Steven Lemma and Mychol Robirds acquired substantially all assets of Payprotec Oregon, LLC from Excel Corporation (OTCPK:EXCC) on April 30, 2016. Pursuant to the agreement, Securus will provide financial assistance to Steven Lemma and Mychol Robirds in the form of a forgivable loan to support the transition of Securus’ operations to Steven Lemma and Mychol Robirds. In connection with the purchase agreement, Excel Corporation acquired its series A preferred stock previously held by Steven Lemma and Mychol Robirds, who will remain significant holders of Excel common stock. Nearly all of Securus' approximately 100 employees were hired by Steven Lemma and Mychol Robirds. The transaction is expected to improve 2016 operating income of Excel Corporation by Excel Corporation by approximately $3 million. James E. O’Bannon of Jones Day acted as legal advisor to Excel Corporation. James C. Huber of Global Legal Law Firm acted as legal advisor for Steven Lemma and Mychol Robirds. Steven Lemma and Mychol Robirds completed the acquisition of substantially all assets of Payprotec Oregon, LLC from Excel Corporation (OTCPK:EXCC) on April 30, 2016.