Item 1.01 Entry into a Material Definitive Agreement. On January 9, 2014 , Blue Calypso, Inc. (the "Company") entered into agreements with the holder (the "Holder") of certain of its outstanding warrants originally issued in private placement transactions in September 2011 and April 2012 . Pursuant to such agreements, which are more fully described below, the Company agreed to extend the period during which the warrants are exercisable at a reduced exercise price. As reported in the Company's Current Report on Form 8-K dated September 13, 2013 , the Company previously amended such outstanding warrants in order to remove the cashless exercise feature and certain anti-dilution protections contained in such warrants. In exchange, the Company agreed to provide for a temporary reduction in the exercise price of such warrants from $0.10 to $0.05 through the later of December 31, 2013 or 45 days after a registration statement covering the underlying shares is declared effective by the SEC . As of January 9, 2014 , an aggregate of 11,200,000 warrants have been exercised in consideration of proceeds to the Company of $560,000 . Pursuant to Amendment No. 4 to Common Stock Purchase Warrants, the exercise price of the warrants originally issued to the Holder in September 2011 shall be $0.05 per share until March 10, 2014 . Following such date, the exercise price shall increase to $0.15 per share. Pursuant to Amendment No. 3 to Common Stock Purchase Warrants, the exercise price of the warrants originally issued to the Holder in April 2012 shall be $0.05 per share until March 10, 2014 . Following such date, the exercise price shall increase to $0.15 per share. Amendment No. 4 to Common Stock Purchase Warrants and Amendment No. 3 to Common Stock Purchase Warrant are attached as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K. The above descriptions are qualified by reference to the complete text of the documents and agreements described. However, those documents and agreements, including, without limitation, any representations and warranties contained in those documents, are not intended as documents for investors and the public to obtain factual information about the current state of affairs of the parties to those documents and agreements. Rather, investors and the public should look to other disclosures contained in the Company's reports under the Exchange Act. Item 9.01
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