SoOum Corp (OTCMKTS:SOUM) Subsidiary Awarded Federal IDIQ Contract
SoOum Corp (OTCMKTS:SOUM) subsidiary firm Western Grade LLC has obtained an IDIQ Federal deal with a Division of the U.S. Government. The deal will offer road construction and maintenance assignments for a period of 3 years with a limit of $950,000. An IDIQ contract offers for an indefinite quantity of services and/or supplies during a certain period of time. The deal should add to the sales stream of the firm for the imminent 3-years, improving Western Grade’s contract pipeline.
SoOum submitted a SEC FORM 8K/A, reporting operating and financial results following the last year acquisition of Western Grade, a civil contractor based in the mid-west, USA. The firm shows, on a total basis, jump in earnings, asset value and net income. The post-acquisition jump in revenue is a evidence to the firm’s commitment to shareholder value, as SoOum subsidiary adds tremendous value to overall strcuture. Both organizations are positioned to manage the two processes in unison.
The firm’s pipeline of contracts for the combined group is anticipated to increase, following the Western Grade acquisition, and they consider it will be a trigger for future growth, though there is no guarantee that this will happen.
SoOum believes it can turn to be an asset to its subsidiary in its business endeavors, via the handling of its delivery and sourcing activities, while Western Grade is anticipated to help SoOum’s commodities e-Commerce platform by feeding the portal with immediate orders of goods offered by Western Grade.
The Company is implementing its strategy well, while adhering to the master plan reported in the last September. SoOum’s Board agree that the imminent step to enhancing shareholder value is to work on up-listing of stock to a more transparent and liquid exchange, once the requirements are fulfilled. Although there is no guarantee that this will be achieved, the firm will continue to track the possibilities.© Copyright 2016 OTC News Magazine. All rights reserved.