Atlanta, May 30, 2018 (GLOBE NEWSWIRE) -- Incumaker, Inc. (OTC Pink: QMKR) provided a shareholder update on the progress of the Agreement and Plan of Merger with uBid Holdings Inc. (“UBID”). As previously announced, UBID would merge with and into Incumaker and Incumaker would be the surviving corporation. Under this Alternative Public Offering, or “APO” transaction, shareholders of UBID would own 90% of the issued and outstanding shares of the newly combined company. Incumaker will seek to change its name to “uBid Holdings Inc.” as well as its ticker symbol post-merger to better reflect the company’s new technology related business model. Under the terms of the merger agreement, UBID’s current officers and directors would become the officers and directors of the newly combined company.
Ketan Thakker, UBID’s Chief Executive Officer, stated: “Due to the complexity and the magnitude of this type of merger, the financial audit is taking a bit longer to complete than anticipated. Accordingly, both companies have mutually agreed to extend the merger timeline through July.”
About uBid Holdings, Inc.
uBid Holdings, Inc. (“uBid” or the “Company”) is an e-commerce company focused on operating a growing number of online auction and bargain-sale e-commerce marketplaces offering thousands of products to both consumers and businesses. uBid provides a unique shopping experience that offers buyers the opportunity to either set their own prices or receive competitive fixed prices on popular, brand name products at a significant discount to prices found at bricks-and-mortar stores and large internet retailers. The Company’s online marketplaces provide manufacturers, retailers, distributors and other suppliers with an efficient and economical channel for maximizing revenue on their merchandise while at the same time moving new, overstock, close-out and recertified products and providing consumers and businesses with a convenient method for obtaining this merchandise virtually anytime and anywhere at substantial savings. uBid currently operates through its internet site, uBid.com, which the Company’s management believes was one of the first and remains one of the most recognized names among auction sites and currently features a rotating selection of computer products, consumer electronics, watches, jewelry and gifts, sporting goods, collectibles, home goods, travel and fashion products, which typically sell at significant discounts to prices found through traditional retailers. The Company operates its online auction and bargain-sale marketplace 24 hours a day, seven days a week, 365 days a year, currently offering unique merchandise on its sites.
About Incumaker
Incumaker, Inc. (QMKR: OTC PINK) is a diversified holding company whose strategic plan is to acquire interests in young businesses, and provide financing, advice and guidance to assist them in realizing their potential. Incumaker continues to identify and evaluate other potential acquisitions to create shareholder value and return. Additional information about Incumaker is available in its filings on otcmarkets.com. For additional information please email Incumaker@gmail.com.
