Extreme Mobile Coatings Worldwide Corp. Acquires Assets of Reflectkote, Inc.
NICHOLASVILLE, Ky., March 15, 2010 /PRNewswire via COMTEX/ -- Extreme Mobile Coatings Worldwide Corp. (OTC Bulletin Board: EMWW) announces that on March 11, 2010, the "Company" entered into a Asset Purchase Agreement with Reflectkote, Inc., dated March 10, 2010, wherein Reflectkote, Inc., sold certain assets and liabilities to the Company, as well as the obligation to issue 50,000,000 shares of common stock of the Company to the shareholders of Reflectkote, Inc. as a stock dividend, after the effectiveness of a Registration Statement on Form S-4. Reflectkote, Inc., has set a record date of March 31, 2010 for the stock dividend.
The assets acquired, which are going to be operated as a separate wholly-owned subsidiary, are a permanently applied reflective coating that does not come off in the manner that reflective tape can and does. Reflectkote coatings do not corrode and protect the surface applied to as well. Reflectkote is a plastic and glass combination prepared in a proprietary manner. The application can be done on site with various equipment manufactured by various vendors.
Charlie Woodward, Extreme Mobile Coatings President and CEO states, "With the acquisition of the Reflectkote coatings, we have added another line of quality of coatings to our line-up. The Reflectkote coating is an exciting opportunity to expand our business model into new areas. The coating can be applied with our existing spray guns, or any currently available spray gun on the market."
About Extreme Mobile Coatings:
Through its wholly owned subsidiary, Extreme Mobile Coatings, Inc., based in Nicholasville, Kentucky, Extreme offers franchise opportunities to operate a mobile business which provides painting or coating on various surfaces utilizing a special patented mobile system developed by Xiom Corp. (OTC Bulletin Board: XMCP) and licensed to Extreme. In addition, Extreme operates a mobile coating business in and around Nicholasville, Kentucky.
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Outstanding Shares 69,601,384 as of Mar 31, 2009
Authorized Shares 100,000,000 as of Mar 31, 2009
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