Thomas D. Spruce - Dec 22, 2023 Form 4 Insider Report for Electronic Servitor Publication Network, Inc. (XESP)

Role
COO, Secretary and Director, Director
Signature
/s/ Ashley L. Duran, Attorney-in-fact for Thomas D. Spruce
Stock symbol
XESP
Transactions as of
Dec 22, 2023
Transactions value $
$0
Form type
4
Date filed
12/27/2023, 02:36 PM
Previous filing
Apr 7, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction XESP Common Stock Award +500K +93.02% 1.04M Dec 22, 2023 By LLC F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Issuer, Electronic Servitor Publication Network, Inc., entered into an Agreement and Plan of Merger with Pointward Inc. on Friday, December 22, 2023 (the "Merger"). Pursuant to the terms of the Merger, Reporting Person, Thomas D. Spruce, through his wholly controlled entity, Spruce Solutions LLC, received 500,000 shares of the Issuer's Common Stock as a shareholder of Pointward Inc. Spruce Solutions LLC is an entity owned and controlled by the Reporting Person. The Merger was a cashless stock-for-stock exchange. Since Spruce Solutions LLC previously owned 500,000 shares of common stock of Pointward Inc., Spruce Solutions LLC received 500,000 shares of the Issuer's Common Stock as its shares of common stock of Pointward, Inc. were converted to 500,000 shares of the Issuer's Common Stock on a one-for-one basis. The closing price of the Issuer's Common Stock on the OTCQB was $0.1989 on December 22, 2023, the effective date of the Merger.
F2 The Reporting Person is the beneficial owner of the Issuer's Common Stock held by Spruce Solutions LLC.