On February 22, 2008, Morgan Equities Group, Inc. (MGQG.PK) entered into a non-binding letter of intent to merge with Purific of America, a privately-held Tampa based corporation which owns Master Distribution Rights in the United States. The letter of intent to merge in no way discusses the terms and conditions of the merger, and all actions are subject to a definitive agreement and the approval of the respective companies’ shareholders.
Purific of America is a Florida based company which markets and distributes Purific products through a network of regional dealers and distributors. The company already has five dealer/distributors under contract, substantial inventory in Florida and is forecasted to generate revenues approaching $6,000,000 during the first two years of operations.
Parent company, Purific of Brazil, is a ten year old Brazilian company employing more than 6,000 sales representatives serving over one million customers in South America, Europe, China and the United States. The company generates annual revenues in excess of $25 million. It is a member of the International Water Quality Association, and has proprietary manufacturing facilities in both Brazil and China.
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