ACHI is breaking out!!! .034 HOD
Posted by KP on :
I took a dive in. weekly is just getting started.
Posted by KP on :
As biometrics make their advancements as they are today, companies like this will take off. IMO
Posted by mrinos on :
well, KP, we'll see what this has. Dip time
Posted by mrinos on :
achi holding strong today!!
Posted by EverGreen on :
hope will move back to .07 (may 07)
ITEM 2.01 - ACQUISITION OR DISPOSITION OF ASSETS.
On February 15, 2007, pursuant to the terms and condition of the letter of intent signed on December 7, 2004, AmeriChip International, Inc. (the “Company”) completed the purchase of all the issued and outstanding common stock of KSI Machine and Engineering, Inc. (“KSI”) of Clinton Township, Michigan.
KSI is a well-established Tier One Supplier and is a leader in machining large industrial castings and molds for the automotive and aerospace industries utilizing state of the art CNC machinery that has management believes has revolutionized die machining. The automotive die and mold castings which use horizontal spindle 5 axis computer numerical controlled machines.
The material terms of the agreement are as follows: The stock purchase was for an aggregate consideration of $3.2 million. During the year ended November 30, 2004, the Company paid a deposit of $50,000 for this agreement. On December 7, 2004, the Company paid an additional $100,000. On October 6, 2005, the Company paid an additional $30,000 for this agreement. On November 7, 2005, the Company paid an additional $20,000 for this agreement.
The Company has re-financed the equipment owned by KSI through People’s State Bank in the amount $1,600,000 and the Small Business Administration (“SBA”) in the amount of $1,280,000 for an aggregate $2,880,00. Marc Walther has assumed the role of President of KSI.
Posted by a surfer on :