| Acquisition Process |
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We use the following process for investigating and consummating acquisitions: 1. Identify candidates that meet our criteria. 2. Contact the CEO/Principal Shareholder to determine their interest in working with us. 3. Complete a mutually satisfactory confidentiality agreement. 4. Conduct an on-site meeting at the acquisition candidate’s offices. 5. Complete a preliminary due diligence and determine if we want to make an offer. 6. Prepare a letter of intent with proposed terms. 7. Proceed with detailed due diligence . 8. Complete and execute purchase agreement. Because we have a significant amount of acquisition experience, our acquisition criteria are very specific and we are using our own capital to make acquisitions, we can move very quickly if necessary. As a norm, we attempt to complete steps 1 through 6 (as described above) within 30 days. Steps 7 and 8 are typically completed within an additional 30 to 60 days, depending on the scope of the acquisition company’s operation, the form of the purchase agreement and other relevant factors. |
