Replies to post #120305 on On4 Communications Inc (ONCI)

[mug2011]

I would say we own 100 percent now and it will be paid off in 5 more months. He wouldn't want to give them 51percent if a big auto deal. Just like buying a house. It's your house when you sign contract not when you get the mortgage paid off. Suppose if he wouldn't pay they would get the 51 percent back. IMO.

[Breezerunner]

I don't believe you're correct. CEO indicated terms were financed with AR as collateral base. The lender holds collateral assets, but the transaction is done IMO.

From Bloomberg:

Cogosense Technology Inc. designs and develops telematics solutions and provides GPS fleet management systems. The company’s products include bSafeMobile and FleetSafer, service solutions that detects the driving state and automatically puts the device in safe mode while driving. It was formerly Aegis Mobility, Inc. Cogosense Technology Inc. was founded in 2006 and is based in Burnaby, Canada. As of September 8, 2017, Cogosense Technology Inc. operates as a subsidiary of On4 Communications, Inc.

They note:

Recent Private Companies Transactions
Type: Target
Merger/Acquisition
Date: September 8, 2017