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Recruiter.com to close sale of domain name to Job Mobz by end of March

January 09, 2024

Recruiter.com Group Inc. (NASDAQ: RCRT) plans to complete the sale of its Recruiter.com domain name and other assets to Job Mobz Inc. by March 31, according to a regulatory filing. The sale comes as part of a revamping of Recruiter.com.

Job Mobz initially struck a deal to buy the domain name and other assets on Aug. 16, 2023, according to the filing. The purchase price is $1.8 million.

The deal is part of a restructuring of Recruiter.com. The company plans to acquire fintech firm GoLogic in exchange for up to an 84% stake in Recruiter.com. Plans also call for Recruiter.com to adopt a new name and to spin out its remaining operations that are not part of GoLogic into a separate company. Current shareholders in Recruiter.com would hold shares in both the existing company — a 16% stake — and the new company, which would be traded on the OTC.

In its most recent earnings filing, Recruiter.com reported revenue of $183,722 in its fiscal third quarter ended Sept. 30, 2023, down from $5.8 million in the third quarter of the previous year. The company said the decrease came as it transitioned its recruiter-on-demand business to Job Mobz.

Separately, Recruiter.com sold its healthcare staffing business to Futuris Co. (OTCMKTS: FTRS) for $500,000 in Futuris stock and earnouts of up to $2 million in the quarter ended Sept. 30, 2023, according to a regulatory filing.

During the quarter, Recruiter.com also registered a direct and private placement offering at approximately $1.0 million and effected a one-for-15 reverse stock split to meet Nasdaq listing requirements.