Acquisition of XSKN: Announced in February 2013,
Post# of 5115
Posted On: 09/20/2013 3:42:24 PM
Acquisition of XSKN:
Announced in February 2013, the Company entered into an agreement to acquire a 25% equity stake in XSKN, a leading manufacturer and provider of premium quality Japanese silicone skins for Apple iPhones and iPads, Samsung's Galaxy series, Blackberry's Z10 as well as computer keyboards. The acquisition agreement also includes the right for Cyber Kiosk to bring the in-demand, Japanese silicone skins to the un-tapped North American market and sell within certain retail locations.
Cyber Kiosk issued XSKN 5 million shares as a part of the initial steps of the agreement and concluded its requisite due diligence measures on XSKN in April 2013. The Company is currently in the testing phase of product molds and designs, while simultaneously pursuing strategic branding- and licensing-related initiatives that, provided the testing phase has been completed successfully, will play an active role in marketing and sales efforts going forward. According to management, the acquisition of a 25% equity stake in XSKN is expected to be completed in the first quarter of 2014 and will be announced to the public shortly thereafter.
Announced in February 2013, the Company entered into an agreement to acquire a 25% equity stake in XSKN, a leading manufacturer and provider of premium quality Japanese silicone skins for Apple iPhones and iPads, Samsung's Galaxy series, Blackberry's Z10 as well as computer keyboards. The acquisition agreement also includes the right for Cyber Kiosk to bring the in-demand, Japanese silicone skins to the un-tapped North American market and sell within certain retail locations.
Cyber Kiosk issued XSKN 5 million shares as a part of the initial steps of the agreement and concluded its requisite due diligence measures on XSKN in April 2013. The Company is currently in the testing phase of product molds and designs, while simultaneously pursuing strategic branding- and licensing-related initiatives that, provided the testing phase has been completed successfully, will play an active role in marketing and sales efforts going forward. According to management, the acquisition of a 25% equity stake in XSKN is expected to be completed in the first quarter of 2014 and will be announced to the public shortly thereafter.
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