SirenGPS Agrees to Make HDSI License Exclusive
ST. LOUIS, MO -- May 6, 2015 -- InvestorsHub NewsWire --
HDS International Corp. (OTC:
HDSI), a technology development company, today announced that
it executed a Memorandum of Understanding with SirenGPS to acquire
the intellectual property previously licensed to HDSI by SirenGPS.
Recently funded to bring technology licensed from SirenGPS to
market, HDSI began selling SirenGPS emergency management, enhanced
emergency calling and communication software in Missouri this
Friday, May 1, 2015. On May 5, 2015 the parties executed a
memorandum of understanding that establishes the terms for HDSI’s
acquisition of SirenGPS assets to be completed through an asset
purchase agreement. As part of that negotiation, SirenGPS agreed to
make the license that HDSI currently holds to develop and market
SirenGPS emergency management technology exclusive effective May 1,
2015, until July 20, 2015 subject to a right of reversion should
the asset purchase not be completed.
The substantive terms of the deal establish that HDSI will
acquire SirenGPS assets for preferred stock and notes. The
acquisition will price the assets at a $6.5M valuation to be paid
in HDSI preferred shares and seller notes. The assets and purchase
price will be reviewed by a mutually agreed upon third party. The
parties have agreed to close the transaction on or before July 20,
2015. In order to prepare to execute the transaction, HDSI has
agreed to file a 14C that will reorganize its share structure,
change the name of the company, and file with FINRA for a new CUSIP
and ticker.
SirenGPS CEO Paul Rauner explains: “HDSI will take the steps
necessary to acquire SirenGPS assets by organizing its share
structure and aligning the Company with SirenGPS marketing and
distribution efforts. The re-worked share structure will allow us
to complete the SirenGPS transaction, raise money through third
party investment in HDSI preferred stock, and free up common stock
for financing upon completion of a registration statement required
to access the $4M line of credit we have in place. We believe that
our efforts to develop business and the acquisition of SirenGPS
assets will be sufficient to support our price per share at levels
necessary to complete the registration. We do not believe that a
reverse split will be necessary at this time.”
For additional information about HDSI, please visit www.hdsicorp.com, or refer to the Company’s regulatory
filings at www.sec.gov.
About HDS International Corp.
HDS International Corp. (OTC Pink:
HDSI), is a technology development company based in St. Louis,
MO, providing emergency management software services under a
license agreement with SirenGPS, Inc., a Delaware corporation
headquartered in Missouri.
Forward-Looking Statements
Statements not historical in nature, are intended, and are
hereby identified as, "forward-looking statements". Forward-looking
statements may be identified by words including "anticipate,"
"believe," "intends," "estimates," "expect," and similar
expressions. The Company cautions readers that forward-looking
statements including, without limitation, those relating to future
business prospects are subject to risks and uncertainties that
could cause actual results to differ materially from projections,
estimates or aspirations, due to factors such as those relating to
economic, governmental, technological, and any risks and factors
identified from time to time in the Company's reports filed with
the SEC.
CONTACT INFORMATION
HDS International Corp.
401-400-0028
info@hdsicorp.com
http://www.hdsicorp.com