AVIX LOI with ACTUS Expired

AVIX Technologies, Inc. (the “Company” or “AVIX”) (Pink Sheets: AVIX) announced today that the Letter of Intent (“LOI”) executed on January 20, 2011 between the Company and Actus Interactive Software Inc. (“ACTUS”) expired October 15, 2011.

The LOI outlined the terms whereby AVIX would acquire 100 per cent (100%) of the shares of ACTUS in a definitive asset or stock purchase agreement for the purchase price of $750,000 and One Hundred and Fifty Million (150,000,000) shares of restricted Common Stock of AVIX to ACTUS (or its assignees), of which Ten Million (10,000,000) would be put in escrow for future financing. The AVIX stock was to be issued with a one-year restriction as required by Rule 144 under the Securities Act of 1933. Upon the Closing, ACTUS was to become a wholly owned subsidiary of AVIX.

The execution of the purchase agreement under the proposed terms was to be contingent upon the results of AVIX’S due diligence including but not limited to no material adverse change in the status of the claims and representations by ACTUS and its ability to successfully complete and timely file an auditor’s report on the proposed acquired assets.

During such time the Company’s concern increased over ACTUS’ (incorporated in January 2011) lack of revenue and/or executed contracts, financial statements, assets, licenses, rights, claims, titles, and property, only as it directly related to the proposed purchase price.

Cornelia Volino, President of AVIX stated, “Upon considerable review over an extended period of time, Management concluded that it was in the best interest of its shareholders to not proceed further with the acquisition of ACTUS for the proposed purchase price and consider alternative potential acquisitions.” Ms. Volino further stated, “We would like to wish ACTUS all the best in its future endeavors.”

About AVIX Technologies, Inc. www.avixt.com

AVIX is focused on identifying potential acquisitions and joint venture opportunities in various target markets that offer leading edge technology and services on a global scale.

Safe Harbor

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of AVIX Technologies, Inc. with members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Avix Technologies (CE) (USOTC:AVIX)
과거 데이터 주식 차트
부터 12월(12) 2024 으로 1월(1) 2025