Acquired Sales Corp. looks to acquire three companies

LAKE FOREST - -Acquired Sales Corp. recently signed a letter of intent with H. Warren Moon, David C. Meltzer and Sports 1 Marketing LLC of Irvine, California, to acquire Aggregated Marketing Platform Inc., Processing for a Cause Inc. and a related management company.

AMP plans to aggregate virtual gifting programs with traditional TV, radio, billboards, stadium screens and other marketing media using patent-pending software, and is in negotiations with several professional sports teams to launch its aggregated marketing platform starting next month. PFAC plans to market credit card processing programs designed to benefit not-for-profit entities. AMP and PFAC were both launched by Sports 1 Marketing in January.

The proposed acquisitions will include up to $200,000 in cash consideration, and stock consideration of 7 million shares and options to purchase 5 million shares of common stock of Acquired Sales. Up to 71 percent of shares will be cancelled if certain consolidated pre-tax income milestones are not met by December 31, 2019, and up to 100 percent of such options will be cancelled if those consolidated pre-tax income milestones are not met by December 31, 2026.

Following the acquisitions, H. Warren Moon and Gerard M. Jacobs will serve as Co-Chairmen of Acquired Sales, and David C. Meltzer and Gerard M. Jacobs will serve as Co-CEOs of Acquired Sales.

Closing of the acquisitions is subject to a number of conditions, including the completion of mutually acceptable due diligence, delivery of audited financial statements, completion of a capital raise of at least $4.5 million, execution of definitive acquisition documents, obtaining necessary third party approvals, and completion of all necessary securities filings.

"We believe that Warren Moon and Dave Meltzer's vision for aggregated online and traditional marketing, starting with virtual gifting program nights at major professional sports and entertainment events, has the potential to disrupt the marketing industry," said Gerard M. Jacobs, chairman and CEO of Acquired Sales. "Acquired Sales is excited to partner with Warren and Dave, and to benefit from their years of experience and contacts."