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): January 6, 2021

 

LOGIQ, INC.

 

(Exact name of registrant as specified in its charter)

 

Delaware   000-51815   46-5057897
(State or other jurisdiction
of incorporation)
 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

85 Broad Street, 16-079

New York, New York 10004

 

(Address of Principal Executive Offices)

 

Registrant’s telephone number, including area code: (808) 829-1057

 

 

 

(Former name or former address, if changed since last report)

 

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(s)   Name of each exchange on which registered
None   N/A   N/A

 

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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

 

Board Appointment

 

Effective January 6, 2021, Lea Hickman was appointed as an independent director to the Board of Directors (the “Board”) of Logiq, Inc., a Delaware corporation (the “Company”). The Company’s Board now consists of eight (8) members, five (5) of which are considered to be independent directors.

  

There is no arrangement or understanding between Ms. Hickman and any other person pursuant to which Ms. Hickman was selected as a director of the Board. Ms. Hickman is not a participant in, nor is she to be a participant in, any related-person transaction or proposed related-person transaction required to be disclosed by Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended.

 

Item 7.01 Regulation FD Disclosure

 

On January 7, 2021, the Company issued a press release announcing the appointment of Ms. Hickman as a member of the board. A copy of this press release is attached hereto as Exhibit 99.1 and is being furnished with this Current Report.

 

The information set forth under Item 7.01 of this Current Report, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section. The information in Item 7.01 of this Current Report, including Exhibit 99.1, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing, except as expressly set forth by specific reference in such a filing. This Current Report will not be deemed an admission as to the materiality of any information in this Current Report that is required to be disclosed solely by Regulation FD.

 

Forward Looking Statements

 

This Current Report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this Current Report, including statements regarding the Employment Agreement, issuing incentive compensation, the potential adoption of an equity incentive plan, business strategy, and related plans are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In addition, projections, assumptions and estimates of the Company’s future performance and the future performance of the markets in which the Company operates are necessarily subject to a high degree of uncertainty and risk. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “would,” “could,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this Current Report are only predictions. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, operating results, business strategy, short-term and long-term business operations and objectives. These forward-looking statements speak only as of the date of this Current Report and are subject to a number of risks, uncertainties and assumptions. The events and circumstances reflected in such forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Moreover, the Company operates in a very competitive and rapidly changing environment. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict all risks and uncertainties. Except as required by applicable law, the Company does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Press Release, dated as of January 7, 2021

 

-1-

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  LOGIQ, INC.
     
Dated: January 7, 2021 By: /s/ Brent Y. Suen
    Brent Y. Suen, President

 

 

-2-

 

 

Exhibit 99.1

 

 

 

Logiq Appoints Tech Industry Veteran, Lea Hickman, to Board of Directors

 

New York, NY – January 7, 2021 – Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has appointed Lea Hickman to its board of directors. As an independent director, her appointment increases the board to eight members, with five serving independently.

 

Hickman is a seasoned technology product strategist with more than 25 years’ experience building and executing go-to-market strategies. She brings to Logiq an extensive record in successful strategy execution while serving in several senior level positions at top technology companies.

 

She presently serves as a partner at Silicon Valley Product Group, a global product consulting firm where she advises major tech companies and executives. She was previously vice president of product at InVision, a digital product design platform for creating superior customer experiences. She was responsible for establishing the product management structure and best practices for the collaborative design platform.

 

Before InVision, Hickman was the vice president of consumer business at Adobe Systems, where she was responsible for more than $200 million in business and 20 million Adobe users. At Adobe, she also led product management for all design, web and interactive tools, including Dreamweaver, Flash, InDesign and Illustrator. These products comprised a portfolio totaling $1.2 billion. She developed Adobe’s Creative Cloud concept, which became the driving force that transformed Adobe from a boxed software to one of the industry’s most successful SaaS business models.

 

“We believe Lea’s wealth of knowledge and global industry experience working with Silicon Valley companies will prove to be extremely beneficial to Logiq as we further develop and execute our go-to-market strategies,” noted Logiq’s CEO, Tom Furukawa. “We have arrived at a critical inflection point in our evolution, especially after acquiring Fixel AI and recently launching a major state-backed micro-lending program in Indonesia. We expect Lea to play an instrumental role in guiding our go-to market strategies as we continue to evolve into a leading global innovator of data-driven consumer intelligence and marketing technology platform. I’m excited to have her on board.”

 

Prior to Adobe, Hickman was as a senior director of market development at Macromedia and assisted the company in defining go-to market strategies for its emerging, high growth businesses. She also served as vice president of marketing at Catapulse, which was later acquired by Rational Software, where she was responsible for all corporate and marketing functions. She earlier served as the director of product management at Netscape, where her successful repositioning of the product drove annual revenue growth from $12 million to $32 million in one year.

 

“I’m excited to join Logiq at this pivotal time in its growth and product development,” said Hickman. “The company’s current transition to a data-driven consumer and intelligence marketing company allows it to address the challenges facing the continuously changing landscape of the digital marketing industry. I have served several innovative technology and digital marketing companies, and have assisted with their rollout and structure of a variety of product offerings.

 

“Logiq’s platforms are uniquely capable of delivering a superior digital marketing solution to providers and consumers alike, and Tom has assembled some of the best minds in the industry to bring it to market. I hope to share my technical experience establishing essential product management structures to Logiq’s innovative eCommerce and fintech solutions.”

 

Hickman began her career at IBM Corporation as a consultant for its subsidiary, Integrated Systems Solutions Corporation, which provides a broad range of outsourcing services. Hickman was awarded the Technology Excellence Award for the Disney Epcot Innovations Exhibit in Orlando, Florida for her outstanding performance and achievements.

 

 

 

 

Hickman received her B.A. in Sociology and Social Psychology from Lehigh University and completed the Executive Program for Growth Companies at Stanford University.

 

About Logiq

 

Logiq, Inc. (OTCQX: LGIQ) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s PayLogiq™ offers mobile payments, and GoLogiq™ offers hyper-local food delivery services. For more information about Logiq, go to Logiq.com.

 

Forward-Looking Disclaimer

 

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq ’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, the successful launch and development of Logiq’s partnership with KMSB, including the related pilot programs, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

 

Company Contact

 

Brent Suen, President

Logiq, Inc.

Email contact

 

Media & Investor Contact

 

Ronald Both or Grant Stude

CMA Investor & Media Relations

Tel (949) 432-7566

Email contact