Bravatek Solutions, Inc. cancelled the acquisition 49% stake in RMA Armament, Inc.
November 07, 2019
Share
Bravatek Solutions, Inc. (OTCPK:BVTK) entered into a binding letter of intent to acquire 49% stake in RMA Armament, Inc for $1.9 million on October 31, 2019. Pursuant to the terms of transaction, Bravatek Solutions, Inc. will issue preferred stock entitling RMA Armament, Inc to $1.9 million in cash payments from Bravatek Solutions, Inc. Also, RMA Armament, Inc agreed to make quarterly payments to Bravatek Solutions, Inc. consisting of 49% of the operating profits of RMA Armament, Inc, with 39% of the 49% retained by RMA Armament, Inc and credited against the Bravatek Solutions, Inc.’s payment amount until the Bravatek Solutions, Inc.’s payment amount has been deemed paid in full, and 10% of the 49% paid to Bravatek Solutions, Inc. by RMA Armament, Inc quarterly.
Bravatek Solutions, Inc. (OTCPK:BVTK) cancelled the acquisition 49% stake in RMA Armament, Inc on November 8, 2019.
Bravatek Solutions, Inc. is a security-platform company, which offers software, tools and services to worldwide markets. The Company provides security, defense and information security solutions, which assist corporate entities, governments and individuals in protecting their organizations and/or critical infrastructures against error, as well as physical and cyber-attack. The Company is engaged in marketing and distribution of security capabilities derived from market alliances that yield defense and information security software, hardware and services, and telecom services. The Companyâs products include software, hardware and services, and span a range of industries, including e-mail security, user authentication, robotics, telecommunications and cyber breach protection. Its business operations are focused on selling ECRYPTONE while also expanding its Market Alliance Program (MAP), enabling complimentary products and services to set their suite of cyber security solutions.
BRAVATEK SOLUTIONS, INC. 
