EQM Technologies & Energy, Inc. acquired Vertterre Corp. from Daniel Sandoval for $1.3 million.
December 27, 2012 at 04:00 am
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EQM Technologies & Energy, Inc. (OTCPK:EQTE) acquired Vertterre Corp. from Daniel Sandoval for $1.3 million on December 27, 2012. As per the deal, EQM Technologies paid $0.83 million in cash, issued 1 million shares and an unsecured subordinated note of $0.25 million to Vertterre. Daniel Sandoval may receive the additional earn-out consideration under the agreement on 50% of the net gain realized by us upon the sale of certain landfill gas assets of Vertterre and 50% of the net profits realized from the operation of the gas assets during the first 60 months following the first anniversary of commencement of production. Daniel Sandoval, former President and sole shareholder of Vertterre, will serve as Vice President of EQM and will continue to operate and grow Vertterre.
EQM Technologies & Energy, Inc. (OTCPK:EQTE) completed the acquisition of Vertterre Corp. from Daniel Sandoval on December 27, 2012.
EQM Technologies & Energy, Inc. (EQM) is an environmental engineering consulting and services company. The Company provides environmental consulting, engineering, program management, clean technology, remediation and construction management and technical services. The Companyâs governmental services include environmental regulatory compliance and conservation, site restoration/sediment remediation, environmental remediation services, and environmental construction management. The Companyâs industrial services include stack testing and air quality, environmental compliance outsourcing, water quality management, waste management, remediation and construction, chemical reporting, industrial hygine and safety, and environmental, health, and safety program management. Its industrial serves automotive, food and beverage, industrial manufacturing, paper, pharmaceutical markets, power, steel and institutional facilities.