Strategic Acquisitions
Occupational Testing, Inc.
On October 30, 2007, we acquired all of the outstanding stock of Occupational Testing, Inc. “(Occupational Testing”) in exchange for $120,000 in cash and a note payable for $480,000 due and payable in quarterly installments of $40,000 each plus accrued interest at rate of 1% over New York Prime, with the first installment plus accrued interest due on January 31, 2008.
Occupational Testing, a Gillette, Wyoming based corporation that is now a wholly owned subsidiary of the Company, provides a collection facility, pre-employment physicals, employee screening and other employment related services to companies. Occupational Testing’s revenues for the nine months ended September 30, 2007 were $614,671 and for the fiscal year ended December 31, 2006 were $698,097. The results of Occupational Testing will be included in the Company’s financial statements from the date of acquisition.
10-12g - sec.gov
Occupational Testing Website - occtesting.com
December 11, 2007 - Labwire Completes Its First Acquisition - labwire.com |
