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MODC: 509% revenue increase, low float, & looking for acquisitions!
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[QUOTE]Originally posted by bobcat88: [QB] Something just doesnt seem right about the purchase price of a multi-billion dollar cancer detection system, $500k for all the assets and the intellectual property rights? I would figure that there would be well over the 500k in assets alone for a cancer reasearch lab. Any insight on this? The current contemplated material terms of the Letter of Intent are as follows: -- 100% of the existing physical assets, intellectual property rights, and current value of Boveran's assets -- Purchase Price: $500,000 paid in Convertible Preferred Stock to Boveran. -- Anticipated Closing Date: October 15, 2006. Pending all legal review, due diligence review, and approval. If such approval occurs after such date, then closing shall take place as soon as possible. -- Purchase Terms: $500,000 Paid to Boveran's stockholders in the form of a Convertible Preferred Stock with conversion terms and schedules to be agreed upon by the Parties within a reasonable time and with reasonable terms concurrently to or subsequent to the execution of the contemplated Definitive Asset Purchase Agreement. -- Formal relationship with Duesberg Cancer Lab: The acquisition of Boveran contemplates the support of Peter Duesberg's cancer research. Insight Medical Group will provide ongoing financial support to Peter Duesberg's lab as reasonably determined by Insight Medical Group and Duesberg. Peter Duesberg's lab agrees to work closely with Insight Medical Group to improve products and technology. [/QB][/QUOTE]
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