UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Item 8.01. Other Events.
Effective February 28, 2023, a significant customer of the registrant FISION Corporation, a Delaware corporation (“FISION”) ceased utilizing Fision’s cloud-based marketing solution. Historically, the customer has represented approximately 38% of the total revenues of Fision.
Effective March 1, 2023, Fision executed a statement-of-work (“SOW”)/ contract with a health and wellness company in the United States for technical support under which Fision will earn revenues well in excess of the lost revenue from the contract termination noted above.
Fision intends to re-position the technical assets that support this customer to opportunities in the IT outsourcing space as United States and Canadian-based corporations seek low cost IT outsourcing solutions nearer to their home markets and Fision’s technical team primarily resides in Puerto Rico, which has significant cost and tax advantages while still being part of the United States.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FISION CORPORATION (Registrant) | ||
| By: | /s/ John Bode | |
| Interim Chief Executive Officer | |
| Dated: March 3, 2023 | ||
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