Xumanii International Holdings Corp acquired RMT Leasing Inc. for $3.1 million.
ACLH LLC assigned the agreement to Xumanii International Holdings Corp (OTCPK:XUII) on July 21, 2014. Xumanii International acquired RMT Leasing Inc. for $3.1 million on July 21, 2014. Xumanii satisfied the consideration through a combination of cash, a note and preferred stock. The issue of the consideration preferred stock will be non-diluting as the preferred stock will not be convertible to common stock and will also be non-voting. For the year ending April 30, 2014, RMT Leasing Inc. generated revenues of $1.28 million, gross profit of $0.67 million, operating income of $0.14 million, net income of $0.14 million, total assets of $0.27 million and shareholder's equity of $0.13 million. The deal is not subject to any further action and is effective immediately.
Stinar Zendejas Hansen & Gaithe, LLC acted as legal adviser in the transaction.
Xumanii International Holdings Corp (OTCPK:XUII) completed the acquisition of RMT Leasing Inc. on July 21, 2014.