MIAMI, Florida, December 18, 2018 -9:00am/OTC Disclosure & News Service - SEAMLESS Technology Inc (OTCPINK: SLSX), a Nevada corporation (“Seamless” and/or the “Company”) announced today the following corporate actions:
On September 24, 2018 the completed a reverse merger and recapitalization agreement with HUBB UCS, Inc. (“HUBB UCS”), a private Florida incorporated company, in which HUBB became a wholly owned subsidiary of the Company. Management of the company anticipates changing the name of the company to HUBB Ventures, Inc and its symbol to HUBV. The reverse merger was completed pursuant to an exchange of shares. Concurrently with the closing of the merger, the Company proceeded to effect a reverse stock split of the Company’s common stock at a ratio of 1 for 50, such ratio resultant in the company’s existing 88,089,867 shares of common stock outstanding to be reduced to 1,761,798 shares of common stock. The reverse split is currently in process of filing with the State of Nevada and FINRA for approval and management anticipates completion by the end of the month. The Company’s management team consist of Chief Executive Officer and President Jose F. Matto, Chief Growth Officer Abdellatif Bedier and Secretary and Vice President Borys Rafalowicz.
Additionally, the Company completed an initial closing of 13 units in a private offering, at a price of $5,000.00 per Unit plus additional stock sales resulting in aggregate proceeds of $90,000. Most of the units were sold by the Company in anticipation of the merger. Each Unit represents ownership of 1% of the Company which equals as follows: (i) 70,471 common stock shares; and (ii) 5,000 shares of the Company’s Series A Preferred Stock, to be issued upon consummation of a planned merger with HUBB.
The merger also resulted in changes to the Board of Directors and its officers.
Jose F. Mattos, the Company’s new Chief Executive Officer and President stated “We are extremely excited for the future of the Company soon to be named HUBB Ventures. As we expand the value of the public company, we will have the unique ability to tell the HUBB technology story and access capital in a much more efficient manner.”
Founder and Chairman Borys Rafalowicz added “Jose was a former technology officer of the Company and he brings decades of experience to the Company and a proven record of strong leadership in the technology and cloud market. We couldn’t be happier with Jose joining our family and helping us and our customers achieve continued success.”
HUBB UCS was founded in 2017 and its business model is building, enhancing and commercializing applications services used by Fortune 500 Companies for Small Business. Focusing on the delivering of Innovation Technology Solutions to business, industry, and government by providing access to the array of integrated application solutions for the micro, small to medium business and government markets in the Small Enterprise Resource PlatformSERP :
Unaudited financial information for HUBB UCS as of September 30, 2018 are:
|INCOME STATEMENT||Nine months to 09/30/2018|
|GROSS REVENUE||$ 258,809|
|TOTAL OPERATING EXPENSES||-299,212|
|PRO-FORMA BALANCE SHEET||09/30/2018|
|CURRENT ASSETS||$ 115,776|
|TOTAL ASSETS||$ 115,776|
|TOTAL LIABILITIES||$ 104,198|
|SHAREHOLDERS EQUITY||$ 11,579|
Today HUBB UCS employs 5 full-time and 4 part-time employees, 6 contractors and 9 salesmen on commission.
Seamless Technology is a diversified publicly traded holding company listed on OTC markets. Seamless is focused on the acquisition, development and operating of Internet based technology companies. It presently owns two established technology companies with excellent industry name recognition and reputations. The Company has located other synergistic businesses that it intends to acquire soon, subject to completion of financing. Please visit www.hubv.net & www.hubbucs.com for further information.
Safe Harbor Statement
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forwardlooking statements for many reasons including: our ability to continue as a going concern; adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs; customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and OTC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law
Tel: 305-528-0800[email protected]
For more info please see