Angel Acquisition Corp (fka AGEL)

[beaunos]

I still like what i see Imho there is a reason for Vince Molinari and his companys are in for 150k in cash and 600k in gates units.
what that reason is open for speculation.



On January 1, 2011, Angel Acquisition Corp. (the “Registrant”) entered into a Series A Preferred Stock Purchase Agreement (the “Agreement”) with Ginew Holdings, LLC (“Purchaser”), pursuant to which the Purchaser purchased from the Registrant five million six hundred forty one thousand five hundred ninety one (5,641,591) shares of Series A Preferred Stock. The purchase price for the shares acquired was sixty thousand dollars ($60,000). The Registrant believes the issuance of the shares is exempt from the registration and prospectus delivery requirement of the Securities Act of 1933 by virtue of Section 4(2). The Agreement is filed as Exhibit 10.2 hereto.



Read more: http://www.faqs.org/sec-filings/110112/ANGEL-ACQUISITION-CORP_8-K/#ixzz1IeQWe84y

On March 23, 2011, the Board of Directors and majority stockholders of Angel Acquisition, Inc., a Nevada Corporation (the “Registrant”), approved the entry into a Partial Purchase Agreement (the “Agreement”). Under the terms of the Agreement, Gate Technologies, LLC acquired sixty percent (60%) ownership of the Registrant’s operating division, Angels In Action for total cash consideration of ninety thousand dollars ($90,000) and six hundred thousand dollars in the form of Gate Technologies, LLC Units contributed by Vince Molinari and Lori Livingston. Vince Molinari, Chairman of the Board of Directors of the Registrant, is also the Founder and Chief Executive Officer of Gate Technologies, LLC and Lori Livingston, a member of the Board of Directors of the Registrant, is also the Founder of Gate Technologies, LLC.

http://google.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7828161-1002-5250&type=sect&TabIndex=2&companyid=82807&ppu=%252fdefault.aspx%253fcompanyid%253d82807%2526amp%253bformtypeId%253d135