Founders Bay (CE) (USOTC:FDBH)
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From May 2019 to May 2024
Intersecurity Holdings Corporation (OTCPK: IXSV) and SOB
Kft. announced today that they have agreed to extend the contemplated
closing date of their transaction to February 28, 2006. As was
previously announced, Intersecurity signed a letter of intent (LOI)
with SOB Kft. in December of 2005 with the intention of completing the
purchase of an equity position in the company by January 31, 2006.
Mr. Simone, President of Intersecurity Holdings Corp stated, "Due
to the different legal environments between the US and Hungary, we
will require more time in completing this transaction. Our counsel is
working diligently and our due diligence has been positive. I expect,
barring any unforeseeable events, we will complete this transaction in
the next few weeks."
New developments at the company include the addition of Dr. Wilner
to the company's advisory board. Dr. Wilner brings with him a wealth
of knowledge in the field of optical electronics and will assist the
company in conducting due diligence and review of possible technology
investments.
Intersecurity plans to capitalize on SOB's client base,
infrastructure, employees and contacts in Hungary to further strategic
opportunities. Closing of the transaction will be subject to the
completion of Intersecurity's due diligence and execution of a
definitive acquisition agreement.
For additional information please contact Equitable Research (USA)
at +1 (954) 281-8266 or visit www.ixsv.com.
About SOB Kft.:
SOB Kft. is a management company in Hungary which amongst its
businesses supplies facility management and security services to both
large and small international and local corporations with a presence
in Hungary. Amongst its clientele are the large industrial complexes,
among them SPI, JIT, Urban Market Project, Marche Lorinc, Litliner
Kft., M5 Logisztika Kft. and Immo-Laurent Kft.
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similar expressions identify forward-looking statements, whether
because of new information, future events, or otherwise.
Forward-looking statements are inherently subject to risks and
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Future events and actual results could differ materially from those
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government regulation, competition and other material risks.