Thursday, April 10, 2014 11:45:03 PM
In early 2014, Exobox announced publicly via a Form 8-K Current Report that it was going to acquire a majority of the equity interests in Cherubim Builders Group, LLC (“CBG”) from PDX Partners, Inc. (“PDX”) (the “Share Exchange”). At its most basic level, under the Case 2:14-cv-00501-JAD-VCF Document 1 Filed 04/03/14 Page 1 of 8 Share Exchange, Exobox would have acquired CBG—a highly profitable construction company—and would also have raised significant and much-needed funds. CBG, in turn, would be able to immediately go public while Exobox reorganized into a new publicly-traded company. At the same time, the shareholders of Exobox would maintain their shares in Exobox’s interests through the new public company and would also be given shares of the emergent, publicly-traded CBG company.
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