Bahamas Development Corp. Releases update.
West Palm Beach, FL -- August 04, 2017 -- InvestorsHub NewsWire -- Bahamas Development Corporation (OTC PINK: BDCI)
Released a Supplemental Report on OTC Markets today showing the balance sheet of Native Outfitters as of June 30, 2017.
The Company is currently working with Wells Fargo to complete the acquisition of Incite, and expects to complete the final closing in the coming weeks. To date the Company has paid $265,000 in cash towards the purchase price and will pay an additional $35,000 prior to closing.
In the first 6 months of 2017, the combined revenue of both companies was in excess of $1 million dollars, with over $250,000 in pre-tax income. Three year combined projections were also released. Revenue is anticipated to exceed $3 million in year 3, with pretax income of over $650,000.
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