Woodbury, New York August 7, 2013 - Redijet, Inc. (Symbol: RJTI, "Redijet" or the "Company") announced today that the controlling interests of the Company have been sold to two investors by the Company's former president, Jeffrey Miller. The Company is also pleased to announce that it consummated a reverse merger with Uninsured Motorist Asset Investigation Recovery Services, Inc. ("UMAIRS"), a New York corporation.
On August 2, 2013, Jeffrey Miller, the controlling shareholder of the Company, entered into two stock purchase agreements and sold all of his restricted shares of common stock, par value $.001 of the Company ("Common Stock"), in the amount of 100,260,000, to two investors, who aggregately own 86.79% of the Company's issued and outstanding shares, not including the shares issued in the reverse merger, as a result of the change of control. In connection with the change of control, Jeffrey Miller resigned as President, Secretary, Treasurer and director of the Company. Robert Remolador was appointed as the new President, Chief Executive Officer, and director of the Company.
Also on August 2, 2013, the Company, UMAIRS, and stockholders of UMAIRS who collectively own 100% of UMAIRS's shares (the "UMAIRS Stockholders") entered into and consummated transactions pursuant to a Share Exchange Agreement (the "Share Exchange Agreement," such transaction referred to as the "Share Exchange Transaction" or "Reverse Merger"), whereby the Company issued to the UMAIRS Stockholders 20,000,000 shares of Common Stock of the Company, in exchange for 100% of the equity interests of UMAIRS held by UMAIRS Stockholders. As a result of the Share Exchange Transaction, UMAIRS became a wholly-owned subsidiary of the Company.
About Uninsured Motorist Asset Investigation Recovery Services, Inc. ("UMAIRS")
Uninsured Motorist Asset Investigation Recovery Services, Inc. ("UMAIRS"), a New York corporation, is engaged in the recovery efforts of "Uninsured Motorist" claims on behalf of New York State's Motor Vehicle Accident Indemnification Corporation ("MVAIC") as well as reporting to Albany Department of Motor Vehicles their investigations. MVAIC indemnifies New York State residents who are victims of uninsured motor vehicle accidents occurring in New York State. After paying qualified claims, MVAIC seeks to recover from the uninsured parties. MVAIC has engaged and empowered UMAIRS to pursue claims on its behalf. The founders of UMAIRS have a long-standing history and experience in the industry. UMAIRS generally takes a strategic approach to the recovery effort as it has a set of powerful legal tools at the disposal to boost recovery effectiveness. UMAIRS also applies a "win-win" approach that encourages cooperation with the uninsured owners and/or operators to make payment in full or to formulate a repayment plan.
Safe Harbor: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Redijet, Inc. and Uninsured Motorist Asset Investigation Recovery Services, Inc. are "forward-looking statements." You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Contact Information:
Robert Remolador
Chief Executive Officer
Redijet, Inc.
6 Palm Court
Selden, NY 11784
robert@umairco.com