Solar Thin Films, Inc. completed the acquisition Quality Resource Technologies, Inc.
May 03, 2013 at 12:00 am EDT
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Solar Thin Films, Inc. (OTCPK:SLTZ) entered into agreement to acquire Quality Resource Technologies, Inc. in stock on April 26, 2013. As a part of consideration, Solar Thin Films will transfer 50% issued and outstanding shares of Solar Thin Films to Quality Resource Technologies. Solar Thin Films intends to arrange to raise a total of $5 million pursuant to the sale of newly issued Solar Thin Films common stock, a minimum of $2 million to be raised within 60 days after the closing date and the balance to be raised within 150 days after the closing date. As of April 30, 2013, Solar Thin Films acquired 95% stake in Quality Resource Technologies and require shareholder approval of Quality Resource Technologies to acquire the remaining 5% stake in Quality Resource Technologies within 30 days.
Solar Thin Films, Inc. (OTCPK:SLTZ) completed the acquisition Quality Resource Technologies, Inc. on April 30, 2013.
Solar Thin Films, Inc., operating as STF Group, is a clean technology company. The Company operates in three core business units: Solar Photo Voltaic (PV) Development residential, commercial and solar off grid lighting; PowerBoy energy efficiency and harvesting products, and SpaceCube light-weight Fiberglass Reinforced Plastic (FRP) storage/shipping containers. It also provides modular Energy Star rated ECO-homes. PowerBoy/SpaceCube Stores markets and sells solar PV and solar hot water kits and systems, manufactured, assembled and deployed by STF, to residential, commercial and government customers. SpaceCube storage/shipping containers are manufactured a with a composite Fiberglass Reinforced Plastic (FRP) wall panel system that reduces the weight of containers by 30%. The strength of the FRP wall panel system gives SpaceCubes superior surface resistance, corrosion protection and the ability to be stored in a stacked position in any environmental condition.