Some good information here on $UYMG acquisition
Post# of 25301
Some good information here on $UYMG acquisition in 2010
http://www.mcc-online.com/
On October 21, 2010, the Company entered into a Plan of Exchange agreement (the “POE”) between and among the Company, Metropolitan Computing Corp., a New Jersey Corporation (“MCC”), the shareholders of MCC (“MCC Shareholders”), and Dutchess Private Equities Fund Ltd., a Cayman Islands Exempt Company (“Dutchess”).
Pursuant to the terms of the POE, the Company desires to acquire MCC and MCC Shareholders desire that MCC be acquired by the Company in the manner described herein.
The Company will acquire 100% of the capital stock of MCC from Dutchess in exchange for total consideration of $1,600,000 (the “Exchange Price”).The Exchange Price shall be paid as follows:
The Company shall issue the Company’s Preferred Stock in the amount of $1,600,000 to Dutchess at the equivalent value on a fully converted basis according to the conversion right designated by the Certificate of Amendment to the Articles of Incorporation of the Company. The Preferred Stock is payable at Closing and is convertible into Common Stock anytime after issuance at a price equal to 95% of the closing bid price of UYMG Common Stock on the day prior to conversion.