I'm not sure if anyone has seen this or not. I haven't been reading everything on the board for lack of interest, but I have seen people asking whether or not Calypso owns RV Tech.
Effective July 22, 2005, the Company entered into an agreement to acquire a 25% interest in RV Technology Limited (RV Tech), a limited company incorporated under the laws of Hong Kong. The Company immediately acquired 16.8% of RV Tech by paying $1,000,000 in cash ($666,666 in working capital to RV Tech and $333,334 to the shareholders of RV Tech) and issuing 1,000,000 shares of the Company's restricted common stock. The Company issued a note in the amount of $1,333,334 to acquire an additional 5.6% interest in RV Tech; however, the Company will not receive the additional shares of RV Tech until the note is paid by the Company. In addition, the Agreement provides for the Company to acquire an additional 2.6% of RV Tech by paying $666,667 in cash when RV Tech meets certain milestones such as RV Tech achieving CE and FCC certification of the first functioning Dual Mode (GSM/GPRS and WiFi) model cellular telephone. The agreement also gives the Company exclusive rights to acquire the remaining 75% of RV Tech by issuing 6,000,000 shares of the Company's restricted common stock and paying $3,000,000 in cash to the shareholders of RV Tech. The option to acquire the remaining 75% of RV Tech expires in 9 months from the closing date of the original transaction.
AI
