TPT Global Tech, Inc. (OTCQB: TPTW) announced today it has completed its $1.75M Asset acquisition of SpeedConnect LLC and the assumption of certain liabilities. The Asset Purchase Agreement required a deposit of $500,000, paid as part of entering into the Asset Purchase Agreement and an additional $500,000 paid at closing. In addition, at the time of closing, the Company entered into a Promissory Note to pay SpeedConnect $1,000,000 in two equal installments of $500,000 plus applicable interest at 10% per annum with the first installment payable within 30 days of closing and the second installment payable within 60 days of closing.
TPT Global Tech Inc. was formed as the successor of two US Corporations, Ally Pharma US, a Pharmaceutical technology research company founded in 1988 and TPT Global Inc. a worldwide, Media Content, Voice and Data, Interconnect and International gateway provider. TPT Global Tech is headquartered in San Diego, California and operates as a holding company for its Media, Smartphone, Network, Content, and SaaS domestic and international businesses.
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