Published On: Fri, Sep 30th, 2016

PM&E Inc. (OTCMKTS:PMEA) Completes Merger With EVADA

PM&E Inc. (OTCMKTS:PMEA) has announced that EVADA Aircraft Corp, has successfully completed its reverse merger with the company. As such, PMEA has decided to increase the number of authorized shares to 30 billion, so as to complete the acquisition and be in a position to enhance growth. The company noted that it would use approximately 12 billion of its restricted shares, to complete the acquisition. However, the reverse merger means that EVADA is now a publicly traded company.

Aymen Bouaoun, the Chief Administration & Sales Officer at EVADA, claimed that becoming a publicly traded entity was crucial to their growth strategy. He further stated that this provides the company with an opportunity to position itself to capture growing market opportunities. The CEO of PMEA, Joseph Bourne, stated that the merger provided them with access to capital and additional liquidity. He also claimed that the company is expected to report revenues of $25 million, in 2017.

Earlier this week, PM&E announced that its board of directors had decided to cancel the 1-for-100 reverse split, of its common stock. The company stated that it had taken the decision after reviewing the increase in share value and surge in trade volumes, experienced during the last few trading sessions. The management cited that it would provide an update on the future strategy, very soon.

It should be noted here that PMEA only recently became fully reporting with the SEC, on September 14, 2016. Mr. Bourne had claimed that the change in status would allow the management to secure additional funding from investors and would also ensure transparency between the company and its shareholders. He also hinted that this was done to ensure that as the company gets ready to position EVADA for growth, additional funding would also be made readily available.

PM&E Inc. (OTCMKTS:PMEA) lost 50% of its share value, to close at $0.0002 per share, after having a trade volume of 86.53 million, during the September 29 trading session.

© Copyright 2016 OTC News Magazine. All rights reserved.