Dolphin entertainment, inc. (nasdaqcm:dlpn) acquired shore fire media, ltd. from marilyn laverty for $3 million.

Dolphin entertainment, inc. (nasdaqcm:dlpn) acquired shore fire media, ltd. from marilyn laverty on december 3, 2019. as part of dolphin entertainment, shore fire will continue to operate under its own name out of its existing offices in brooklyn, los angeles and nashville, with marilyn laverty serving as president, and mark satlof, matt hanks and rebecca shapiro continuing to serve as senior vice-presidents. randy bullard of morrison foerster llp served as legal counsel to dolphin entertainment and alyson m. leone of wilentz, goldman & spitzer p a served as legal counsel to shore fire media. dolphin entertainment, inc. (nasdaqcm:dlpn) completed the acquisition of shore fire media, ltd. from marilyn laverty for $3 million on december 3, 2019. dolphin entertainment will pay consideration of $3 million comprising (a) $1 million in cash; (b) $200,000 in shares of the company’s common stock; (c) $140,000 in cash payable to certain key employees of shore fire (d) $250,000 in cash payable on the third month anniversary of the closing date; (e) $250,000 in cash payable on the sixth month anniversary of the closing date; (f) $250,000 in cash payable on each of the twelve and twenty-fourth month anniversaries of the closing date; (g) $200,000 in shares of common stock payable on each of the twelve and twenty-fourth month anniversaries of the closing date; (h) $140,000 in cash payable to the key employees on the twelve month anniversary of the closing date, and (i) 120,000 in cash payable to the key employees on the twenty-fourth month anniversary of the closing date.
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