Profit Planners Management Sells Organic Innovations Subsidiary's Assets
13 Mai 2014 - 4:00PM
Marketwired
Profit Planners Management Sells Organic Innovations Subsidiary's
Assets
NEW YORK, NY--(Marketwired
- May 13, 2014) - Profit Planners Management, Inc.
(OTCQB: PPMT) is pleased to announce
that it has completed the sale of assets of its Organic Innovations
subsidiary to a newly formed Nevada corporation named Organic
Innovations, Inc. ("Organic Innovations NV") pursuant to the terms
of the Asset Purchase Agreement between the parties dated as of May
7, 2014.
Under the terms of the agreement, the assets sold by the Company
included, but was not limited to: all intellectual property held by
the Organic Innovations subsidiary relating to its business
including the Organicallycrafted.com and Goldenagemedical.com
domain names and websites, all related customer lists and referral
sources, all material contracts entered into by the Organic
Innovations subsidiary, all tangible personal property of the
subsidiary, and all intangible rights and property of the
subsidiary including goodwill and going concern value. "We
accomplished what we planned," said Wesley Ramjeet, PPMT's
CEO. "Our intent was to incubate the Organic Innovations and
create value for our shareholders," added Wesley.
Under the terms of the agreement, PPMT sold assets of our
Organic Innovations subsidiary to Organic Innovations NV for an
aggregate purchase price of $115,000.00. The purchase price
will be paid in cash, a promissory note and the assumption of
debt. About Profit Planners Management, Inc. Profit Planners
Management, Inc. (OTCQB: PPMT) is a
publicly traded company that provides management, financial,
marketing and other professional services and business solutions.
Members of our team have both public accounting and industry
experience, and many of them have successfully started and operated
their own companies. This expertise allows our team to understand
and then implement what a company needs to achieve its business
goals. For more information, visit: www.profitplannersmgt.com
Organic Innovations, Inc. Organic Innovation Inc. is a privately
held Nevada corporation owned and controlled by a group of
investors all of whom are independent of the Officers, Directors
and controlling shareholder of the Company.
Contact: J. Bellitto Profit Planners Management, Inc.
Phone: 212-402-5200 E-mail:
jbellitto@profitplannersmgt.com
Profit Planners Management (CE) (USOTC:PPMT)
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