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| 8-K - FRIENDABLE, INC. 8-K - Friendable, Inc. | friendable_8k-17484.htm |
EXHIBIT
10.1
SHARPS TECHNOLOGY
INC.
One Penn Plaza, 36th Floor
New York, NY10119
September 10, 2018
Friendable, Inc.
1821 S. Bascom Avenue
Campbell, CA 95008
Attn:
Robert
Rositano
Dean
Rositano
Dear Robert and Dean,
On
behalf of the Board, I'm sorry to say that Sharps Technology Inc
must terminate the merger contemplated in our Merger Agreement,
dated June 27, 2018.
The
length of time this has thus far taken is far longer than imagined
and shows no sure sign of abating. We commenced speaking in January
with an aim of completing a rapid transaction. Due to the
complexity, spin off of assets, recent events and other
requirements I question whether final approval will be received
this year.
In
light of the aforementioned, the Board of Sharps Technology no
longer feels it is in our interest to proceed with the merger. This
letter shall serve as formal termination of the Merger Agreement
pursuant to Section 10.1 of the Merger Agreement and the related
Spin Off Agreement.
Our
decision is final and does not imply anything untoward with respect
to Friendable, its business or its stakeholders.
Robert
and Dean, we wish you good luck in your endeavors.
Please
make our decision known to your shareholders as
required.
The
Grushko law firm has been copied.
Please
feel free to call and discuss the matter.
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Best,
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By:
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/s/
Alan Blackma
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Name: Alan Blackman
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Title: Executive Chairman
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cc: Barbara Mittman
Edward
Grushko