IM LE - 1.14 x 1.18
Item 2.01 Completion of Acquisition or Disposition of Assets
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BACKGROUND AND ACQUISITION OF TRANSBIOTEC, INC.
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The Company was formed in August 2007 to publish and distribute Image Magazine. Image Magazine was a monthly guide and entertainment source for the Denver, Colorado area. The Company generated only limited revenue and abandoned its business plan in January 2009.
On September 19, 2011 the Company acquired approximately 52% of the outstanding shares of TransBiotec, Inc., ("TBT") from TBT's directors, in exchange for 12,416,462 shares of the Company's common stock. TBT is a California Corporation. Prior to the acquisition the Company had 1,500,000 outstanding shares of common stock.
The Company plans to acquire the remaining outstanding shares of TBT at a later date in consideration for the issuance of 11,141,348 shares of the Company's common stock to the remaining TBT shareholders.
As a result of the acquisition, TBT's business is that of the Company, and, unless otherwise indicated, any references to the Company include the business and operations of TBT.
BUSINESS OF TRANSBIOTEC
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TBT has developed and patented a preventative drunk driving system, named "SOBR" which is comprised of a blood alcohol detection system and ignition interlock device. The Company believes SOBR offers a unique solution to the national drunk driving problem.
$1.1400 1,000 OBB 09:34:05
$1.1200 1,100 OBB 09/21
$1.1200 1,000 OBB 09/21
$1.1100 2,500 OBB 09/21
$1.1000 2,500 OBB 09/21
$1.0600 100 OBB 09/19
$1.0600 1,000 OBB 09/19
$1.0700 1,000 OBB 09/19
$1.0600 1,500 OBB 09/16
$1.0900 600 OBB 09/16
$1.0900 100 OBB 09/16
$1.0900 400 OBB 09/16
$1.0900 500 OBB 09/15
$1.0400 1,000 OBB 09/14
$1.0400 100 OBB 09/14
$1.0400 3,900 OBB 09/14
$1.0400 1,000 OBB 09/14
$1.0100 5,000 OBB 09/06
$1.0100 1,000 OBB 09/06
$1.0000 1,000 OBB 09/02
$1.0100 500 OBB 09/01
$1.0200 500 OBB 09/01
$1.0200 500 OBB 09/01
$1.0500 500 OBB 09/01
$1.0700 500 OBB 09/01
$1.0800 1,000 OBB 09/01
$1.0900 500 OBB 08/31
$1.0500 1,000 OBB 08/31
$1.0500 500 OBB 08/31
$1.0500 500 OBB 08/31
