Bravatek Solutions, Inc. completed the acquisition of HelpComm, Inc. from Johnny Bolton.
January 11, 2018
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Bravatek Solutions, Inc. (OTCPK:BVTK) entered into a letter of intent to acquire HelpComm, Inc. from Johnny Bolton for $2.5 million on September 20, 2017. Bravatek Solutions, Inc. (OTCPK:BVTK) entered into a stock purchase agreement to acquire HelpComm, Inc. from Johnny Bolton on October 25, 2017. As part of consideration, Bravatek Solutions will pay $0.03 million in cash and issue 0.1 million shares in Series D Convertible Preferred Stock, with such series of convertible stock to be designated prior to closing of the acquisition. Helpcomm shall become a wholly owned subsidiary of Bravatek Solutions. Bravatek Solutions will enter into employment agreements with two of the Principals of Helpcomm, being Johnny Bolton and Johnathan Bolton, requiring Bravatek Solutions to compensate the principals with base salaries of $0.17 million and $0.15 million per year, with a performance bonus payable quarterly based on realized sales and actual expenses as compared to mutually agreed sales targets and budgeted expenses. The transaction is subject to a number of conditions including, subject to due diligence of the parties, third-party consents, the designation of the Series D Convertible Preferred Stock, negotiation and execution of a definitive purchase agreement, new employment agreements with employees of HelpComm being executed, payment of liabilities of the Johnny Bolton associated with HelpComm prior to closing, Bravatek Solutions completing its review of HelpComm’s books and records and concluding its assessment of HelpComm’s auditability and other customary closing conditions. The transaction is expected to close in November 2017.
Bravatek Solutions, Inc. (OTCPK:BVTK) completed the acquisition of HelpComm, Inc. from Johnny Bolton on January 12, 2018. The team at HelpComm will join Bravatek.
Bravatek Solutions, Inc. is a security-platform company, which offers software, tools and services to worldwide markets. The Company provides security, defense and information security solutions, which assist corporate entities, governments and individuals in protecting their organizations and/or critical infrastructures against error, as well as physical and cyber-attack. The Company is engaged in marketing and distribution of security capabilities derived from market alliances that yield defense and information security software, hardware and services, and telecom services. The Companyâs products include software, hardware and services, and span a range of industries, including e-mail security, user authentication, robotics, telecommunications and cyber breach protection. Its business operations are focused on selling ECRYPTONE while also expanding its Market Alliance Program (MAP), enabling complimentary products and services to set their suite of cyber security solutions.