Quad M Solutions Inc (MMMM)

[Eurotradr]

Quad M Solutions Inc. Signs Letter of Intent to assign 800 employees staffing contracts for $5-7 million
12:47 PM ET 11/29/22 | GlobeNewswire

Company believes deal assignment will close by year end

Garland, TX, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Quad M Solutions Inc. (OTCPK:MMMM) has executed a letter of intent to assign 800 employees contracts to a well funded Reinsurance company for the cash value of approximately $5-7 million.

Mr Joseph Frontiere, CEO, said " Recently we were approached by several entities inquiring to purchase staffing contracts for approximately $8,000/contract. We have gone through a thorough due diligence review by a well funded, US Reinsurance company and signed a letter of intent. I expect the deal to close by year end. These contracts are among our earliest employee contracts and have not seen price increases in several years. If we value our remaining contracts at the same price for which we are assigning those contracts, our remaining book of business would be valued at approximately $8 million per thousand employees which we believe will increase going into next year based on price increases. We are also going to receive additional revenue flow from the use of our monitoring technology. We are very excited to be able to monetize our earliest contracts in this deal."