Service Team Inc (SVTE)

[ChuckBits]

Coming up on 9 MONTHS since the acquisition of MCV was announced.

VILLA PARK, CA / ACCESSWIRE / May 23, 2016 / Robert L. Cashman, President of Service Team Inc. (OTC: SVTE), announced today that Service Team Inc. has entered into an Agreement to acquire MCV Companies, Inc. It is expected that the necessary steps to complete the acquisition will be finished in the next 30 days.
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Service Team Inc. located at 1818 Rosslynn Avenue, Fullerton, California, will provide additional information on the acquisition of MCV Companies, Inc. when it is completed in June of 2016.


Obviously Cashman doesn't have the competence to complete the deal. Markets hate uncertainty. Has anyone thought about the impact if they just called it off? Here's a PR I'd like to see:

NEWSWIRE TODAY: Service Team Inc. has announced today the acquisition of MCV Companies has been terminated. Management of both companies failed to agree to certain terms of the acquisition and also agreed to no penalties related to the failed completion.

Service Team has already used the $60,000 previously set aside for the acquisition to retire all debt. Management also stated full focus has returned to running the successful and profitable trucking business and will work toward expanding market share in the area they already have their sh!t together in.