October 27, 2005
Better Online Solutions Ltd
Better Online Solutions Ltd. (BOS) will be selling the assets of its Communications Division to Qualmax, Inc., which is a U.S-based VoIP service and equipment provider. Qualmax will pay BOS four million Qualmax shares and 4% of the royalties generated from future revenues up to $ 800,000. One million shares will be paid by Escrow and released every quarter subject to Qualmax achieving certain revenue figures from the business it has acquired. Before the transaction is frozen, Qualmax will be merged into a publicly traded company. tmcnet.com reports:
Mr. Adiv Baruch, CEO of BOS, commented, "We are delighted to enter into this agreement with Qualmax. We have structured the transaction so that we receive our sale price in Qualmax shares primarily because we believe in Qualmax's potential, which we expect will be greatly enhanced by integrating the BOS Communications Division.
Read More: Qualmax Acquires BOS' Communications Division
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