Form 8-K - Current report
December 21 2023 - 4:01PM
Edgar (US Regulatory)
false
0001534154
0001534154
2023-12-19
2023-12-19
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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):
December 19, 2023
authID Inc.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-40747 |
|
46-2069547 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification Number) |
1580 N. Logan St, Suite 660, Unit 51767, Denver,
Colorado 80203
(Address of principal executive offices) (zip code)
516-274-8700
(Registrant’s telephone number, including area
code)
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. below):
☐ |
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 |
|
Name
of each exchange on which registered |
Common Stock par value $0.0001 per share |
|
AUID |
|
The Nasdaq Stock Market, LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 June
6, 2023, authID Inc. (the “Company”) entered into a services agreement with The Pipeline Group, Inc. (“TPG”). Ken
Jisser, a director of the Company, is the founder and CEO of TPG, a technology-enabled services
company that aims to deliver business results for companies looking to build a predictable and profitable pipeline. The agreement
provides that TPG will assist in providing outsourced sales including business development resources for outbound calling, provide support
for automated dialing technology, classify customer data and other sales related services for an initial term of one year. On October
25, 2023, the Company entered into an amendment to the above services agreement, pursuant to which TPG will provide certain additional
services to the Company. On December 19, 2023, the Company entered into a further amendment to the above services agreement, pursuant
to which TPG will provide certain additional services to the Company. In consideration of the services, the Company will pay TPG $98,000
per month during the remainder of the initial one-year term.
The foregoing is only a summary
of the material terms of the agreement entered with TPG and does not purport to be a complete description of the rights and obligations
of the parties thereunder. The summary of the agreement entered with TPG is qualified in its entirety by reference to the form of such
agreement, which is filed as an exhibit to this Current Report and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
(d) Index of Exhibits
♯ |
Certain confidential portions of this exhibit were omitted by means of marking such portions with asterisks because the identified confidential portions (i) are not material and (ii) would be competitively harmful if publicly disclosed. |
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.
|
authID Inc. |
|
|
|
Date: December 21, 2023 |
By: |
/s/ Edward Sellitto |
|
Name: |
Edward Sellitto |
|
Title: |
Chief Financial Officer |
Exhibit 10.1
Confidential Material Omitted – To be filed separately with the
Securities and Exchange Commission upon request. Double asterisks denote omissions.
|
ORDER
FORM |
|
|
Ken Jisser, CEO |
|
The Pipeline Group |
|
1625 The Alameda, Suite 402 |
|
San Jose, CA 95126 |
|
Phone: (408) 348-5069 |
|
Email: [**] |
|
|
|
Rhon Daguro, CEO |
|
Ed Sellitto, CFO |
|
Graham Arad, General Counsel |
|
AuthID Inc. |
|
1580 N. Logan St, Ste 660,
Unit 51767 |
|
Denver, Colorado 80203 |
|
|
|
BANK DETAILS: |
|
|
|
Bank of America |
|
6490 Camden Ave, San Jose CA 95120 |
|
Phone: (408) 977-4820
|
|
Account Name: The Pipeline Group |
|
Account Number: [**] |
|
Routing Number: [**] |
|
TPG
Addendum
Addendum
to TPG Order Form (June 2023 as amended October 2023)
DocuSign
Envelope ID: 178E234E-0EFC-44C7-A643-1A475E8A6B44
Launchpad
xDR as a Service |
|
Deliverables |
|
|
|
1. Two (2) Full-Time Equivalent Business Development Representatives (xDRs) – xDRs As A Service for outbound calling
- [**] |
|
[**] |
|
|
|
2. xDR Support (xDR) - xDR Support Rep for Full-Time Equivalent xDR
- [**] |
|
[**] |
Technology
Package
Technology |
|
Deliverables |
|
|
|
LaunchQTM – [**] |
|
[**] |
|
|
|
TPG Task & Activity Outcome Package –
[**] |
|
[**] |
|
|
|
TPG Exception Reporting – [**] |
|
[**] |
|
|
|
TPG Meeting Influence Tracking –
[**] |
|
[**] |
|
|
|
TPG Account Matcher – [**] |
|
[**] |
|
|
|
TPG Predictable Pipeline Reporting – [**] |
|
[**] |
|
|
|
TPG Email Engagement – [**] |
|
[**] |
Project
Assumptions
Assumption |
|
Comments |
|
|
|
1. Customer will provide timely access to sales and
marketing content and collateral. |
|
|
|
|
|
2. Automated Dialer licenses are included |
|
List price $[**]/Month |
|
|
|
3. Travel expenses are not included |
|
Travel and Expenses will be approved in advance by
Customer and added to a separate invoice. |
|
|
|
4. The TPG Data & Technology Package is included
in the active services agreement. |
|
All data & technology included during the term
of this agreement. |
|
|
|
5. Custom or Salesforce APEX code development not in
scope |
|
|
|
|
|
6. Anticipated Results (per xDR):
[**] |
|
[**] |
|
|
|
7. CRM license fees not included |
|
CRM license fees are included when operating in The
Pipeline Group Salesforce org. |
|
|
|
8. TPG Data Services |
|
Human-verified data [**] records per month per xDR.
For example, if there are [**] xDRs assigned to the customer, the xDR team would receive up to [**] records per month.
[**] |
Terms
Start
Date |
|
End
Date |
|
Terms |
|
Price |
1/1/2024 |
|
6/18/2024 |
|
Term: Co-termed with “TPG Order Form (June 2023 as amended October
2023)”. |
|
The Pipeline Group PE Partner Package
Main Tasks & Products 1-2
|
|
|
|
|
|
|
|
|
|
|
|
DocuSign Envelope ID: 178E234E-0EFC-44C7-A643-1A475E8A6B44 |
|
Total Price: [**] per Month
Co-termed with Original “TPG
Order Form (June 2023)”
|
Payments | |
Terms | |
Project Scope: Main Tasks
1-2 | |
| | |
Add [**] additional
xDR as a Service at [**]. | |
$ | [**] | |
Monthly payments are due on the 20th business day of every month and
The Pipeline Group will invoice 30 days in advance. The terms, pricing, and conditions included herein expire if this proposal is not
executed on or before 12/28/2023.
Please make all checks or wire transfers payable to The Pipeline Group,
Inc.
Signatories
authID Inc. |
|
The Pipeline Group, Inc. |
|
|
|
Signed |
/s/ Ed Sellitto |
|
Signed |
/s/ Ken Jisser |
Name |
Ed Sellitto |
|
Name |
Ken Jisser |
Title |
CFO |
|
Title |
CEO |
Date |
12/19/2023 |
|
Date |
12/19/2023 |
The information contained in this order form is confidential information.
Exhibit
A
Payment
Schedule
Subscription
Period | |
January
1, 2024 - June 18, 2024 | |
Term
Length | |
| 6
(months) | |
30-Day
Set-up & Configuration | |
$ | [**] | |
Monthly Per
xDR Price (List) | |
$ | [**] | |
Monthly Per
xDR Price (Discount) | |
$ | [**] | |
Monthly
Price | |
$ | 98,000 | |
Total Price | |
$ | 574,000 | |
Deliverables | |
| [**] | |
[**]111
This Payment Schedule replaces and supersedes the Payment Schedule
in the Order Form dated effective as of October 16, 2023
6
v3.23.4
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 2 such as Street or Suite number
+ References
+ Details
Name: |
dei_EntityAddressAddressLine2 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 3 such as an Office Park
+ References
+ Details
Name: |
dei_EntityAddressAddressLine3 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Section 14a -Number 240 -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
authID (NASDAQ:AUID)
Historical Stock Chart
From Apr 2024 to May 2024
authID (NASDAQ:AUID)
Historical Stock Chart
From May 2023 to May 2024