Good morning $$ HPTG $$ Just some food for thought:
Item 1.01. Entry into a Material Definitive Agreement.
Stock Purchase Agreement
On November 23, 2015, Hydrophi Technologies Group, Inc., a Florida corporation (the “Company”, “we,” “us,” or “our”) entered into a Stock Purchase Agreement (the “Purchase Agreement”), whereby the Company purchased, all of the outstanding stock of each of Pro Star Freight Systems Inc. and Pro Star Truck Center Inc. (collectively, “Pro Star”). The Pro Star Purchase Agreement is an attempt to preserve and enhance shareholder value in light of ongoing challenges in the execution of the Company’s business mission to bring hydrogen on demand technology to older, mechanical injection vehicles. Pro Star had unaudited management reported 2014 revenue of $27.3 million with net income of $660,000.
The way I read the above information is that this is pretty much a done deal, unlike what I had initially thought was a LOI to get this merger done. Huge difference IMO.
Yes Pro Star financials were unaudited and could possibly be less than what we see in the statement above, but even so, even if they were above 20M that is still great revenue IMO.
The more I think about this merger the more I realized those invested here could be in for an awesome ride moving forward.
$$$ HPTG $$$
