Gawk Incorporated (OTCPK:GAWK) signed a letter of intent to acquire the assets of Connexum LLC on November 17, 2015.

Gawk Incorporated (OTCPK:GAWK) completed the acquisition of the assets of Connexum LLC on for $3.05 million January 18, 2016. Of the consideration, $1 million was paid in notes with annual interest of 18%, issuance of 5 million shares of preferred stock valued at $0.05 million and deferred consideration of 1 Series C Preferred share convertible into $1 million common shares if Connexum achieves 80% of anticipated revenue and another 1 Series C Preferred share convertible into $1 million common shares if Connexum achieves 100% of anticipated revenue within one year from the date of acquisition.