Business
VAYK Closes Acquisition of $1 Million Company
VAYK Closes Acquisition of $1 Million Company.
About this update from Vaycaychella Inc.
[{"type":"text","content":"\n\n\n\nVAYK Closes Acquisition of $1 Million Company\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nVAYK Closes Acquisition of $1 Million Company\nPR Newswire\nATLANTA, Jan. 30, 2025\n\n\n\nATLANTA, Jan. 30, 2025 /PRNewswire/ -- Vaycaychella, Inc. (OTC Pink: VAYK) (\"VAYK\")  announces the successful acquisition of a 50% non-managerial ownership stake in a home engineering service company based in Atlanta, Georgia. The acquired company reported approximately $1 million in revenue for the year 2023, with a solid operating profit margin.\n\nAs part of the deal, the acquisition includes the 2024 P&L of the acquired company, which means that Vaycaychella will consolidate the acquired company's revenue and profit in its pending financial statement for the year 2024.\nPayment in Preferred Shares with a Conversion Price of $0.005\nVAYK will issue 500,000 Series B preferred stocks to the owner of the business, in exchange for the 50% non-managerial ownership. Each Series B preferred share will bear a face value of $1.00, and will be conditionally eligible to convert into 200 common shares, effecting a conversion price of $0.005 per share. This conversion price is than 500% higher than the most recent closing price of VAYK's common stocks.\nFurther, those Series B Preferred shares are not eligible to be converted into common shares until 24 months later, or when the price per share of VAYK's common stocks stays above $0.005 for ten consecutive days.\nThe acquisition price ($500,000 for 50% ownership) is roughly based on 1x Value/Revenue multiple, which is lower than the average multiple of engineering and construction industry, according to the newest available data published by independent valuation provider Eqvista (https://eqvista.com/revenue-multiples-by-industry/).\nThe company also has a conditional option to acquire the remaining 50% ownership and completely take over the acquired company. The acquisition price will be the same plus preformulated adjustments, but the company will have to pay in cash. \nIntegrated Part of $100 Million New and Disruptive Airb...