This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Xumanii Buys Trakkers

Stocks in this article: INVA

LAS VEGAS, Oct. 1, 2013 (GLOBE NEWSWIRE) -- Xumanii (OTCQB:XUII) announced that it has acquired RFID business, Trakkers LLC, for 2 million preferred shares of Xumanii. The effective date of the transaction is October 1, 2013. The preferred shares have a face value of $1, valuing Trakkers at $2 million.

Trakkers has developed its own proprietary RFID scanners (named "Mi"). The "Mi" has some unique features including the ability to scan RFID, 1 & 2 dimensional bar codes and mag stripes - all from one device approximately the size of a smart phone. The Mi also has a touch screen and a GPRS capability (scanned data can be sent over mobile phone networks to any location). Trakkers is currently generating revenue by providing the scanners to major trade shows where they are used as lead retrieval devices. Trakkers devices have been used at many of the biggest trade shows in the United States including CES, Comicon and many more.

Revenue for Trakkers for the fiscal year ending April 2013 and 2012 was $1,573,473 and $1,200,142 respectively. Adjusted EBITDA for the fiscal year ending April 2013 and 2012 was $383,110 and $228,270 respectively. More financial and other information will be provided in a super 8K. More information about Trakkers can be found at www.Trakkers.com.

Xumanii acquired Trakkers from Tesselon LLC, a subsidiary of Inova Technology, Inc. ("Inova"). Inova CEO, Adam Radly, said, "We decided to break Inova into two parts so that our network solutions business and the RFID business can pursue their own business plans without being constrained by each other and also to enable our shareholders to invest in one or the other or both as opposed to being forced to invest in both."

Upon completion of the transaction Mr. Adam Radly will temporarily hold the position of CEO of both Inova and Xumanii concurrently while the board and senior management of Inova and Xumanii are adjusted to reflect their new business plans. Mr. Frigon has resigned from the board of Xumanii and is no longer playing a role in Xumanii.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs