Roadships Hldg Inc (OTCMKTS:RDSH) disclosed that it entered into a share exchange deal to acquire 90% voting control in Click Evidence Inc. in exchange for up to approximately 17.96 billion shares of RDSH common stock. The deal, which is expected to close on May 28, will bring high-technology capability to company’s transport business. The division is headed by the founder and CEO, Micheal Nugent.
The significance
Roadships stated that its transport business will carry on the development work of its Intermodal Transport System. It is a major infrastructure-based project which will help the company to commence transportation operations of road transport trailers through blue water highways in most advanced ships.
The technology segment
Roadships technology division was established in 2014 in order to develop a strong base for transport-based applications. The segment has recorded considerable progress with the setting of Polybia Studios. Now with the purchase of Click Evidence, the company will move forward in the same segment. Dr. Jon N. Leonard, Click Evidence’s President will look after the management of technology division.
The objective
Initially Roadships developed a collaborative working association with Click Evidence. The acquisition will help it to boost its transport technology expansion. It will also support its engagement of transport segment with all elements of industry and business, providing a strong revenue generation source built on reliable imaging technology of Click Evidence. The transport segment is the core business of the company.
The plans
Micheal Nugent, Roadships CEO has been a firm supporter of constructing freight corridors both in the U.S. and Australia. He said that having faced the global financial crisis, the management has moved forward with their business plan. The transport acquisition deals are now being reanalyzed.
In last trading session, the stock price of Roadships surged more than 22% to close the trading session at $0.00110. The strong gains came at massive share volume of 38.41 million compared to average share volume of 1.85 million.
