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Scientific Industries Inc announces acquisition of balance and digital scale business


Thursday, 27 Feb 2014 08:28am EST 

Scientific Industries Inc:Acquired from Fulcrum Inc., its laboratory and pharmacy balance and digital scale business and related assets through Asset Purchase Agreement with the seller and its principal stockholders, including its Chief Operating Officer.Acquisition consideration consists of 126,449 shares of the company's common stock and cash of $430,000.Plus additional amounts to be paid based on percentages ranging from 8 pct to 11 pct of the net sales by the company of the products for the periods ending June 30, June 30, 2015, June 30, 2016 and June 30, 2017.Company also paid $270,000 pursuant to long term non-competition agreements with the principal stockholders. 

Company Quote

3.25
0.25 +8.33%
8 Aug 2014