Hollund Industrial Marine Inc. (HIMR)

[edfei2000]

Well AQCI is selling there shares?




On January 20, 2008 the Company sold all rights, title and interest in the TigeroLynk technology to Hollund Industrial Robotics Systems Inc (HIRS). As original condition of purchase of the TigeroLynk technology the Company had made certain profit share and royalty commitments, as well as a 5% common stock commitment to Gary Ackles, founder of TigeroLynk. As condition of the sale to Hollund the Company is relinquished of all these prior commitments. The Purchase and Sale agreement contained two (2) components to the compensation paid to the Company; 1) Hollund will pay the Company $50,000 cash payment and 3,076,923 shares of Hollund Industrial Inc. common stock and 2) Mr. Lonnie Hayward, a principle of HIRS, relinquished to the Company all common and/or preferred stock held by him at the time of the transaction. On January 29, 2008, the Company received a payment of $14,000, leaving $36,000 of the cash payment portion, and the 3,076,923 shares as unpaid.