Dr Sunil Shukla, director, EDII
, said, 'For many years, EDII
has been mentoring and supporting start-ups, especially those founded by alumni of our institute.
) announced today that EDII
and its subsidiary companies, Texas Real Estate Enterprises Inc.
) today announced that a non-binding letter of intent has been signed between EDII
and the owners of Dawson Marine Inc.
The consideration was paid to EDII
with restricted common stock, which gave EDII
an approximate 90% stake in UCCC.
After the sale, EDII
owns 92% of all outstanding shares of UCCC.
Stump III, chief financial officer of EDII
stated that "The company continues to be current under the reporting requirements of the Exchange Act.
Daniel Dror, chairman and CEO of EDII
stated that "EDII
is current under the Exchange Act requirements and has now been approved by the NASD to have EDII
shares again quoted on the OTC: Bulletin Board.