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Sunday, April 16, 2017 1:17:41 PM
Bravatek signed an LOI and JV with a construction company called YKTG, LLC to start a $10 million plus decommissioning project with a major cell phone carrier.
Here is the press release: http://finance.yahoo.com/news/bravatek-line-10m-major-carrier-234936680.html
This is from their most recent 8-K:
Item 8.01 Other Events.
On August 1, 2016, the Company entered into a consulting agreement with YKTG, LLC ("YKTG"), pursuant to which YKTG would, in consideration of the issuance of 10,000,000 shares of Company common stock, assist in the selection and management of subcontractors for new and forthcoming POs from major telecom carries (Verizon, Sprint, AT&T, etc.), offer PMO skills, systems, tools, and advice to the Company and the Company's strategic alliance partners, provide sales personnel and management to assist the Company with obtaining additional telecom purchase orders, provide sales leads for government telecom applications, assist the Company to drive sales for its existing "IDIQ" contracts, and assist the Company in updating its five-year strategic business plan.
On August 8, 2016, the Company entered into a new Master Subcontract Agreement and $8,400,000 purchase order with YKTG clarifying the terms of the Company's previous agreement and purchase orders with YKTG for decommissioning tower services for a major telecom carrier, the identity of which the Company was unable to disclose pursuant to the prior agreements.
On August 11, 2016, the Company received a $438,000 purchase order from JWH Telecommunications Inc. relating to radio-swap tower services in Ohio.
On August 11, 2016, the Company received a $2,109,942 purchase order from JWH Telecommunications Inc. relating to LTE tower services.
The foregoing descriptions of the agreements and purchase orders and the terms thereof are qualified in their entirety by the full text of such agreements, which are filed as Exhibits 99.1, 99.2, 99.3, and 99.4 to, and incorporated by reference in, this report.
After doing some digging around I find that YKTG entered into a JV with ADDvantage Technologies (Nasdaq:AEY) for a deconstruction and decommissioning project with a major wireless cell phone company involving cell towers across 13 states.
Here's the article:
https://globenewswire.com/news-release/2016/03/10/818663/0/en/ADDvantage-Technologies-Announces-Strategic-Joint-Venture-to-Provide-Deconstruction-Work-on-Cell-Towers-in-13-States.html
Here's the 8k from ADDvantage Technologies:
https://www.sec.gov/Archives/edgar/data/874292/000144526016000070/yktg03102016_8-k.htm
So in conclusion, it looks as though this contract is very real and has been ongoing, and from what was said in the PR's, it should generate more revenues going into the future.
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