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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Relm Holdings Inc (CE) | USOTC:RELM | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
This acquisition will give RELM access to cash flows and expanded business opportunities in the information technology industry. In 2008, on a pro-forma basis, AVI has over $9 million in assets as a consolidated company and generated $2.5 million in revenue with $319,680 in EBITDA. 100% of AVI is expected to be valued at $3,196,800.
AVI was organized in 2008 to acquire Versalign Inc., which was founded in 1985 and currently provides targeted Information Technology solutions for corporate, professional and governmental clients in the Mid-Atlantic region. The proprietary BCLOC model was used to structure the acquisition of Versalign.
This acquisition increases RELM's employee base to over 25 employees and it expects to bring continued growth because in the beginning of the second quarter of 2009, Access Versalign has secured more than $300,000 in incremental business and expects to maintain a positive profit margin throughout 2009.
Randall Burton, RELM's President, says, "The Access Versalign share exchange brings more value to the RELM shareholders and creates greater opportunities for RELM and its clients through the implementation of technology. I am extremely excited about integrating the talented Access Versalign engineers and management team into RELM."
Marc Greenberg, Versalign's CEO, adds, "The consolidation under RELM will yield greater opportunities for Versalign's core IT service business and provide structured IT support for RELM as the company grows. I am very excited to further develop, implement and support RELM's innovative financial services products as they are reintroduced to the market."
RELM and AVI expect to complete the share exchange by the end of the second quarter 2009.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the Company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, which include the ability of the company to implement its business plans and complete certain acquisitions, actual results may differ materially from the expectations expressed in the forward-looking statements.
Contact: RELM Holdings Inc. info@relmholdingsinc.com 302-225-8163
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