MediaG3, Inc. cancelled the acquisition of HEXA 2 Corporation.
December 10, 2012 at 09:30 am IST
Share
MediaG3, Inc. (OTCPK:MDGC) signed a definitive agreement to acquire HEXA 2 Corporation for $70 million in stock on August 7, 2012. Upon completion of due diligence and conclusion of final proceedings in the next 30 days, there will be announcements on reorganization and industry expansion strategies with solid pro-forma of revenue streams for the combined company. Subsequently, MediaG3 intends to change its name and apply for a new CUSIP number and trading symbol. Also, the combined companies shall undergo a third party valuation followed by audit to qualify the company for listing on OTC: BB or NASDAQ small cap markets.
On October 16, 2012, Media G3 (Symbol: MDGC.PK) announced delay on completion of its definitive agreement until MDGC share value reaches $0.30 as originally intended in the definitive agreement.
MediaG3, Inc. (OTCPK:MDGC) cancelled the acquisition of HEXA 2 Corporation on December 10, 2012.
MediaG3, Inc. (MDGC) is engaged in the design, development and deployment of wireless broadband Internet. The Company also designs and develops wireless networks, fixed and mobile Internet, communications, media and entertainment products. MDGCâs services include providing WiFi network and wireless Internet access to end users at speeds from 20 to 100 Megabytes per second, point-to-point and point to multi-point wireless Internet data links up to 1Gigabytes per second. The Company also offers point-to-point and point-to-multipoint digital microwave transmission systems for first/last mile access, middle mile/backhaul and long distance trunking applications. The Company's products include broadband wireless access base stations and customer premises equipment for fixed and mobile point-to-point digital microwave radio systems for Internet access, backhaul, trunking, and license-exempt applications; and supporting network deployments, network expansion, and capacity upgrades.