By entering into a ‘Share Exchange Agreement’ with the purpose to acquire Click Evidence Inc. has left little impression on Roadships Hldg Inc (OTCMKTS:RDSH) stakeholders. Clearly, investors were unmoved by the latest development, rather their sentiments stood further deteriorated, which was reflective in the stock’s movement. During the last trading session, the company stock price plummeted by nearly 46% to $0.00200 while the average volume remained 6.13 million.
The company’s most recent communication points to its Share Exchange Agreement reached with Click Evidence Inc. The terms of the agreement define that Roadships Hldg Inc (OTCMKTS:RDSH) will takeover 90% voting control of Click Evidence in exchange of 1,796,571,210 shares of its common stock. The company highlighted that the acquisition will add to its already robust transport business through the inclusion of high-technology capability.
At the same time, the company aims to take a big leap forward in the development of transport-bases apps, following the agreement. Also, the acquisition is expected to conclude by the end of May, following which the market cap of the company may run in billions.
Staking bets on technology
Roadships Hldg Inc (OTCMKTS:RDSH) confirmed that its CEO and founder, Michael Nugent will continue to oversee its Intermodal Transport System, while Click Evidence’s President, Dr. Jon N. Leonard will head the company’s technology division. The company believes that the acquisition will boost shareholders’ value and will open a new stream of revenues as well as asset generation for it.
But, if the true financial picture of Roadships Hldg Inc (OTCMKTS:RDSH) is referred then the reality appears to be on the flipside. The company’s aged financial report exposes it brutally as it held just $196 in cash. The current liabilities of the company sit at $57,699 while there are no traces of revenues. Further, the yearly net loss of the company is as huge as $27 million, information, which is certainly repulsive for the shareholders.