$UMAX acquired Mazuma Transportation pursuant to a

$UMAX acquired Mazuma Transportation pursuant to an equity exchange agreement executed on Friday, January 29, 2021. Pursuant to this Agreement, the Company acquired all outstanding equity of Mazuma Transportation (making it a wholly owned subsidiary) in exchange for 1,000,000 shares of Series B, Preferred Stock of the Company. Mazuma Transportation will have the following twelve (12) vehicles on its balance sheet:

Four (4) 2020 Peterbilt Cement Mixer Truck
One (1) 2010 International Day Cab
One (1) 2017 Freightliner Super 10 Dump Truck
One (1) 2008 Peterbilt Cement Mixer Truck
Two (2) 2009 Kenworth Cement Mixer Truck
One (1) 2010 Cement Powder Trailer
One (1) 1999 Freightliner Box Truck
One (1) 2009 International Box Truck

Mr. Fletcher further stated…"The Mazuma Transportation acquisition is a great transaction for UMAX in that it adds over $1,300,000 to our balance sheet in hard assets with debt of less than $200,000. This acquisition follows our business plan of acquiring operational business that have both significant assets and revenue, are in an industry that we feel has significant opportunities to generate significant profit on an ongoing basis and has cross uses with other operational subsidiaries that UMAX will eventually acquire. In passing, we plan on the possibility of retrofitting several of our older cement mixer trucks to become dump trucks due to the extreme demand for the dump truck type vehicles."

https://www.prnewswire.com/news-releases/umax...18837.html

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