SARASOTA, FL--(Marketwired - Aug 1, 2016) - Kali, Inc. (
Kali acquired all of the outstanding stock of Florida Marine Power in exchange for 4 million shares of Kali's common stock. The transaction also created a performance incentive program for Florida Marine Power to earn additional shares of stock for the next two years if the Company achieves quarter over quarter revenue increases.
"The acquisition of Florida Marine Power will accelerate our revenue generation and provide value to our shareholders. The combination of Wave Marine & Yacht Services and Florida Marine Power will strengthen our value proposition to our customers as we build a portfolio of companies to service the recreational boating lifestyle," stated Charles Yawn, CEO of Kali, Inc.
About Kali, Inc.
Kali, Inc. is a marketing and development company focused on small to medium sized market cap companies. Wave Marine & Yacht Services. a wholly subsidiary, of Kali, Inc., is a full-service yacht maintenance company which provides solutions for all aspects of the recreational boating lifestyle.
Forward-Looking Statements -- This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and Kali, Inc undertakes no obligation to update such statements.