On March 9th, 2016: Mr. Steve Berman was appointed Chief executive Officer and Director of the Company. With his appointment, the Company began to aggressively pursue other business opportunities to produce a profitable business model going forward.
On November 4th, 2016: The Company announced its intention to acquire a 49% equity.ownership stake in Family Mobil Safety ("FMS") Marketing, the distributor of a safe driving App. Under terms of the deal, FMS and their global distribution network of the drive safe app will remain fully operational and continue as a standalone brand following the close of the acquisition.. The FMS safe driving app is intended to do a number of things to keep attention on the road while you're driving and not on your smart phone. As soon as the FMS app detects that the vehicles wheels are in motion the App will be programmed to automatically shut down all voice and social media for safe, distraction-free driving.
On December 9th, 2016: The Company announced that it has agreed to a 49% Joint-Venture equity/ownership stake in Digital Media Management & Consulting ("DMCC") a fast-rising digital signage privately-held company headquartered in New York, NY. The DMCC platform supports advanced implementation of electronic sell-through and content advertising supported networks.
On December 12th, 2016" The company entered into a Corporate Advisory Services Agreement with a third-party for a 3 month period commencing that date at a fee rate of $50,000 per month (the total payable commitment being $150,000).
On March 27th, 2017: The Company announced that it had retained John E. Dolkart, Jr. Esq. and the Law offices of John E. Dolkart, Jr., Esq. as securities counsel. Part of Mr. Dolkart's work will handling the re-domicile has occurred the Company intends to reduce its issued and outstanding common shares as well as reducing its authorized share capital. The new Colorado entity will then merge with the current Delaware corporation.
On May 1st, 2017: The Company announced that its Board of Directors had approved the commencement of steps to re-domicile the corporation in Colorado. Colorado is expected to provide an opportunity for a fresh-start in an increasingly utilized jurisdiction for corporate formation and reformation. This action is currently in process. Our new corporate name is expected to be Hexagon Holding Corp. and we have commenced to build a new corporate website to better reflect our rapid growth trajectory.
On September 1st, 2017: The Company announced that it plans to buy out the remaining 51% share of the JV that owns the FMS Safe Driving App. The acquisition price is expected to amount to $3.5 million, payable in 6 installments over a 6 month period from deal closing. This is expected to be financed by financing receivables and is not expected to be dilute to the Company. Our 51% partner also owns a vehicle fleet business, which will be included in the purchase and which will add another sector to our holdings. This is an established business in itself.
