Solidus Communications, Inc. completes Memorandum of Understanding with Central Florida regional WISP

Solidus Communications, Inc. (OTC:SLDC) announces the completion of the due diligence period specified in the executed letter of intent with a FL regional WISP.

Solidus Communications, Inc. (OTCBB:SLDC)

ORMOND BEACH, FLORIDA, US, August 16, 2023/EINPresswire.com/ -- Solidus Communications, Inc. (OTC PINK: SLDC)

Solidus Communications, Inc. (OTC: SLDC) announces the completion of the due diligence period specified in the executed letter of intent with a regional Wireless Internet Service Provider, (“WISP”).

SLDC and the owners of the Florida regional Wireless Internet Service Provider have come to an agreement and memorialized the deal terms in a fully executed Memorandum of Understanding.

"Solidus is committed to growth through acquisitions. The acquisition of this regional WISP gives us a strong entry point, providing a valuable commodity to the rural communities of Central Florida. ", says William Sanchez - CEO of Solidus Communications.

SLDC’s offer, based on an approximate value of the Wireless Internet Service Provider (“WISP”) on an annual revenue per dollar basis has been accepted.

A new subsidiary will be created under Solidus Communications, Inc. for the purpose of transferring the assets of the WISP.

Under the MOU terms, the existing WISP shareholders opted to keep a combined 7.5% of the new corporation.

Details of the acquisition include:
1. Annual revenues of over 1.2 million dollars
2. Over 1,000 customers
3. Approximately 1 million dollars in assets that include communication towers, vehicles, plant and assets

Solidus is currently preparing the purchase documents, looking to complete the purchase by mid-September.

Funding for the purchase will come from the Form 1A, “REG A” that the Securities and Exchange Commission (“SEC”) approved during Q1, 2023.

We are actively looking for other acquisition candidates in Florida, and welcome any and all suggestions of possible candidates.

William J Sanchez
President & CEO
Solidus Communications, Inc.
william@telcocuba.com
(305) 747 – 7647

NON-SOLICITATION:
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Any securities offered or issued in connection with the above-referenced merger and/or investment have not been registered, and will be offered pursuant to an exemption from registration.

FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," "anticipate," "estimate," "expect," "intend," and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company's filings with the SEC. The occurrence of any of these risks and uncertainties could have a material adverse effect on the company's business, financial condition, and results of operations.

Contact us at:
William J Sanchez
Chairman/CEO
william@soliduscommunications.com
(305) 747 7647 x 101
Follow on Twitter: @soldiusSLDC
Stock Symbol: SLDC
Company Website: www.soliduscommunications.com

William Sanchez
Solidus Communications, Inc.
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