APT MotoVox Group, Inc. acquired Motopeds from Charles Carothers, Cameron Woods, and Missing Link, LLC for $0.2 million
September 12, 2014 at 12:00 am EDT
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APT MotoVox Group, Inc. (OTCPK:MTVX) entered into an asset purchase agreement to acquire Motopeds from Charles Carothers, Cameron Woods, and Missing Link, LLC for $0.2 million in cash on September 8, 2014. APT MotoVox will pay $0.05 million upon signing and the balance of $0.15 million is payable on or before October 31, 2014. Under the terms of the agreement, APT MotoVox also will pay 25% of the first $1 million of 2014 MotoPed gross revenue to Charles Carothers, Cameron Woods, and Missing Link, LLC and 20% of the second $1 million in gross revenue for the same period. Charles Carothers, Cameron Woods, and Missing Link will further receive one share of preferred non-voting series F stock of APT MotoVox each for every $200 of revenue derived from MotoPed sales in 2014 and 2015. Charles Carothers, International Morotsport Marketing Services, LLC and Cameron Woods will also enter into agreements with APT MotoVox to provide sales and marketing and product development services specific to the MotoPed product line. The transaction is subject upon completion of agreement with Ocean Group, Ocean Stainless, and Avesta International Corporation and due dlligence.
APT MotoVox Group, Inc. (OTCPK:MTVX) completed the acquisition of Motopeds from Charles Carothers, Cameron Woods, and Missing Link, LLC on September 12, 2014.
APT Motovox Group, Inc. operates through its subsidiary, APT Group, Inc., a propulsion technology company that manufactures and distributes transportation, utility and recreational powersport products. APT Group, Inc. offers Motovox, a range of motorsports products. Its products include mini bikes, which include MBX10, MBX11, MBX12 and MBX20; electric bikes, which include MBxXSe; pit/dirt bikes, which include MVX70, MVX110 and MVX250; Go-Karts, which include MGK11, MGK12 and MGK30; scooters, which include MVS10, and generators, which include MGR10. It also offers a range of parts, including MBX10 Mini Bike Parts, MVS10 Stand Up Scooter Parts, MBX11 Mini Bike Parts, MBxXSe Electric Mini Bike Parts, MGK11/12 Parts, MVX70 Pit Bike Parts and Factory Refurbished.
APT MOTOVOX GROUP, INC. 
