Neon Bloom, Inc., announced that it has completed the acquisition of Advanced Executive Sales, LLC (AES), a leading financial services company providing business development and software solutions to all types of businesses, specializing in electronic payment and card processing.
Following several months of negotiations between Neon Bloom and Mr. Greg Bauer, the Managing Member of AES, resulting in a mutual agreement on April 15, 2024 as to the structure and consideration for the acquisition, the Company and Mr. Bauer finally completed their respective due diligence and closed this week.
As part of the final agreement, the Company Mr. Bauer returned 200,000,000 shares of the Company’s Common Stock, returning 50,000,000 shares of Common Stock in exchange for 2,000,000 shares of the Company’s Series B Convertible Preferred Stock. The restructuring of the acquisition consideration reduced the number of shares of the Company’s Common Stock issued and outstanding to 212,260,668 shares. Mr. Bauer was also appointed as a member of the Company’s Board of Directors and as its Chief Executive Officer.
Under the terms of the final agreement, AES will be converted from a Florida Limited Liability Company to a Florida C-Corp and continue to operate as a wholly owned subsidiary as “Advanced Executive Sales Inc.”.
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