July 22, 2026, by and between the Company and Partum AG (“Partum”).
The
Company and Nexvers Co., Ltd. (“Nexvers”) previously entered into a Loan Agreement dated November 13, 2025 (the “Loan
Agreement”), pursuant to which the Company made a term loan to Nexvers in an aggregate principal amount of up to $3,000,000 (the
“Loan”), evidenced by a promissory note dated November 13, 2025 (the “Note” and together with the Loan Agreement,
the “Loan Documents”), and pursuant to which advances under the Loan Agreement were made by the Company to Nexvers in an
aggregate principal amount of $1,700,000. Nexvers previously made partial repayments of the Loan in an aggregate amount of $200,000,
leaving outstanding obligations under the Loan Documents consisting of an outstanding principal balance of $1,500,000 and certain accrued
and unpaid interest thereon (together, the “Outstanding Loan Obligations”).
Pursuant
to the terms of the Assignment and Repurchase Agreement, the Company agreed to assign to Partum all of the Company’s right, title,
and interest in, to and under the Loan Documents (the “Assignment”), such that Partum would be the sole lender and holder
of the Loan Documents following the Assignment. Prior to closing of the Assignment, Partum held 20,000,000 shares of the Company’s
common stock (the “Shares”). In consideration for the Assignment and subject to the terms of the Assignment and Repurchase
Agreement, Partum agreed to transfer the Shares to the Company.
The
Assignment and Repurchase Agreement contains customary representations, warranties and covenants for a transaction of this type.
The
Assignment closed on July 22, 2026, and Partum transferred the Shares to the Company on July 22, 2026.
The
foregoing description of the Assignment and Repurchase Agreement is qualified in its entirety by reference to the complete terms and
conditions of the Assignment and Repurchase Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K, and
is incorporated by reference into this Item 1.01.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit
No.
Description
10.1
Loan Assignment and Share Repurchase Agreement, dated as of July 22, 2026, by and between the registrant and Partum AG.
104
Cover
Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
CRISP
MOMENTUM INC.
Date:
July 23, 2026
By:
/s/
Ana Rita Coelho
Name:
Ana
Rita Coelho
Title:
Interim
Chief Executive Officer
EX-10.1
EX-10.1
Filename: ex10-1.htm · Sequence: 2
Exhibit
10.1
LOAN
ASSIGNMENT AND SHARE REPURCHASE AGREEMENT
dated
as of
July
22, 2026
by
and among
Crisp
Momentum Inc.
And
Partum
AG
LOAN
ASSIGNMENT AND SHARE REPURCHASE AGREEMENT
THIS
LOAN ASSIGNMENT AND SHARE REPURCHASE AGREEMENT (this “Agreement”), dated
as of July 22, 2026 (the “Effective Date”), is entered into by and among (i) Crisp Momentum Inc., a Delaware corporation,
having its principal place of business at 250 Park Avenue, 7th Floor, New York, NY 10177, United States (“Assignor”
or “Crisp”); and (ii) Partum AG, a Swiss corporation, having its registered office at Sonnhalde 17, Pfäffikon,
CH 8808, Switzerland (“Assignee” or “Partum AG”). Each of Crisp and Partum AG are referred to herein
individually as a “Party” and collectively as the “Parties”.
W
I T N E S S E T H:
WHEREAS,
Crisp and Nexvers Co., Ltd., a South Korean company having its registered office at 6F, Wonyoung Bldg., 155, Hakdong-ro, Gangnam-gu,
Seoul, Korea, Corporation Registration Number 110111-3623463, Tax ID Number 315-81- 38538 (“Nexvers”), are party to
that certain Loan Agreement dated November 13, 2025 (the “Loan Agreement”), pursuant to which Crisp made a term loan
to Nexvers in an aggregate principal amount of up to Three Million Dollars (USD $3,000,000) (the “Loan”), evidenced
by that certain Promissory Note dated November 13, 2025 (the “Note” and, together with the Loan Agreement, the “Loan
Documents”), and pursuant to which advances under the Loan Agreement were made by Crisp to Nexvers in an aggregate principal
amount of One Million Seven Hundred Thousand Dollars (USD $1,700,000);
WHEREAS,
Nexvers has previously made partial repayment(s) of the Loan in an aggregate amount of Two Hundred Thousand Dollars (USD $200,000), leaving
outstanding obligations under the Loan Documents consisting of (i) an outstanding principal balance of One Million Five Hundred Thousand
Dollars (USD $1,500,000) and (ii) accrued and unpaid interest thereon calculated through the Assignment Date (together, the “Outstanding
Loan Obligations”);
WHEREAS,
Partum AG is a shareholder of Crisp, currently holding 20,000,000 shares of common stock, par value $0.0001 per share, of Crisp (the
“Transferred Stock”);
WHEREAS,
Crisp desires to sell, assign, and transfer to Partum AG all of Crisp’s rights, title, and interest in and to the Loan Documents,
including all rights to collect and enforce the Outstanding Loan Obligations from Nexvers, and Partum AG desires to acquire the same,
in each case on the terms and subject to the conditions set forth in this Agreement;
WHEREAS,
in consideration for such assignment and transfer of the Loan Documents, Partum AG agrees to sell, assign, convey, transfer and deliver
the Transferred Stock to Crisp, free and clear of all Encumbrances (other than restrictions under applicable securities laws);
WHEREAS,
following the Assignment (as defined herein), Nexvers’ obligations under the Loan Documents shall remain in full force and effect
and shall be owing to Partum AG as the new lender and holder of the Loan Documents, and Partum AG shall succeed to all rights and remedies
of Crisp under the Loan Documents with respect to Nexvers;
WHEREAS,
the Parties acknowledge that a principal purpose of the transaction structure is to obtain favorable accounting treatment in connection
with the transfer of the Loan, which accounting treatment has been reviewed and discussed by Crisp with its financial advisor; and
NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements in this Agreement, and for other good and valuable
consideration, the receipt and sufficiency of which are acknowledged, and intending to be legally bound hereby, the Parties agree as
follows:
ARTICLE
I DEFINITIONS
Section
1.01 Definitions.
The
following terms, as used herein, have the following meanings:
“Affiliate”
means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with such
Person. For the purposes of this definition, “control” (including, with correlative meaning, the terms “controlled
by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.
“Assignment”
has the meaning set forth in Section 2.01. “Assignment Date” means the Closing Date.
“Assignment
Consideration” means the transfer of the Transferred Stock by Partum AG to Crisp pursuant to Section 2.02, as full consideration
for the Assignment.
“Board”
has the meaning set forth in Section 4.01(a).
“Business
Day” means a day, other than Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or
required by applicable law to close.
“Closing”
means the consummation of the transactions contemplated by this Agreement.
“Closing
Date” means the date that is three (3) Business Days after satisfaction or waiver of all conditions set forth in Article 4,
or such other date agreed in writing by the Parties.
“Encumbrances”
means all adverse claims, liens, security interests, charges, restrictions and any other encumbrances on an asset.
“Loan”
has the meaning set forth in the Recitals.
“Loan
Agreement” has the meaning set forth in the Recitals. “Loan Documents” has the meaning set forth in the
Recitals. “Nexvers” has the meaning set forth in the Recitals.
“Non-Public
Information” has the meaning set forth in Section 5.03(a). “Note” has the meaning set forth in the Recitals.
“Outside
Date” means July 31, 2026, as such date may be extended by Crisp pursuant to this Agreement.
“Outstanding
Loan Obligations” has the meaning set forth in the Recitals.
“Person”
means any natural person, corporation, partnership, joint venture, trust, limited liability company, association, governmental authority,
or any other entity, whether acting in an individual, fiduciary or other capacity.
“SEC”
has the meaning set forth in Section 6.02.
“Securities
Act” has the meaning set forth in Section 5.03(a).
“Transfer
Agent” means Colonial Stock Transfer Co, Inc., or such other transfer agent of Crisp as may be designated by Crisp in writing.
“Transferred
Stock” has the meaning set forth in the Recitals.
ARTICLE
II ASSIGNMENT OF LOAN DOCUMENTS; SHARE REPURCHASE
Section
2.01 Assignment of Loan Documents.
Subject
to the terms and conditions of this Agreement, effective at Closing, Crisp hereby sells, assigns, transfers, conveys and delivers to
Partum AG all of Crisp’s right, title, and interest in, to and under the Loan Documents, including without limitation: (a) all
rights to collect, demand, receive and enforce payment of the Outstanding Loan Obligations from Nexvers; (b) all rights to exercise any
and all remedies available to Crisp as lender under the Loan Documents or applicable law; (c) all rights to any security, pledge, or
guarantee provided in connection with the Loan Documents; and (d) all other rights, benefits and privileges of Crisp as lender under
the Loan Documents (collectively, the “Assignment”). From and after the Closing, Partum AG shall be the sole lender
and holder of the Loan Documents and shall succeed to all rights, remedies and claims of Crisp against Nexvers thereunder.
Section
2.02 Share Repurchase; Consideration.
In
consideration for the Assignment, and subject to the terms and conditions of this Agreement, at Closing, Partum AG shall sell, assign,
convey, transfer and deliver the Transferred Stock to Crisp, and Crisp shall redeem and accept the Transferred Stock from Partum AG,
free and clear of all Encumbrances (other than restrictions under applicable securities laws), and the Transferred Stock shall be returned
to the status of authorized and unissued shares of Common Stock. At Closing, Partum AG shall deliver to Crisp the stock power in the
form as attached hereto as Exhibit 1, duly executed by an authorized officer of Partum AG, and shall deliver to Crisp such additional
documents as may be required to transfer the Transferred Stock in accordance with this Agreement and the delivery instructions set forth
on Schedule 2. The transfer of the Transferred Stock shall constitute full and final consideration for the Assignment.
Section
2.03 Nexvers’ Obligations Continue.
The
Parties acknowledge and agree that the Assignment does not constitute a novation, satisfaction, or release of Nexvers’ obligations
under the Loan Documents. Notwithstanding the Assignment, Nexvers’ obligations to repay the Outstanding Loan Obligations shall
remain in full force and effect following Closing and shall be owed exclusively to Partum AG as the assignee and new holder of the Loan
Documents. As between the Parties, Partum AG shall have, from and after the Closing, the sole and exclusive right to enforce, collect,
compromise, settle, or otherwise deal with the Outstanding Loan Obligations in its sole discretion, without any obligation to account
to Crisp in respect thereof.
Section
2.04 Notice to Nexvers.
Promptly
following Closing, Crisp and Partum AG shall deliver written notice of the Assignment to Nexvers in the form attached hereto as Schedule
3 (or such other form as the Parties may agree), confirming that (a) all of Crisp’s rights under the Loan Documents have been assigned
to Partum AG, (b) all payments, notices and communications with respect to the Loan Documents shall be directed to Partum AG from and
after the Assignment Date, and (c) Nexvers’ obligations under the Loan Documents remain in full force and effect.
ARTICLE
III RELEASES; PRESERVATION OF NEXVERS OBLIGATIONS
Section
3.01 Release of Crisp by Partum AG.
Effective
upon Closing, Partum AG, for itself and its Affiliates, whether an Affiliate as of the Effective Date or hereafter becoming an Affiliate,
and for each of their respective predecessors, successors, assigns, heirs, representatives, and agents and for all related parties, and
all persons acting by, through, under or in concert with any of them in both their official and personal capacities (the “Partum
Releasing Parties”) irrevocably releases and forever discharges Crisp and its Affiliates and each of their respective directors,
officers, employees, and agents (collectively, the “Crisp Released Parties” and each a “Crisp Released Party”)
from any and all obligations, liabilities, claims, demands, causes of action, damages, costs, and expenses of any kind, whether known
or unknown , that any Partum Releasing Party may now have or may have in the future, against any of Crisp Released Parties, to the extent
that those claims have arisen or may have arisen from the Loan Documents or the transactions contemplated therein or the negotiation,
execution, or performance thereof prior to the Assignment Date (the “Partum Released Claims”, except for claims arising from
a breach of this Agreement.
Partum
affirms that it has not filed, caused to be filed, or presently is a party to any claim, complaint, or action against any Crisp Released
Party in any forum or form and should any such charge or action be filed by any Partum Releasing Party or by any other person or entity
on any Partum Releasing Party’s behalf involving matters covered by Section 3.01, Partum agrees to promptly give the agency or
court having jurisdiction a copy of this Agreement and inform them that any such claims any such Partum Releasing Party might otherwise
have had are now settled.
Partum,
on behalf of itself and on behalf of each of the Partum Releasing Parties, agrees not to file for Partum or on behalf of any Partum Releasing
Party, any claim, charge, complaint, action, or cause of action against any Crisp Released Party related to any Partum Released Claims,
and further agrees to indemnify and save harmless such Crisp Released Parties from and against any and all losses, including, without
limitation, the cost of defense and legal fees, occurring as a result of any claims, charges, complaints, actions, or causes of action
made or brought by any such Partum Releasing Party against any Crisp Released Party in violation of the terms and conditions of this
Agreement. In the event that any Partum Releasing Party brings a suit against any Crisp Released Party in violation of this covenant,
Partum agrees to pay any and all costs of the Crisp Released Party, including attorneys’ fees, incurred by such Crisp Released
Party in challenging such action. Any Crisp Released Party is an intended third-party beneficiary of this Agreement.
Section
3.02 Release of Partum AG by Crisp.
Effective
upon Closing, Crisp for itself and its Affiliates, whether an Affiliate as of the Effective Date or hereafter becoming an Affiliate,
and for each of their respective predecessors, successors, assigns, heirs, representatives, and agents and for all related parties, and
all persons acting by, through, under or in concert with any of them in both their official and personal capacities (the “Crisp
Releasing Parties”) irrevocably releases and forever discharges Partum AG and its Affiliates and each of their respective directors,
officers, employees, and agents (collectively, the “Partum Released Parties” and each a “Partum Released Party”)
from any and all obligations, liabilities, claims, demands, causes of action, damages, costs, and expenses of any kind, whether known
or unknown, arising out of or relating to Partum AG’s capacity as a shareholder of Crisp prior to the Closing Date (the “Crisp
Released Claims”), except for claims arising from a breach of this Agreement.
Crisp
affirms that it has not filed, caused to be filed, or presently is a party to any claim, complaint, or action against any Partum Released
Party in any forum or form and should any such charge or action be filed by any Crisp Releasing Party or by any other person or entity
on any Crisp Releasing Party’s behalf involving matters covered by Section 3.02, Crisp agrees to promptly give the agency or court
having jurisdiction a copy of this Agreement and inform them that any such claims any such Crisp Releasing Party might otherwise have
had are now settled.
Crisp,
on behalf of itself and on behalf of each of the Crisp Releasing Parties, agrees not to file for Crisp or on behalf of any Crisp Releasing
Party, any claim, charge, complaint, action, or cause of action against any Partum Released Party related to any Crisp Released Claims,
and further agrees to indemnify and save harmless such Partum Released Parties from and against any and all losses, including, without
limitation, the cost of defense and legal fees, occurring as a result of any claims, charges, complaints, actions, or causes of action
made or brought by any such Crisp Releasing Party against any Partum Released Party in violation of the terms and conditions of this
Agreement. In the event that any Crisp Releasing Party brings a suit against any Partum Released Party in violation of this covenant,
Crisp agrees to pay any and all costs of the Partum Released Party, including attorneys’ fees, incurred by such Partum Released
Party in challenging such action. Any Partum Released Party is an intended third-party beneficiary of this Agreement.
Section
3.03 No Release of Nexvers.
Nothing
in this Agreement constitutes or shall be deemed to constitute a release, discharge, waiver, amendment, defense, reduction, impairment,
or modification of any obligation of Nexvers under the Loan Documents, all of which are expressly preserved in full and shall remain
enforceable by Partum AG as assignee from and after the Closing Date. Without limiting the foregoing, Partum AG retains the sole and
exclusive right from and after Closing to enforce and collect the Outstanding Loan Obligations against Nexvers in accordance with the
Loan Documents and applicable law.
Section
3.04 No Admission.
This
Agreement does not constitute an admission by any Party of any liability or wrongdoing. This is a compromise and settlement of potential
or actual disputed claims and is made solely for the purpose of avoiding the uncertainty, expense, and inconvenience of future litigation.
Neither this Agreement nor the furnishing of any consideration concurrently with the execution hereof shall be deemed
or construed at any time or for any purpose as an admission by any Party of any liability or obligation of any kind. Any such liability
or wrongdoing is expressly denied. The Parties acknowledge that this Agreement was reached after good faith settlement negotiations and
after each Party had an opportunity to consult legal counsel. This Agreement extends to, and is for the benefit of, the Parties, their
respective successors, assigns and agents and anyone claiming by, through or under the Parties.
Section
3.04 Additional Agreements.
Each
of the Parties hereby waives any and all rights which it may have with respect to this Agreement or the subject matter hereof, under
the provisions of Section 1542 of the Civil Code of the State of California as now worded and as hereafter amended, which section provides
that: “A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his
or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement
with the debtor or released party.”
ARTICLE
IV CONDITIONS TO CLOSING
Section
4.01 Conditions to Crisp’s Obligations.
Crisp’s
obligations to consummate the transactions contemplated by this Agreement at Closing are subject to satisfaction (or waiver by Crisp
in its sole discretion in writing) of each of the following conditions:
(a) Board
Approval. Crisp’s board of directors (the “Board”) shall have
approved this Agreement, including the Assignment and the repurchase of the Transferred Stock.
(b) Delivery.
Partum AG shall have delivered to Crisp the items and instruments as set forth herein
as being required to be delivered by Partum AG to Crisp at the Closing.
(c) Title.
Partum AG has delivered evidence reasonably satisfactory to Crisp that Partum AG holds good
and valid title to the Transferred Stock, free and clear of any Encumbrances (other than
restrictions under applicable securities laws).
(d) DGCL
Compliance. Crisp has determined, based on financial information presented to its Board,
that the repurchase of the Transferred Stock is permitted under Section 160 of the Delaware
General Corporation Law (including the surplus/impairment limitations).
(e) Representations
and Warranties. Each of the representations and warranties of Partum AG set forth in
Article 5 shall be true and correct on and as of the Closing Date, as though given on the
Closing Date.
(f) Performance.
Partum AG shall have performed and complied with all agreements, obligations and conditions
contained in this Agreement that are required to be performed or complied with by it on or
before the Closing.
(g) No
Conflict. No law shall have been enacted, issued or promulgated by any governmental authority
of competent jurisdiction and remain in effect, and no order from any governmental authority
shall have been entered, in each case, that would prevent the performance of this Agreement
or the consummation of any of the transactions contemplated hereby.
(h) Officer’s
Certificate. Crisp shall have received a certificate of Partum AG, executed by an authorized
officer of Partum AG, confirming and certifying that the conditions set forth in Sedction
4.01(e) and Section 4.01(f) have been satisfied.
Section
4.02 Conditions to Partum AG’s Obligations.
Partum
AG’s obligations to consummate the Closing are subject to satisfaction (or waiver by Partum AG in its sole discretion in writing)
of the following conditions:
(a) Delivery.
Crisp shall have delivered to Partum AG the items and instruments as set forth herein as
being required to be delivered by Crisp to Partum AG at the Closing.
(b) Representations
and Warranties. Each of the representations and warranties of Crisp set forth in Article
5 shall be true and correct on and as of the Closing Date, as though given on the Closing
Date.
(c) Performance.
Crisp shall have performed and complied with all agreements, obligations and conditions contained
in this Agreement that are required to be performed or complied with by it on or before the
Closing.
(d) No
Conflict. No law shall have been enacted, issued or promulgated by any governmental authority
of competent jurisdiction and remain in effect, and no order from any governmental authority
shall have been entered, in each case, that would prevent the performance of this Agreement
or the consummation of any of the transactions contemplated hereby.
(e) Officer’s
Certificate. Partum AG shall have received a certificate of Crisp, executed by an authorized
officer of Crisp, confirming and certifying that the conditions set forth in Sedction 4.02(b)
and Section 4.02(c) have been satisfied.
ARTICLE
V REPRESENTATIONS AND WARRANTIES
Section
5.01 Mutual Organization/Authority.
Each
Party represents and warrants to the other Party, as of the Effective Date and as of the Closing Date, that:
(a) it
is duly organized, validly existing and in good standing under the laws of its jurisdiction
of formation and is duly authorized under all applicable laws, regulations, ordinances, and
orders of public authorities to carry on its business in all material respects as it is now
being conducted;
(b) it
has full power and authority to execute and deliver this Agreement and perform the transactions
contemplated by this Agreement;
(c) this
Agreement has been duly authorized by all necessary corporate or other action on its part;
(d) this
Agreement constitutes its legal, valid, and binding obligation, enforceable against it in
accordance with its terms, subject to applicable bankruptcy, insolvency, and similar laws
and general principles of equity; and
(e) the
execution, delivery, and performance of this Agreement do not violate any law applicable
to it, any contract to which it is a party or its organizational documents.
Section
5.02 Crisp’s Representations Regarding the Loan Documents.
Crisp
represents and warrants to Partum AG that:
(a) Crisp
is the sole legal and beneficial owner of the Loan Documents and the Outstanding Loan Obligations
as the lender pursuant to the Loan Documents, and has full right, power and authority to
assign the Loan Documents to Partum AG pursuant to this Agreement;
(b) As
of the Effective Date, the Outstanding Loan Obligations consist of (i) outstanding principal
and (ii) accrued and unpaid interest calculated in accordance with the Loan Agreement through
the Assignment Date, as set forth in Schedule 1;
(c) Crisp
has not assigned, pledged, encumbered, or otherwise transferred any of its rights under the
Loan Documents to any third party, and there are no Encumbrances on the Loan Documents or
the Outstanding Loan Obligations;
(d) to
Crisp’s knowledge, the Loan Agreement and Note are in full force and effect and constitute
legal, valid and binding obligations of Nexvers, enforceable against Nexvers in accordance
with their terms, subject to applicable bankruptcy, insolvency, and similar laws and general
principles of equity; and
(e) Crisp
has not received written notice of any defense, setoff, counterclaim, or right of reduction
asserted by Nexvers against the Outstanding Loan Obligations.
Section
5.03 Partum AG’s Representations Regarding Transferred Stock.
Partum
AG represents and warrants to Crisp that:
(a) Partum
AG is the sole legal and beneficial owner of the Transferred Stock and has, and Crisp will
acquire pursuant to this Agreement, good and valid title to the Transferred Stock, free and
clear of any Encumbrances (other than restrictions under applicable securities laws);
(b) Partum
AG has not granted any option, warrant, conversion right, proxy, voting agreement, or other
right with respect to the Transferred Stock that would conflict with this Agreement and no
Person has any pre-emptive rights or similar rights to purchase or receive any of the Transferred
Stock or other interests in Crisp from Partum AG;
(c) Partum
AG is not an “affiliate” of Crisp within the meaning of Rule 144 under the Securities
Act of 1933, as amended (the “Securities Act”), and is not a director
or executive officer of Crisp; and
(d) Partum
AG is entering into this Agreement on a privately negotiated basis for its own account.
Section
5.04 Securities Law; Information.
Partum
AG acknowledges and agrees as follows:
(a) Crisp
and/or its Affiliates (within the meaning of Rule 405 promulgated under the Securities Act)
now possess and/or may have access to and may hereafter possess and/or have access to certain
non-public information concerning Crisp, its Affiliates and/or the Transferred Stock (the
“Non-Public Information”) which may constitute material information with
respect to the foregoing.
(b) Partum
AG agrees to transfer the Transferred Stock to Crisp notwithstanding that it is aware that
such Non-Public Information exists and that Crisp has not disclosed all Non-Public Information
to it. Partum AG acknowledges that it is a sophisticated party with respect to the transfer
of securities such as the Transferred Stock and that Crisp has no obligation to Partum AG
to disclose such Non-Public Information.
(c) Partum
AG has adequate information concerning the Transferred Stock, and the business and financial
condition of Crisp, to make an informed decision regarding the transfer of the Transferred
Stock, and has independently and without reliance upon Crisp made its own analysis and decision
to transfer the Transferred Stock and to acquire the Loan Documents pursuant to this Agreement.
Section
5.05 Partum AG’s Acknowledgment Regarding Loan Documents.
Partum
AG represents and warrants to Crisp that Partum AG: (a) has had the opportunity to review the Loan Documents and has conducted its own
independent due diligence with respect to the Outstanding Loan Obligations and the creditworthiness and obligations of Nexvers; (b) is
acquiring the Loan Documents and the Outstanding Loan Obligations on an “as-is” basis and without any representation or warranty
from Crisp as to the collectability of the Outstanding Loan Obligations or the financial condition of Nexvers; and (c) understands that
Crisp makes no representation as to the ability of Partum AG to recover any amounts from Nexvers following the Assignment.
Section
5.06 No Broker.
Each
Party represents and warrants that no broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee
or commission in connection with this Agreement based upon arrangements made by or on behalf of such Party.
ARTICLE
VI COVENANTS
Section
6.01 Further Assurances.
Each
Party will execute and deliver such additional documents and take such additional actions as may be reasonably necessary or desirable
to carry out the purposes of this Agreement, including to effect the transfer of the Transferred Stock, to complete the Assignment, and
to deliver any notices or instruments required in connection therewith.
Section
6.02 Public Disclosure; SEC Filings.
The
Parties acknowledge that Crisp may be required (or may determine it is advisable) to disclose this Agreement and the transactions contemplated
by it in press releases and/or filings with the U.S. Securities and Exchange
Commission (the “SEC”). Partum AG hereby consents to such disclosure and filing, including filing this Agreement (and/or
a summary of its material terms) as an exhibit, in each case as Crisp determines in good faith to be necessary or advisable to comply
with applicable securities laws.
Section
6.03 Confidentiality.
Except
as permitted by Section 6.02 or as required by applicable law, regulation, or stock exchange/market rules, each Party will keep confidential
the terms of this Agreement and the existence of discussions relating to it; provided that a Party may disclose such information to its
Affiliates and its and their respective officers, directors, employees, attorneys, accountants, advisors, financiers, and agents who
have a need to know such information and are bound by confidentiality obligations at least as protective as those in this Section 6.03.
Section
6.04 Tax Matters.
Each
Party will be responsible for its own taxes arising from or related to the transactions contemplated by this Agreement. The Parties will
reasonably cooperate in good faith to provide customary tax forms and information reasonably necessary to effect the Assignment and the
transfer of the Transferred Stock.
ARTICLE
VII INDEMNIFICATION
Section
7.01 Indemnification by Crisp.
Subject
to the terms and conditions of this Article 7, provided that the Closing occurs, Crisp will defend, indemnify and hold harmless Partum
AG and its Affiliates and each of their respective officers, directors, employees, agents, successors, and assigns from and against any
and all losses, damages, liabilities, claims, costs, and expenses (including reasonable attorneys’ fees) arising out of or resulting
from (a) any inaccuracy or breach of any of the representations or warranties made by Crisp in this Agreement, or (b) any breach of or
non-fulfillment of any covenant or agreement made by Crisp in this Agreement.
Section
7.02 Indemnification by Partum AG.
Subject
to the terms and conditions of this Article 7, provided that the Closing occurs, Partum AG will defend, indemnify and hold harmless Crisp
and its Affiliates and each of their respective officers, directors, employees, agents, successors, and assigns from and against any
and all losses, damages, liabilities, claims, costs, and expenses (including reasonable attorneys’ fees) arising out of or resulting
from (a) any inaccuracy or breach of any of the representations or warranties made by Partum AG in this Agreement, (b) any breach of
or non-fulfillment of any covenant or agreement made by Partum AG in this Agreement, or (c) Partum AG’s exercise (or failure to
exercise) of any rights under the Loan Documents from and after the Closing Date.
Section
7.03 Survival.
The
representations, warranties, covenants, and agreements of the Parties contained in this Agreement, and the indemnification obligations
set forth in this Article 7, shall survive the Closing and continue in full force and effect until the date that is eighteen (18) months
following the Closing Date; provided that (a) the representations and warranties set forth in Section 5.01 (Mutual Organization/Authority),
Section 5.02 (Crisp’s Representations Regarding the Loan Documents) and Section 5.03 (Partum AG’s Representations Regarding
Transferred Stock) shall survive for the maximum period permitted by applicable law.
Section
7.04. Limitation on Damages. IN NO EVENT WILL ANY PARTY BE LIABLE TO ANY OTHER PARTY UNDER OR IN CONNECTION WITH THIS AGREEMENT
OR IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED HEREIN FOR SPECIAL, GENERAL, INDIRECT OR CONSEQUENTIAL DAMAGES, INCLUDING DAMAGES
FOR LOST PROFITS OR LOST OPPORTUNITY, EVEN IF THE PARTY SOUGHT TO BE HELD LIABLE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.
ARTICLE
VIII TERMINATION
Section
8.01 Termination Prior to Closing.
This
Agreement may be terminated prior to Closing:
(a) by
mutual written agreement of the Parties;
(b) by
Crisp, upon written notice to Partum AG, if any condition in Section 4.01 is not satisfied
or waived by Crisp on or before the Outside Date, provided that Crisp shall not have the
right to terminate this Agreement pursuant to this provision if the reason for the failure
of such conditions to be satisfied was the breach of this Agreement by Crisp;
(c) by
Partum AG, upon written notice to Crisp, if any condition in Section 4.02 is not satisfied
or waived by Partum AG on or before the Outside Date, provided that Partum AG shall not have
the right to terminate this Agreement pursuant to this provision if the reason for the failure
of such conditions to be satisfied was the breach of this Agreement by Partum AG; or
(d) by
either Party upon written notice to the other Party if the other Party has breached any of
its agreements or covenants herein and such breach has not been cured within 5 days of written
notice thereof from the first Party to such breaching Party.
Section
8.02 Effect of Termination.
If
this Agreement is terminated prior to Closing, it will be void and have no effect, and the Loan Documents will remain in full force and
effect between Crisp and Nexvers; provided that Section
6.03
(Confidentiality), Article 9 (Miscellaneous), and this Section 8.02 will survive termination. Termination of this Agreement will not
relieve any Party from a willful breach hereof occurring prior to such termination.
ARTICLE
IX MISCELLANEOUS
Section
9.01 Notices.
All
notices under this Agreement must be in writing and may be delivered personally, sent by reputable overnight courier, or emailed (with
confirmation of transmission), in each case to the addresses below (or to such other address as a Party may designate by notice):
If
to Crisp Momentum Inc.: Address: 250 Park Avenue, 7th Floor, New York, NY 10177 Email: Attention: Ana Rita Coelho
If
to Partum AG: Address: Sonnhalde 17, Pfäffikon, CH 8808, Switzerland Email: Attention: Adele Klein
Any Party may change its
address for notices hereunder upon notice to each other Party in the manner for giving notices hereunder. Any notice hereunder shall
be deemed to have been given (i) upon receipt, if personally delivered, (ii) on the day after dispatch, if sent by overnight courier,
or (iii) upon dispatch, if transmitted by email with return receipt requested and received.
Section
9.02 Assignment.
No
Party may assign this Agreement without the prior written consent of the other Party, whether by operation of law or otherwise, and any
such assignment without such prior written consent shall be null and void and of no force or effect; provided that, notwithstanding the
foregoing, Crisp may assign this Agreement without prior written consent to any Affiliate in connection with an internal reorganization.
Section
9.03 Entire Agreement.
This
Agreement (including its Schedules) constitutes the entire agreement between the Parties with respect to its subject matter and supersedes
all prior and contemporaneous agreements and understandings, whether written or oral, with respect to such subject matter. No presumption
in favor of or against any Party in the construction or interpretation of this Agreement or any provision hereof shall be made based
upon which Person might have drafted this Agreement or such provision.
Section
9.04 Amendment; Waiver.
Any
amendment to this Agreement must be in writing and signed by both Parties. Any waiver must be in writing and signed by the waiving Party.
Section
9.05 Governing Law; Jurisdiction; Waiver of Jury Trial; Attorneys’ Fees.
This
Agreement and any and all claims, proceedings or causes of action relating to this Agreement or arising from this Agreement or the transactions
contemplated herein, including, without limitation, tort claims, statutory claims and contract claims, shall be interpreted, construed,
governed and enforced under and solely in accordance with the substantive and procedural laws of the State of New York, without regard
to conflict of law principles and as applied to contracts to be fully performed within the State of New York.
Each
of the Parties irrevocably consents and agrees that any legal or equitable action or proceedings arising under or in connection with
this Agreement shall be brought exclusively in the state of New York or federal courts of the United States located in New York County,
New York (the “Selected Courts”). By execution and delivery of this Agreement, each Party hereby (a)
submits to the exclusive jurisdiction of any Selected Court for the purpose of any legal action, suit, claim, investigation, hearing
or proceeding, including any audit, claim or assessment for taxes or otherwise (each, an “Action”) arising out of or relating
to this Agreement brought by any Party hereto and (b) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise,
in any such Action, any claim that it is not subject personally to the jurisdiction of the Selected Courts, that its property is exempt
or immune from attachment or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is improper,
or that this Agreement or the transactions contemplated hereby may not be enforced in or by any Selected Court. Each Party agrees that
a final judgment in any Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by Law. Each Party irrevocably consents to the service of the summons and complaint and any other process in any other
Action relating to the transactions contemplated by this Agreement, on behalf of itself, or its property, by personal delivery of copies
of such process to such Party at the applicable address set forth herein, provided that nothing herein shall affect the right of any
Party to serve legal process in any other manner permitted by law.
EACH
PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN (WHETHER BASED
ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES
THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT,
IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN
INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION EACH OF THE PARTIES
ACKNOWLEDGE THAT EACH HAS BEEN REPRESENTED IN CONNECTION WITH THE SIGNING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL SELECTED BY THE
RESPECTIVE PARTY AND THAT SUCH PARTY HAS DISCUSSED THE LEGAL CONSEQUENCES AND IMPORT OF THIS WAIVER WITH LEGAL COUNSEL. EACH OF THE PARTIES
FURTHER ACKNOWLEDGE THAT EACH HAS READ AND UNDERSTANDS THE MEANING OF THIS WAIVER AND GRANTS THIS WAIVER KNOWINGLY, VOLUNTARILY, WITHOUT
DURESS AND ONLY AFTER CONSIDERATION OF THE CONSEQUENCES OF THIS WAIVER WITH LEGAL COUNSEL.
In
the event that any Party institutes any action or suit to enforce this Agreement or to secure relief from any default hereunder or breach
hereof, the prevailing Party shall be reimbursed by the losing Party for all costs, including reasonable attorneys’ fees, incurred
in connection therewith and in enforcing or collecting any judgment rendered therein.
Section
9.06 Counterparts; Electronic Signatures.
This
Agreement may be executed in counterparts, each of which is deemed an original, and all of which together constitute one instrument.
Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal
ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been
duly and validly delivered and be valid and effective for all purposes.
Section
9.07 Severability.
If
any provision of this Agreement is held invalid or unenforceable, the remaining provisions will remain in full force and effect.
Section
9.08 Interpretation.
Headings
are for convenience only and do not affect interpretation. The words “include” and “including” are not limiting.
Section
9.09 No Third-Party Beneficiaries.
Other
than as specifically set forth herein, nothing in this Agreement confers any rights or remedies on any Person other than the Parties.
Section
9.10 Specific Performance.
The
Parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by them
in accordance with the terms hereof or were otherwise breached and that each Party hereto shall be entitled to an injunction or injunctions,
specific performance and other equitable relief to prevent breaches of the provisions hereof and to enforce specifically the terms and
provisions hereof, without the proof of actual damages, in addition to any other remedy to which they are entitled at law or in equity.
Each Party agrees to waive any requirement for the security or posting of any bond in connection with any such equitable remedy, and
agrees that it will not oppose the granting of an injunction, specific performance or other equitable relief on the basis that (a) the
other Party has an adequate remedy at law, or (b) an award of specific performance is not an appropriate remedy for any reason at law
or equity.
Section
9.11 Expenses.
Other
than as specifically set forth herein, each of the Parties will bear their own respective expenses, including legal, accounting and professional
fees, incurred in connection with the transactions contemplated herein.
[Signature
Page Follows]
IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.
CRISP
MOMENTUM INC.
By:
/s/
Ana Rita Coelho
Name:
Ana
Rita Coelho
Title:
Interim
Chief Executive Officer
PARTUM
AG
By:
/s/
Adele Klein
Name:
Adele
Klein
Title:
Member
of the Board
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