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indiepub entertainment inc (IPUB) Key Developments

indiePub Entertainment, Inc. Files Form 15

indiePub Entertainment, Inc. announced that it has filed Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock of par value $0.001 per share under the Securities Exchange Act of 1934, as amended.

indiePub Entertainment, Inc. Announces Management Changes

Effective as of January 4, 2013, the Board of Directors of indiePub Entertainment, Inc. appointed Ray Schaaf as President and Chief Executive Officer of the company and transitioned Mark Seremet to the position of Chief Strategy Officer of the company. Effective December 28, 2012, Mr. Schaaf became a member of the company's Board of Directors. Mr. Seremet has been the company's Chief Executive Officer and President since May 2009, and has served as a director since September 2008. He has been Chief Executive Officer of Zoo Games, Inc., since January 2009 and has served as President of that company since April 2007. Mr. Schaaf has over 25 years of digital media experience, including games, content, ecommerce, and mobile industries. Prior to joining the company as a consultant in August 2011, from 2009 Mr. Schaaf served as President of Neumedia, Inc. and also served on that company's Board. From 2007 to 2009, Mr. Schaaf served as President and Chief Executive Officer of Arcadia Entertainment, Inc. From 2005 to 2007, Mr. Schaaf was Chief Operating Officer of Navio. Mr. Schaaf previously held executive positions at Glu Mobile, Intershop Communications AG, Veritas Software, NeXT Computers and Ziff Davis.

Indiepub Entertainment, Inc. Enters into the Third Amendment to Loan and Security Agreement

Effective November 28, 2012, indiePub Entertainment, Inc. entered into the Third Amendment to Loan and Security Agreement, pursuant to which the parties agreed to amend that certain Loan and Security Agreement dated as of March 9, 2012, by and between the Borrowers and MMB. Pursuant to the Third Amendment, MMB agreed to provide up to $850,000.00 in additional funding to the Borrowers under the LSA. The Additional Funding shall bear interest at the lesser of a rate of 10% per annum or 18% per annum upon the ocurrence of an event of default, or the maximum rate permitted by law.


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