May 27 2009
Extreme Mobile Coatings Worldwide Corp. ("Extreme") (OTCBB: EMWW) has entered into a Letter of Intent to acquire 100% of the issued and outstanding shares of Cloudtech Sensors, Inc. ("Cloudtech"), an early-stage developer of handheld detectors that can discover and identify hundreds of biological, chemical, environmental and radioactive agents, then wirelessly relay crucial data to command-and-control centers for instant analysis and response.
On the execution of a definitive Agreement, each share of Cloudtech will receive one share of Extreme at the closing. It is anticipated as part of the transaction that senior management of Cloudtech will assume some of the senior positions with Extreme.
The closing will take place on completion of certain diligence items and there being no comments of the Securities and Exchange Commission with respect to the appropriate filings.
The Company feels that the addition of the technology being developed by Cloudtech will enhance the anti-microbial powder coating operations of Extreme.