Sector 10, Inc. announced this morning that a reverse stock split restructuring was approved in order to pursue an acquisition and growth strategy designed to increase shareholder value and establish the company as the premier provider in the emergency response market. The reverse stock split is anticipated to provide more flexibility in future acquisition negotiations. The acquisition strategy provides for a structured deferred payment with common stock and/or cash to minimize potential dilution to current shareholders.
Sector 10, Inc. also announced that it has entered into a Letter of Intent with Fairhaven International LLC to purchase the Operational Readiness, Command & Administration System (ORCAS) and related intellectual property rights for use in worldwide monitoring of Sector 10 sites. This system was designed to meet the demand for a simplified system capable of monitoring emergency incidents and events around the world. ORCAS is currently used by several agencies for monitoring these types of situations, and will be used in conjunction with Sector 10â€™s patented Emergency Stationary Response Units (SRU).
President of Fairhaven International LLC stated, â€œThe use of ORCAS as a worldwide monitoring system will enhance the capability of responders to immediately know when a system has been activated.â€ Sector 10 CEO, Pericles DeAvila, commented, â€œSector 10 is committed to bringing all systems online that enhance our SRU lines of business, which by extension help saves lives and property.â€
Sector 10, Inc. is also performing due diligence on other acquisition candidates that provide synergistic products and established sales channels. The company is currently working on a number of prospects and anticipates making further announcements in the coming weeks regarding the signing of additional Letters of Intent.
For almost two years, Sector 10 has been positioning itself in the market with a line of unique products developed with the purpose of bringing together emergency products, hardware, software, security and an integrated communications system to stand alone in the emergency response market as a true pre-deployed system to save lives the instant a disaster happens.
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