Techalt, Inc. (OTC: TCLT) recently announced that it has come to an agreement and plan of merger with EV Parts, Inc. As a result of the merger, EV Parts will become a wholly-owned subsidiary of the company. EV Parts, Inc. is a leading online supplier of electric vehicle parts and components. Techalt, Inc. was up 500.00% on Tuesday.
Within the terms of the merger agreement, the shareholders of EV Parts will exchange 100% of their stocks for shares of Techalt. Techalt will be rendering EV Parts with $300,000 for working capital, which is necessary for the merger to close by the deadline of March 18, 2008, and has offered to provide EV Parts with an additional $300,000 by May 19, 2008.
Dave Moore, Techalt’s President stated, “We are very excited about building our corporate portfolio with this cutting edge alternative ‘green’ company. EV Parts has influence and much respect in the alternative energy/automotive sector. EV Parts has successfully demonstrated its technology in the marketplace.”
As one of the first companies in the custom electric vehicle world, EV Parts has become one of the largest online suppliers of parts and components to the electric vehicle market. The company has already begun to sell their products in the robotic/electrathon, industrial, personal mobility, marine/RV, and renewable energy markets. They have become a well respected and dependable source of eclectic vehicle parts and components as they continue to grow its market share and expand their reach into additional markets through targeted marketing and sales efforts.
Techalt, Inc. works on securing wireless communications toolsets to be used by emergency first responders in the public sector, and for communications interoperability, multi-level integration of communications, and collaboration enhancement within public and private sectors.
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