OMVS Successfully Completes Due Diligence Of Robotic Assistance Devices
July 06 2017 - 09:12AM
InvestorsHub NewsWire
SOURCE: On the Move Systems
|
HENDERSON, NV-(NewMediaWire - Jul 6, 2017) - On the Move
Systems (OTC PINK: OMVS) is pleased to announce that it has
successfully completed its due diligence of Robotic Assistance
Devices (RAD - www.roboticassistancedevices.com) and is
currently preparing the required disclosure documents and financial
statements in conjunction with company auditors and RAD's
management. OMVS expects to complete the acquisition of RAD by
August 10, 2017 as previously announced. "We are looking forward to
completing the acquisition with OMVS," said Steve Reinharz,
President and CEO of RAD. "We are confident that the combined teams
of RAD and OMVS will lead to a very fruitful and successful
partnership."
RAD expects to deploy robots to end users in July. To date RAD
has commitments for 15 robots for total contract values of
approximately $1.5 million. OMVS has successfully completed its due
diligence process on RAD as part of the binding LOI that was
entered into last week for the purchase of 100% of RAD by OMVS. It
is anticipated that the acquisition will close before August 10,
2017.
RAD currently has a sales pipeline of over 50 Fortune 500
companies and over 25 qualified dealers and distributors that have
a combined customer base of more than 35,000 end user
corporations.
For further information please refer to www.sec.gov
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING
STATEMENTS
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Statements in this news release other than statements of
historical fact are "forward-looking statements" that are based on
current expectations and assumptions. Forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by the
statements, including, but not limited to, the following: the
ability of On the Move Systems to provide for its obligations, to
provide working capital needs from operating revenues, to obtain
additional financing needed for any future acquisitions, to meet
competitive challenges and technological changes, and other risks.
On the Move Systems undertakes no duty to update any
forward-looking statement(s) and/or to confirm the statement(s) to
actual results or changes in On the Move Systems expectations.
CONTACT INFORMATION
Investor Relations:
Everest Corporate Advisors Inc.
Jack Thompson
www.everestcorp.net
702-902-2361
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