Key Developments: Microelectronics Technology Co (MELY.PK)
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17 May 2013
$0.00 (+4.44%)
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16,000
741,696
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Latest Key Developments (Source: Significant Developments)
Microelectronics Technology Co Signs WeatherCity Services To Vancouver Point Of Presence, or 'POP'
Microelectronics Technology Co announced its wholly owned subsidiary, Cloud Data Corps's new business center the Dynamo Server Division, has signed WeatherCity Services as a new Server Client. Full Article
Microelectronics Technology Co Enters Into Joint Venture Agreement For Web Application Marketing Network Development
Microelectronics Technology Co announced that it has completed a letter of Intent to Joint Venture with Fidelity Capital Partners of Nevis for the development of an industry specific Web Application Marketing Network utilizing Microelectronics Technology's proprietary technologies such as DomainStutter. Full Article
Microelectronics Technology Company Expands Initial Round Of Financing To $2.7 Million For Cloud Data Corp.
Microelectronics Technology Company announced the completion of negotiations of an initial round of convertible preferred financing in the amount of $240,000.00 by an arms length private Small Cap Venture fund. The Company announced the terms of the financing have been enhanced to provide the Company with commitment to invest $2,500,000.00 during the next three quarters of 2012. The financing will be available to the Company in tranches of $500,000.00 based upon completion of certain milestones by the Company concerning network development and customer acquisition. This will bring a total of Convertible preferred financing commitment to $2,740,000.00. The Company will receive the first tranche of funding under the terms of the agreement this financial quarter. The proceeds of the initial round of financing are to provide equipment acquisition, servers, software development and general working capital. Full Article
Microelectronics Technology Company Updates On Acquire Cloud Data Corporation
Microelectronics Technology Company announced on August 3, 2011 that it has entered into a letter of Intent for the purchase of all of the existing outstanding shares of Cloud Data Corporation. The closing of the acquisition was subject to the completion of certain due diligence being completed on or before August 26, 2011. The Company also announced that the diligence process has been completed successfully and the acquisition will close August 26, 2011 as previously anticipated. Full Article
Microelectronics Technology Company Enters Into Letter Of Intent
Microelectronics Technology Company announced that it has entered into a letter of Intent for the purchase of all of the existing outstanding shares of Cloud Data Corporation. The terms and condition of the share exchange have been finalized and the closing is subject to certain due diligence to be completed over the weeks. It is anticipated that the transaction will close and be effective August 26, 2011. Further details regarding the transaction and the various Internet assets that Cloud Data Corp owns and operates, as well as the projects under development, will be made available upon completion of the due diligence period. Full Article
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