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Replies to post #2959469 on BB's Stock Haven
We are an emerging growth company as defined in the Jumpstart Our Business Startups Act of 2012, or JOBS Act. We will remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the first registered sale of common equity securities, (b) in which we have total annual gross revenue of at least $1.0 billion, or (c) in which we are deemed to be a large accelerated filer, which means the market value of our common stock that is held by non-affiliates exceeds $700 million as of the prior June 30th, or (2) the date on which we have issued more than $1.0 billion in non-convertible debt securities during the prior three-year period.
On September 5, 2012, MDT entered into an Asset Purchase Agreement (“Agreement”) with Beacon Enterprise Solutions Group, Inc. (“Beacon”), a Nevada Company. The Company acquired all the assigned contracts, accounts receivable, all work-in-process and assumed certain liabilities of Beacon as associated with the assigned contracts. The purchase price of the purchased assets and assumed liabilities comprises earn-out payments not to exceed in total $3,500,000. Earn-out payments are due over a three period ended August 31, 2015 calculated as 15% of adjusted EBITDA. Adjusted EBITDA is determined as net income before interest, income taxes, depreciation and amortization determined in accordance with GAAP adjusted to include all direct costs and an overhead allocation of 8% of revenue.
03/31/13 4:15 AM
