Item 1.01 Entry Into a Material Definitive Agreement On July 14, 2026, Duos Technologies Group, Inc. (the “Company”) purchased a building and related land (collectively, the “Property”) in Columbus, Georgia for use as a data center. The purchase price of the Property was $15 million in cash and the issuance of a Seller Contingent Earnout Note (the “Note”).…
Duos Technologies, until recently, was our sole operating entity and is currently being led by our Chief Technology Officer. Its mission is to develop leading edge technologies as Duos has done since its inception. It consists of a dedicated team of developers focused on creating solutions for the transportation industry and has spent much of the past five years focused on building the premier offering for large rail operators. It has been successful in securing 11 patents that cover much of the “best in class” wayside technology offerings.
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Item 1.01Item 1.01 - Entry into Material Agreement
Item 1.01 Entry Into a Material Definitive Agreement
On July 14, 2026, Duos Technologies
Group, Inc. (the “Company”) purchased a building and related land (collectively, the “Property”) in Columbus,
Georgia for use as a data center. The purchase price of the Property was $15 million in cash and the issuance of a Seller Contingent
Earnout Note (the “Note”). The Note has a three-year term and provides that the Company will make payments to the seller
solely upon the achievement of certain specified milestones. For each additional 5 MW of power delivered by or on behalf of
the seller above the amount available to the Property at closing, the Company will pay the seller $5 million. There are three milestones
in the Note, so that it allows for a maximum payout of $15 million. If any milestone is not achieved by the end of the three-year
term, no payment will be made with regard to that milestone. At the seller’s option, at any time on or after December 14,
2026, a milestone payment may be made in restricted shares of the Company’s common stock, par value $0.001 per share, at a fixed
price through the term of $10.50 per share.
The foregoing description
of the Note is not complete and is qualified in its entirety by reference to the form of the Note, a copy of which is filed as Exhibit
10.1 to this Current Report on Form 8-K and is incorporated herein by reference.