House of Doge Deal Would Trade Such App Assets for $4 Million in Shares

House of Doge (U.S.) Inc. agreed to transfer specified Such App assets to ABJ Labs Inc., which does business as Dogecoin Labs, for $4 million in shares, defining a deal limited to commercial app property.

The Oct. 19 agreement values the shares using a $120 million fully diluted pre-money valuation. It sets no closing date; conditions include lender consents and completion of the asset transfers. The transaction had not closed as of the filing. The planned transfer and its closing conditions were described in earlier coverage.

The specified assets include Such App software, source code, infrastructure, domains and data, along with the X accounts @thesuchapp and @houseofdoge. The agreement does not list @dogecoin_devs. It excludes Dogecoin and Dogecoin Foundation names and marks.

Dogecoin Labs announced Wednesday, Oct. 21, that it plans to bring MyDoge, DogeOS and Such App into one organization. The broader plan groups a wallet, an app platform and a payments tool. The Dogecoin Foundation will continue stewardship and open-source development support. The asset-transfer agreement covers Such App; it does not specify legal arrangements for MyDoge or DogeOS.

The agreement does not cover Dogecoin (DOGE) or Dogecoin Core software. Dogecoin Core is a community-driven software project whose development is open for public review, discussion and contributions.

In separate terms, the Dogecoin Foundation and House of Doge ended their exclusive brand license effective Monday, Oct. 19, as covered in earlier reporting on the brand deal. House of Doge and its U.S. subsidiary agreed to change their corporate names before Dec. 31. The subsidiary also agreed to pay the Foundation $400,000 when sufficient funds are available, with no payment date set.