Reverse Mergers

[No1Uknow]

MCGI DD notes

Acquisition


On June 18, 2018, the Company entered into a Binding Letter of Intent (“Binding LOI”), with The 4 Less Corp. (“4Less”). The Company will acquire all of the issued and outstanding shares of common stock of 4Less. The Company shall issue (1) 19,000 shares of Series B preferred stock (2) 6,750 shares of Series C preferred stock (3) 750 shares of Series D preferred stock to shareholders and pay $150,000 to 4Less within 15 days of execution of this Binding LOI. Timothy Armes, CEO of the Company, agreed to return 60,000,000 shares of common stock of the Company in exchange 120 shares of Series D preferred stock at the time of execution of the definitive agreement.

https://www.cnbc.com/2018/06/18/globe-newswire-medcareers-group-inc-signs-binding-agreement-with-the-4-less-corp.html

4Less operates in the $43 billion specialty aftermarket auto parts industry and has quickly grown into one of the largest on-line sellers of Jeep, Truck and SUV suspension systems and related accessories targeting direct to consumer and installation shops here in the US and ships worldwide.

4Less established www.LiftKits4Less.com approximately 3 years ago. In 2015, their first year of operations, Liftkits had revenues of $2.4M which they grew by 280% to $6.8M in 2017 and was close to break even. For 2018 they are on track to surpass revenues of 9 million dollars.

Summary notes:
There is some toxic debt, preferred shares and financial quagmire but if they can get over that and keep the share structure within reason it should be a flyer..


Currently .00129 with
Outstanding Shares 571,577,017 07/31/2016
Float 347,979,442 06/30/2016