This sounds like last year's acquisition target.
ENVIRO-SERV, INC. UNWINDS AIR SYSTEMS ACQUISITION
TAMPA, FL. AUG. 5TH 2013 (EVSV) Enviro-Serv, Inc. announces the unwinding and termination of previously announced Air Systems Group acquisition.
Chris Trina, Chairman and C.E.O stated this about this acquisition termination. " Due to numerous defaultifications within our purchase agreement and a legal covenant within the acquisition agreement which allows termination of this acquisition in the event of material misleading information we hereby announce effective immediately the unwinding and termination of the Air Systems Group acquisition announced last June." Trina added this statement, " To protect our shareholder's and investor's and to avoid reflecting improper financial accounting in our upcoming financial statements for this subsidiary the company has decided it's in the best interest of all parties and our shareholder's to part ways and cancel all stock that was due to be issued and received in this 100% stock acquisition. This decision may not be welcomed news today but shareholder's will ultimately appreciate our findings and the decision to unwind this transaction before it was too late."