Editing PBNation (section)

== 2014 VerticalScope acquisition ==

=== Sale agreement ===

On 27 April 2014, CrowdGather entered into an agreement to sell PBNation to VerticalScope Inc.

The transaction was documented in an SEC Form 8-K filed on 1 May 2014.[5]

The agreement included the website and associated domain names.

=== Purchase price ===

The agreed purchase price was US$1,380,000.

CrowdGather's subsequent annual report confirmed that the sale closed on 19 May 2014.[6]

The amount was substantially lower than the maximum potential consideration announced for the 2011 acquisition.

However, the two figures are not directly comparable because the 2011 transaction included conditional consideration and restricted shares.

=== Financial reporting ===

CrowdGather reported a loss associated with the sale.

Its annual filing described the accounting treatment of the transferred assets and associated expenses.[6]

The transaction formed part of CrowdGather's broader changes to its portfolio of online communities.

=== VerticalScope ===

VerticalScope was a Canadian digital media company specialising in online communities and discussion forums.

The acquisition brought PBNation into its network of enthusiast websites.

The 2014 transaction is documented through the original purchase agreement and CrowdGather's public filings.