Grasshopper Staffing, Inc. completed the acquisition of Indeliving Holdings, Inc. from a group of shareholders for $6.3 million.
March 14, 2018
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Grasshopper Staffing, Inc. (OTCPK:TCKF) (‘Grasshopper Staffing ‘) entered into an agreement to acquire Indeliving Holdings, Inc. from a group of shareholders for $6.3 million on March 13, 2018. The group of shareholders includes Platinum Equity, LLC, Jack E. Arms, Brad Pruitt, Parker Frost, Michael McIntrye, and Lisa Marie Marcy. The consideration involves issuance 5.2 million shares of Grasshopper Staffing to shareholders of Indeliving, representing approximately 3.7 million shares to Platinum Equity, 0.5 million shares to Jack E. Arms and Brad Pruitt each, approximately 0.22 million shares to Parker Frost and Michael McIntrye each and 0.1 million shares to Lisa Marie Marcy. Post-acquisition, Platinum Equity, LLC will hold approximately 36% stake in Grasshopper Staffing. Post-acquisition, IndeLiving will operate as a subsidiary of Grasshopper Staffing.
For the year ended December 31, 2017 IndeLiving had gross revenues in 2017 of approximately $0.135 million. Post-acquisition, Scott M. Boruff was appointed as Chief Executive Officer of Grasshopper Staffing and also to Board of Directors, while Jeremy Gindro resigned as a member of Board of Directors. Melanie Osterman, who had previously served as our President, resigned as an Officer of Grasshopper Staffing but will remain as an Officer and employee of Grasshopper Staffing, Inc., a subsidiary of Grasshopper Staffing. The transaction is subject to execution of employment agreement with Scott M. Boruff, exercise of warrants of IndeLiving, resignation of Jeremy Gindro, the sole director of Grasshopper Staffing and Melanie Osterman, and is subject to Grasshopper Staffing to raise at least $0.325 million in proceeds from the sale of its securities.
Grasshopper Staffing, Inc. (OTCPK:TCKF) completed the acquisition of Indeliving Holdings, Inc. from a group of shareholders on March 13, 2018.
Healthcare Integrated Technologies, Inc. is a healthcare technology company. The Company creates a diversified spectrum of healthcare technology solutions to integrate and automate the continuing care, home care and professional healthcare spaces. Its initial product, SafeSpace with Artificial Intelligence (AI) Vision, is an ambient fall detection solution designed for continuing care communities and at home use. SafeSpace includes hardware devices utilizing red, green and blue (RGB), radar and other sensor technology coupled with its internally developed software to monitor a person remotely. In continuing care communities, SafeSpace detects resident falls and generates alerts to a centralized, intelligent dashboard without the use of wearable devices or any action by the resident. In the home, SafeSpace detects falls and sends alerts directly to designated individuals. In addition to its product offerings, the Company also develops a home concierge healthcare service application.
HEALTHCARE INTEGRATED TECHNOLOGIES, INC. 
