MITD - .066 x .09 Up big on today's 8K
Item 1.01 Entry into a Material Definitive Agreement
On December 22, 2010, MIT Holding Inc. (“MIT” or the “Company”) executed a Letter of Intent (attached hereto as Exhibit 10.18) to acquire one hundred Percent (100%) of the two companies, National Direct Home Pharmacy, Inc and Palmetto Long Term Pharmacy, LLC in South Carolina. Per the letter of intent, the Company will acquire a fully operating home delivery/mail order pharmacy with licenses and government awards, private nursing home contracts and a large individual customer base in exchange for ten dollars ($10.00) in cash and one million (1,000,000) shares of the Company’s common stock (the “Shares”). The Shares will be held in an escrow account until such time as certain liabilities have been paid in full.
