The myFreightWorld.com division www.myFreightWorld.com of Anything Brands Online (Pinksheets: ANYT) announced today the completion of a Definitive Agreement, giving myFreightWorld exclusive rights to acquire Cheap Online Shipping.com, LLC (Nevada) www.CheapOnlineShipping.com.
J. Michael Head, CEO of Anything Brands Online and MyFreightWorld, stated that terms and conditions for acquisition are based on a 12-month performance term. CheapOnlineShipping.com must achieve minimum revenues of $5 million during the term in order to receive compensation of one million restricted shares of Anything Brands Online and a $100,000 cash-deferred payment to the partners of CheapOnlineShipping.com. Revenues exceeding $10 million with significant profit margins will create an additional one million restricted shares for the partners of CheapOnlineShipping.com.
“Mr. Head and I both believe that the performance-based structure of this agreement is best for our shareholders. My partners and I are confident that results for CheapOnlineShipping.com will certainly provide for completion, and we are very pleased with the built-in incentive myFreightWorld has provided,” said Doug Adair, founder of CheapOnlineShipping.com.
“I have known Doug Adair for more than 30 years, and together we have many mutual friends that are some of the most successful people in this industry. His Rolodex of contacts is second to none, and the opportunities he has introduced in the last few months could very well prove to be landmark projects for the enterprise. The value of the entire COS team is something I am very proud of,” said Head.
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