OCEAN SPRINGS —BounceBackTechnologies.com Inc. (BBTC) has signed a memorandum of understanding with a private technology company to merge the two companies. The plan would be to reinstitute its reporting to the SEC and once again trade on one of the national exchanges.
BBTC said the technology company, while unnamed to date, is a supplier of Internet software to the consumers worldwide. Its products include software dealing with PC optimization, anti-malware protection and PC driver enhancements. The technology company had un-audited annual revenue in excess of $30 million in 2007 & 2008 and profit margins in excess of 20 percent.
BBTC and the prospective buyer are performing their respective due diligence and are retaining SEC-qualified auditors to complete the due diligence process and prepare the respective companies’ financial statements.
Servius Capital Inc., an investment banking firm from Atlanta, is assisting the two companies in their merger plans.
Jack Pilger, CEO of BBTC, said, “I consider this a great fit and opportunity for both companies and their respective shareholders. Our annual shareholders meeting will be held as we move closer to the closing, which we expect to happen prior to year-end.”