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Subsequent Event
9 Months Ended
Sep. 30, 2025
Subsequent Event  
Subsequent Event

NOTE 11 – SUBSEQUENT EVENT

 

On October 16th, 2025, the Company acquired all of the service contracts of Opsec Specialized Protections, Inc. along with its work force and certain intangible assets, for a purchase price of $650.000 paid in cash, and additional terms set forth below.

 

Pursuant to a consulting agreement with the Seller, the principal shareholder/CEO of the Seller will continue to work in the business over six months at a salary of $50,000 per month.  

 

Provided at least 80% of the current active security services accounts of the business acquired by the Company are in the aggregate providing the same level of income per month or more than they provided at closing, the Company will pay the Seller an additional Performance Bonus of One Hundred Fifty Thousand Dollars ($150,000.00).   Total revenues for the month of September, 2025, from service contracts, the month proceeding the closing, totaled approximately $799,000, and cash expenses for the month totaled approximately $604,000.  80% revenues from service contracts equaled approximately $639,000 in the month of October.

 

The Company also entered a six-month lease with Fred Porras, the majority shareholder of the Seller, to rent Mr. Porras’ office space where the Seller’s business was located, at a rental rate of Five Thousand Five Hundred Dollars ($5,500.00) per month, on a triple net basis.  Almost all liabilities of the business were retained by Seller and not assumed by the Company.