Evolucia Inc. has entered into a letter of intent to acquire the assets of Affineon Digital Lighting, a private LED fixture and control systems company in Coral Springs.
Sarasota-based Evolucia (OTCBB: ILED) will purchase the assets for a price not to exceed $12 million in cash, according to a written statement.
Quarterly payments will start after the second consecutive quarter of positive cash flow by Evolucia based on a formula that includes profits.
Evolucia, developer of high-performance LED…
Evolucia Inc. has entered into a letter of intent to acquire the assets of Affineon Digital Lighting, a private LED fixture and control systems company in Coral Springs.
Sarasota-based Evolucia (OTCBB: ILED) will purchase the assets for a price not to exceed $12 million in cash, according to a written statement.
Quarterly payments will start after the second consecutive quarter of positive cash flow by Evolucia based on a formula that includes profits.
Evolucia, developer of high-performance LED…