Petrogress, Inc. cancelled the acquisition of all the assets of BioSense Medical Devices LLC.
December 09, 2016
Share
Petrogress, Inc. (OTCPK:PGAS) signed a letter of intent to acquire all the assets of BioSense Medical Devices LLC on December 9, 2015. The agreement to be entered into between Petrogress, Inc. and BioSense Medical Devices will consist of a preferred stock transaction. BioSense Medical Devices will initially operate as a wholly owned subsidiary of Petrogress, Inc. The corporate offices and employees of Petrogress, Inc. will remain in Duluth, Georgia. The transaction is expected to complete in the next few weeks. The transaction is accretive to earnings per share.
Petrogress, Inc. (OTCPK:PGAS) cancelled the acquisition of all the assets of BioSense Medical Devices LLC on December 9, 2016.
Petrogress, Inc., formerly 800 Commerce, Inc., is a holding company. The Company, along with its subsidiaries, is engaged in international trading and shipping business. The Company is engaged in exploring the potential for acquiring or purchasing or leasing newly built liquefied natural gas (LNG) vessels in the United States to be used for the supply and sea freight of the United States LNG exports. The Company's subsidiary, Petrogres Co. Ltd. (Petrogres), operates as an oil commodity company in West Africa. Its other subsidiaries are Petronav Carriers LLC (Petronav) and Petrogress Oil & Gas Energy Inc. (Petrogress Energy). Petronav focuses on primarily managing the day-to-day operation and handling of the tanker fleet it manages. Petrogress Energy is primarily focused on investigating the feasibility of acquiring oil fields in Texas so that the Company can expand its operations into the LNG market within the United States market.
PETROGRESS, INC. 
