APPYEA, Inc. (OTC Pink: APYP) is engaged as a global mobile app developer. Shares of the mobile application company are surging 55.56%, through early trading on Tuesday, June 13, 2017. Over the past month, APPYEA, Inc. reported average daily volume of 4.68 million shares. However, volume of 21.47 million shares or dollar volume of $30,058, has already exchanged hands on Tuesday.
Shares of APPYEA, Inc. are jumping today, after the company filed an 8-K, which detailed of a Management Services Agreement with The Diagnostic Group, LLC. Under the terms of the agreement, APPYEA, Inc. will perform direct marketing services for The Diagnostic Group, LLC’s products. APPYEA, Inc. will collect 35% of net collected revenues from recruited customers. Here is the part of the 8-K detailing of the management services agreement:
APPYEA, Inc. 8-K Filing
Item 1.01 Entry into a Material Definitive Agreement
On June 9, 2017, the Company entered into a Management Services Agreement (“MSA”) with The Diagnostic Group, LLC, A Delaware limited liability company (“TDG”) under the terms of which, the Company shall perform activities related to direct marketing of TDG products and services to healthcare providers. The initial term of the Agreement will be for thirty-six (36) months from the effective date. The MSA shall automatically renew for successive one (1) year terms , unless either Party gives the other Party ninety (90) days’ written notice of termination prior to the effective date of any renewal term, or unless the MSA is terminated earlier in accordance with Section 6 of the MSA. The Company will be paid for providing services to directly recruited customers at the rate of 35% of the Net Collected Revenue collected from non-federally funded payors by third party providers affiliated or contracted with TDG for ancillary services ordered by recruited customers less any lab specific costs related to any referred samples and/or services and less any refunds or chargebacks. The Company will be paid by the 15 th of each month for Net Collected Revenue from the previous month. The MSA is attached as exhibit 10.1 to this Form 8-K, and is incorporated herein by reference.
Here is the link to the full 8-K: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12125849