Xiom Corp. (OTC: XMCP) has revised their Letter of Intent to acquire 100% interest of Equisol LLC, located in West Conshohoken, PA. Pursuant to the revised Letter of Intent, Xiom will acquire 100% of the interests of Equisol LLC for the issuance of 40% of the total issued and outstanding shares of Xiom Corp. The previous LOI anticipated a purchase price that consisted of 65% of Xiom common stock and $1.5 million in cash and a note. The revised LOI states that all proceeds are to be used for working capital and growth of operations as is not contained in the final drafts of the Closing Documents.
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About Xiom Corp.
Xiom Corp. is a technology business offering delivery of plastic powder coatings at on-site locations utilizing the XIOM 1000 System. Powder coating currently is a process in which metal parts are brought into a factory environment where they are cleaned and prepared to receive a powder coating. Plastic in powder form is then applied to the various metal parts by means of an electrostatic charge that causes the powder to adhere to the surface. The coated part is then heated in an oven for a period of time to cause the plastic to melt and adhere to the substrate. Although we use plastic powder, we do not electro-statically charge that powder in order for it to adhere to a substrate.
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