TX Holdings Inc. (OTCPK:TXHG) acquired “The Bag Rack,” LLC from Shrewsbury and Rickie Hagen for $500 on November 21, 2014. Under the terms, TX Holdings also agreed to pay an earn out including royalties to the developer of the product "The Bag Rack" which will leave TX Holdings with a net profit in excess of 40%. The deal was approved by the independent directors of TX Holdings.

TX Holdings Inc. (OTCPK:TXHG) completed the acquisition of “The Bag Rack,” LLC from Shrewsbury and Rickie Hagen on November 21, 2014.