Published On: Tue, Aug 30th, 2016

PM&E Inc. (OTCMKTS:PMEA) Files Financial Reports As It Closes In On Reverse Merger With EVADA

PM&E Inc. (OTCMKTS:PMEA) has filed its financial reports, up to the 1H2016. The company made a series of filings with the SEC on August 27, to complete its obligations. The stock is currently marked as dark or defunct, but is expected to be updated to current very soon. For the 1H2016, PMEA reported that it had no revenues and total expenses of $12,000, while its cash position stood at $18,000.

In addition to having completed its filing obligations, the company announced that it was in the process of completing its reverse merger with EVADA Aircraft Corp. One of the conditions of the reverse merger was that PM&E would once again become current with the SEC and become fully reporting. This condition has now been met. The company stated that it expects the merger to be completed by mid-September 2016.

Furthermore, in accordance with the merger agreement, the company is making changes to its board and management. As such, Jack Merck and Thomas Hamilton have been replaced by Joseph Bourne, as the new CEO, and Jimmy Willis, as the new VP of Business Development. PMEA recently launched its corporate website and official social network accounts. The company stated that it plans to update the website on a daily basis. PMEA stated that it hopes to update its shareholders through these channels, about its operations, news and strategies.

PM&E is a development stage company with a core focus on development and implementation of solar technologies. The acquisition of EVADA is aimed at adding the field of aeronautics, to its current portfolio. EVADA, on the other hand, has three subsidiaries: EVADA Aircraft Corp, EVADA Aircraft SA and EVADA Services SARL. The company specializes in amphibious aircraft manufacturing, which are mainly two-seater or four-seater models. It currently has two Light Sports Aircrafts in the market, the Century and the Rally.

PM&E Inc. (OTCMKTS:PMEA) gained 90% in terms of its share value, during the August 29 trading session. The stock closed at $0.00038 per share, after having a trade volume of 9.65 million.

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