Bowmo Inc (BOMO)

[ztraderx]

We don't even know what the agreement was. We literally know nothing. The original press release stated UHLN signed an "agreement". Until we have seen the agreement, there's literally nothing you can say which is true. You're just blindly speculating.

I will say that in M&A's there are usually termination clauses that allows one party to step away from the deal if the other party has not met certain conditions within the agreement. My guess is when the owner of CG found out about his wife and Everett Dickson, he immediately went to his lawyers and found a way to break up the deal. UHLN has a horrible business track record in the past, and they most likely effed up, in addition to the adultery committed by UHLN management.

The failure to satisfy a closing condition gives the other party a right to refuse to close the acquisition but does not make the failing party liable to the other party, unless such failure is the result of, or the cause of, a separate breach of the acquisition agreement. In addition, because of the period of time between signing and closing, events may occur that may result in a party’s desire to terminate the acquisition agreement prior to closing. Accordingly, the parties often negotiate provisions granting the right to terminate the acquisition agreement upon mutual agreement or upon the occurrence of certain specified events. This article summarizes the principal closing conditions and termination rights that parties seek to include in an acquisition agreement.