Coda Octopus Group, Inc. Announces Acquisition of Coda Octopus Ltd.NORTH SALEM North Salem is the name of several towns in the United States:
CDOC Combined Defense Operations Center CDOC Chromomorphic Dissolved Organic Carbon CDOC Counter-Drug Operations Center CDOC Continuing Demonstration Of Capability ) formerly The Panda Project See Archistrat computer. , Inc., announces the acquisition of Coda Octopus Ltd., based in Edinburgh, Scotland, from Fairwater fair·wa·ter n. Nautical 1. A device used to fair the lines of an underwater fitting. 2. The bridge and conning tower on a submarine. Technologies Group Ltd. The Panda Project merged into Coda Octopus Group, Inc., a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. , simultaneously undergoing a reverse capitalization of 300:1 and the acquisition of Coda Octopus Ltd. for 20,050,000 shares of Coda Octopus Group, Inc.'s common stock. Coda Octopus Ltd. is recognized internationally as a specialist in underwater hardware and software technologies for imaging, survey and automating mapping tasks in unmanned underwater vehicles as well as a leading supplier of custom geophysical survey Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. solutions. Coda Octopus Ltd. was created by the acquisition of Octopus Marine Systems in 2002. Coda Octopus Ltd. systems are in service with leading survey companies, international academic and research institutes, navies and defense organizations around the world. Coda Octopus Ltd. provides a unique combination of innovative technologies and skills to a worldwide client base. Coda Octopus Ltd. acquired Omnitech A/S of Norway in 2003, adding the unique and leading edge 3-D "Echoscope" sonar product line which is generating much interest in maritime homeland security in the US and around the world. Jason Reid, President of the parent company and managing director of Coda Octopus Ltd. stated: "By moving our parent company to the United States and having our common stock trade on an American marketplace, we can better serve our U. S. clients and grow our company substantially." Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, perceived or actual benefits and market acceptance of CodaOctopus' planned products and their level of sales, the competitive environment and successful technical and economic implementation. |
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