ACLP as per last PR! Cited: http://ih.advfn.com
Post# of 1241
Posted On: 04/16/2014 10:26:39 AM
ACLP as per last PR!
Cited: http://ih.advfn.com/p.php?pid=nmona&article=61833692
Cited: http://ih.advfn.com/p.php?pid=nmona&article=61833692
Quote:
AccelPath and EIP have entered into an Agreement and Plan of Reorganization dated as of October 24, 2013, which will result in EIP becoming a wholly-owned subsidiary of AccelPath. It is expected that the equity holders of EIP will become the holders of approximately 76% of the total outstanding capital stock, on a fully diluted basis, upon completion of the transaction. EIP has previously acquired shares of preferred stock of AccelPath representing approximately 14% of AccelPath and conversely, AccelPath has acquired shares of Common Stock of EIP representing 19% of the issued and outstanding Common Stock of EIP. For accounting and financial reporting purposes under Securities and Exchange Commission rules, the transaction is expected to be treated as a reverse merger. Management of EIP will become management of AccelPath upon completion of the transaction. A majority of the Board of Directors of the post-merger company will be represented by persons associated with EIP.
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