About EDGAR Online | Login
 
Enter your Email for a Free Trial:
The following is an excerpt from a 8-K SEC Filing, filed by CROSSWALK COM on 10/15/2002.
Next Section Next Section Previous Section Previous Section
AMEN PROPERTIES INC - 8-K - 20021015 - CHANGE_IN_ASSETS

ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS

On August 19, 2002, Crosswalk.com, Inc. (the "Company"), entered into an Asset Purchase Agreement with Salem Communications Corporation (the "Buyer"), pursuant to which the Buyer agreed to purchase substantially all of the assets, used, required, useful or otherwise relating to the ownership, development and operations of the crosswalk.com website (the "asset sale"). The crosswalk.com interactive website provides information and resources that the Company believes generally appeals to the English speaking Christian and family-friendly community. The Biblically based content focuses on topical and lifestyle areas such as entertainment, money, news, homeschooling, family living, and spiritual life. In addition, online applications such as cross-referenced Bible study databases, the largest Christian online directory, chat and forums, and over thirty topical and community related email newsletters are available to visitors of crosswalk.com.

There are no material relationships between Salem Communications Corporation and the Company or any of its affiliates, any director or officer of the Company, or any associate of any such director or officer of Crosswalk.com, Inc.

On October 4, 2002, the asset sale was completed as the Company received approximately $4.1 million in cash and the Buyer acquired the crosswalk.com website and related assets. This consideration is subject to post closing adjustments, which are not expected to be material. Certain assets and liabilities unrelated to the crosswalk.com website, primarily involving leases and the card deck business were retained by the Company.

BROKERAGE PARTNERS