ITEM 7.01 Regulation FD Disclosure
As stated above, on January 1, 2006, the Company entered into a Share and Membership Interest Purchase Agreement (the “Acquisition Agreement”) with Semco Distribution, Inc., a Nevada corporation (“Semco”), Ultimate Surface, LLC, a Nevada limited liability company (“USL”), and Samel Sem and Yamine Sem (both of the latter, as the “Semco Owners”).
Except for the then current balance of Semco’s cash, accounts receivable, accounts payable, and accrued liabilities), the Company acquired all of the outstanding common stock of Semco and all of the outstanding membership interests of USL at a purchase price (including the performance payment) of $2,750,000 (the “Purchase Price”).
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Message 22966698 |
