Asset Entities Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
UNITED STATES
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CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed, Asset Entities Inc., a Nevada corporation (the “Company”), entered into a Purchase Agreement, dated as of November 25, 2024 (the “Purchase Agreement”), with Jeff Blue (“Owner”), pursuant to which the Owner granted the Company a 50% ownership interest in the film, TV, streaming, and other media adaptation rights to the literary work entitled “One Step Closer: From Xero to #1: Becoming Linkin Park” (the “Work”) for a payment of $120,000, plus an additional $40,000 for creating a screenplay, with specific milestones for payment. A description of the Purchase Agreement was disclosed in the Company’s Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 2, 2024.
On August 18, 2025, the Company entered into an Assignment and Assumption Agreement, dated as of August 18, 2025 (the “Assignment Agreement”), with Hybrid Assets LLC, a Texas limited liability company (“Hybrid”), and Owner, pursuant to which the Company will assign all of its right, title and interest in, to and under the Purchase Agreement to Hybrid in exchange for Hybrid assuming all duties, liabilities, and obligations of the Company under the Purchase Agreement and Owner releasing the Company from any secondary liability under the Purchase Agreement. The Assignment Agreement contains certain representations and warranties customary for an agreement of this type. In connection with the Assignment Agreement and as additional consideration for the Company’s willingness to assign its rights under the Purchase Agreement, Hybrid is paying the Company an assignment fee of $200,000 pursuant to a separate letter agreement (the “Letter Agreement”) between the Company and Hybrid.
Hybrid is managed by Michael Gaubert, the Company’s Executive Chairman and director, and Matthew Krueger, the Company’s Chief Financial Officer, Treasurer and Secretary. Owner is the Company’s Head of Entertainment.
The foregoing description of the Assignment Agreement and the Letter Agreement does not purport to be complete and is qualified in its entirety by the Assignment Agreement and the Letter Agreement, copies of which are filed as Exhibit 10.1 and Exhibit 10.2, respectively, hereto and are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Assignment and Assumption Agreement dated August 18, 2025, by and among Asset Entities Inc., Hybrid Assets LLC and Jeff Blue | |
| 10.2 | Letter Agreement dated August 18, 2025, between Asset Entities Inc. and Hybrid Assets LLC | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: August 20, 2025 | ASSET ENTITIES INC. | |
| /s/ Arshia Sarkhani | ||
| Name: | Arshia Sarkhani | |
| Title: | Chief Executive Officer and President | |
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