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Democrasoft Inc To Transfer Assets To Private Company


Monday, 11 Mar 2013 06:03am EDT 

Democrasoft Inc announced that effective March 8, 2013, all of assets and liabilities were transferred into one of two wholly owned subsidiaries, Collaborize, Inc. This new private company expects to issue new securities, as appropriate, to interested investors. Democrasoft will be renamed Democrasoft Holdings, Inc., and the subsidiary (the operating company) will do business as Democrasoft. The public company (currently Democrasoft, Inc.) will initially be the sole shareholder of the operating company. It will engage in no other activities for the foreseeable future, except as it may benefit from the operations of private subsidiary. The financial results of the two companies will be consolidated, as required by the accounting rules, and both companies will cease publicly distributing financial or other information. 

Company Quote

0.012
-0.0060 -33.33%
21 Aug 2014