Posted On: 12/08/2016 9:02:56 AM
Post# of 75358
About a third of the way through the 10Q, on F8, a paragraph describing the LOI was included:
"On September 9, 2016, the Company, its controlling shareholder, and an outside investor group executed a letter of intent granting the investor group the option to
purchase 100% of the Company’s Series A Preferred Stock, which represents a controlling interest in the Company. The agreement between the parties requires
that the investors provide the Company sufficient capital to move forward with its expansion plans. The acquisition is expected to close on or before December 31, 2016".
"On September 9, 2016, the Company, its controlling shareholder, and an outside investor group executed a letter of intent granting the investor group the option to
purchase 100% of the Company’s Series A Preferred Stock, which represents a controlling interest in the Company. The agreement between the parties requires
that the investors provide the Company sufficient capital to move forward with its expansion plans. The acquisition is expected to close on or before December 31, 2016".
(5)
(0)
