WDAS Acquires HNVB to Launch SPACE Computer
Nov 04, 2014
OTC Disclosure & News Service
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World Assurance Group, Inc. (www.worldassurancegroup.com) (OTC Pink:WDAS) today announces that it has acquired Halton Universal Brands (OTCQB:HNVB).
WDAS has acquired 7,095,000 common shares in HNVB for $378,000 in cash funded from existing WDAS resources.
WDAS has also granted HNVB a $2M Space Computer license in return for an additional 8,000,000 common shares in HNVB and a $100 per unit royalty fee every time a unit is sold. WDAS owns 15,095,000 shares of HNVB’s Common Stock, or approximately 99% of all of the outstanding shares of HNVB's Common Stock. HNVB will soon be renamed to more appropriately reflect its Space Computer business.
HNVB will immediately exploit its license to build radical wearable technology solutions that will deliver a new reality in infotainment experience. For further details, please see WDAS’s Supplemental Report filed through the OTC Markets Disclosure and News Service accessible at http://www.otcmarkets.com/stock/WDAS/filings and HNVB’s SEC Form 8-K filed today with the Securities and Exchange Commission.
Mr Fabio Galdi, Chief Executive Officer of WDAS says, “This acquisition allows us to fully leverage our technology by building a standalone business in wearable technology that addresses an exploding global market.
“Our truly revolutionary, innovative and unique SPACE Computer will be available for customer testing in Dubai on the 5th December. This brings our SPACE Computer concept to reality as it will be possible for customers to place pre-orders for SPACE Computer at the event.”
About World Assurance Group
World Assurance Group, Inc. (WDAS) is a holding company operating through three wholly owned subsidiaries. WOR(l)D Global Group Inc., based in Miami, Florida is the group’s research center. World Global Assets is an intellectual property licensing company based in Singapore. CellAd (www.cellad.com), based in Dublin, Ireland, operates in the global mobile advertising industry and has developed a revolutionary new cloud based advertising platform and AdKoin app that delivers full screen advertisements every time a subscriber receives an inbound call or text message in return for a reward.
This press release contains forward-looking statements. Words such as “expects”, “intends”, “believes” and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release
Nov 04, 2014
OTC Disclosure & News Service
-
World Assurance Group, Inc. (www.worldassurancegroup.com) (OTC Pink:WDAS) today announces that it has acquired Halton Universal Brands (OTCQB:HNVB).
WDAS has acquired 7,095,000 common shares in HNVB for $378,000 in cash funded from existing WDAS resources.
WDAS has also granted HNVB a $2M Space Computer license in return for an additional 8,000,000 common shares in HNVB and a $100 per unit royalty fee every time a unit is sold. WDAS owns 15,095,000 shares of HNVB’s Common Stock, or approximately 99% of all of the outstanding shares of HNVB's Common Stock. HNVB will soon be renamed to more appropriately reflect its Space Computer business.
HNVB will immediately exploit its license to build radical wearable technology solutions that will deliver a new reality in infotainment experience. For further details, please see WDAS’s Supplemental Report filed through the OTC Markets Disclosure and News Service accessible at http://www.otcmarkets.com/stock/WDAS/filings and HNVB’s SEC Form 8-K filed today with the Securities and Exchange Commission.
Mr Fabio Galdi, Chief Executive Officer of WDAS says, “This acquisition allows us to fully leverage our technology by building a standalone business in wearable technology that addresses an exploding global market.
“Our truly revolutionary, innovative and unique SPACE Computer will be available for customer testing in Dubai on the 5th December. This brings our SPACE Computer concept to reality as it will be possible for customers to place pre-orders for SPACE Computer at the event.”
About World Assurance Group
World Assurance Group, Inc. (WDAS) is a holding company operating through three wholly owned subsidiaries. WOR(l)D Global Group Inc., based in Miami, Florida is the group’s research center. World Global Assets is an intellectual property licensing company based in Singapore. CellAd (www.cellad.com), based in Dublin, Ireland, operates in the global mobile advertising industry and has developed a revolutionary new cloud based advertising platform and AdKoin app that delivers full screen advertisements every time a subscriber receives an inbound call or text message in return for a reward.
This press release contains forward-looking statements. Words such as “expects”, “intends”, “believes” and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release
