Next Group Holdings Agrees to Acquire Tel3 from Arik Maimon
MIAMI, June 9, 2016 /PRNewswire/ - Next Group Holdings, Inc. (OTCQB: NXGH) announced today that it has signed an agreement with Arik Maimon, who serves as NXGH's CEO and Chairman, under which, subject to the receipt of a fairness opinion from an independent expert on such transactions, NXGH will acquire the telecom marketing brand "Tel3" together with the assets and client database of Tel3 from Mr. Maimon. NXGH's Board of Directors approved the transaction unanimously and expects to close the acquisition of Tel3 by June 20, 2016.
Tel3 is a marketing group that had revenues over $3 million in 2015 with 31.5% gross margin, 25,000 active customers, and a database of 300,000 current and former clients.
Mr. Maimon, who recently acquired Tel3 from a third party, has agreed to sell Tel3 to NXGH on substantially similar terms to the terms of the transaction under which he personally acquired the Tel3 assets, subject to the fairness opinion, a unanimous vote in favor of the transaction by all disinterest members of NXGH's board, and other regulatory considerations.
Tel3's prior owner was Tellza Communications, Inc. Tellza's Director, Chief Technology Officer and Chairman of the Compensation Committee is Mr. Ali Guven Kivilcim. Mr Kivilcim is also a large shareholder of NGH with 9.448% of the common shares outstanding.
The owner of the Trademark for Tel3.com is listed as Netel, Inc., a company owned by another shareholder of NGH, Mr. Huseyin Kizanlikli (28% of outstanding NXGH shares).
Netel, Inc, and Tellza Communications, Inc. share a common address in Hallandale Florida.
Here is a review about Tel3: 12/15/2015 2:37:38 PM:
Tel3 has been a nightmare for me. I set up an account for a family member, specifying no automatic recharge, but they recharge by interrupting the call when the credit is low, asking if the caller wants to continue. Nowhere on their website do they tell you this. So the credit card owner has no control over the use of the credit card. They get authorization from the third party. I had thousands of dollars of calls, all of a sudden, charged to my credit card. I called Tel3 repeatedly to cancel my account, and I tried to do this online, but they blocked my account so I couldn't close it. When I asked my credit card to cancel their charges, Tel3 sent a letter so full of lies, saying that I never asked to cancel the account, and that they had offered me all sorts of ways to block the recharge on the phone, claiming that I refused to accept the very thing that I had requested. They convinced my credit card company, Capital One, to reject my claim. Absolutely dishonest. This is a company that could offer a good service, but they are fraudulent.
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