LAS VEGAS, NV, Jan. 25, 2018 (GLOBE NEWSWIRE) --
DLT Resolution Inc. (OTC: DLTI), a blockchain technology and data services company providing distributed ledger technology that currently services the healthcare and telecommunications industries, is pleased to announce the acquisition of an 80% interest in A.J.D. Data Services Ltd.
The acquisition is part of a tax free share for share exchange which will see DLT Resolution issuing 525,000 restricted common shares on closing and an additional 3,675,000 shares upon meeting the following milestones:
• 1,050,000 Shares upon A.J.D. Data Services reaching $500,000 in gross sales
• 1,050,000 Shares upon A.J.D. Data Services reaching $1,000,000 in cumulative gross sales
• 525,000 Shares upon A.J.D. Data Services reaching $1,500,000 in cumulative gross sales with $100,000 in pre-tax earnings
• 525,000 Shares upon A.J.D. Data Services reaching $2,000,000 in cumulative gross sales with $150,000 in pre-tax earnings
• 525,000 Shares upon A.J.D. Data Services reaching $2,500,000 in cumulative gross sales with $200,000 in pre-tax earnings
Based on the current run rate, management expects the majority of these milestones to be reached within fiscal 2018. In compliance with the Exchange Act, the shares will be issued under applicable exemption from registration and will contain substantial resale restrictions. An audit and valuation on A.J.D. Data Services are expected to commence shortly and a Super 8k will be issued upon completion of same.
“In addition to the tremendous experience and aggressive growth that A.J.D. Data Services brings to our company, Blockchain integration is the natural progression for the data service industry. We feel the cross-pollination of our companies can leverage tremendous growth in the near future," said John S. Wilkes, President of DLT Resolution Inc.
About A.J.D. Data Services Ltd.
- A one-stop-shop resource for secure data management solutions.
Founded in December 2017 by 40 year industry veterans, A.J.D. Data Services recorded sales of CAD $127,000 in its first two weeks of operations. The founders, the Darbyson brothers, bring more than 70 years of combined industry experience of leading secure data service management in Canada and recently the USA. Its clients represent some of the country’s top businesses from a variety of sectors. Focused on document imaging, telemarketing, data entry, document management and all other back-end functions, A.J.D. Data Services customers can expect excellent and friendly service, innovative equipment and technology, rock-solid security and cost-effective solutions. The demand for A.J.D. Data Services continues to grow. Companies that have invoices, ledgers, statements, applications, surveys, employee and customer rewards programs, applications and a wide range of other non-core functions all benefit from data management.
For more information visit: www.ajddataservices.com
About DLT Resolution Inc.
DLT Resolution Inc. provides blockchain distributed ledger technology and data services that currently serve the healthcare and telecommunications industries. Through its online portal RecordsBank.org, the company operates a HIPPA compliant health information exchange. The current platform of the Company securely retrieves, stores and transfers medical records. DLT Resolution Inc. serves patients, Doctors, Insurers, and other third party's that request medical records in the United States and Canada. For more information visit: www.dltresolution.com
Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.