Radioio, Inc. acquired substantially all of the assets of Crowdstream Inc. for $0.11 million.
April 29, 2014 at 12:00 am EDT
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Radioio, Inc. (OTCPK:RAIO) acquired substantially all of the assets of Crowdstream Inc. for $0.11 million on April 29, 2014. The purchase price consisted of aggregate cash payments of $0.05 million and 86,456 shares of Radioio common stock. The amount of $0.03 million shall be paid on closing and the amount of $0.03 million shall be paid on or before 180 days after the closing. The Boards of Directors of Radioio and Crowdstream have approved the deal. The transaction was subject to the stockholders of Crowdstream authorizing and approving this agreement. Sarah Wilson of DigiPowers, Inc. acted as public relations advisor for Radioio. Paul T. Colella of Giordano, Halleran & Ciesla, P.C. acted as legal advisor for Radioio. Amy Bason of Selverne & Co, PLLC acted as legal advisor for Crowdstream.
Radioio, Inc. (OTCPK:RAIO) completed the acquisition of substantially all of the assets of Crowdstream Inc. on April 29, 2014. The asset purchase agreement was subsequently amended on June 11, 2014 to reduce the amount of the aggregate cash payments to $42,500. $17,500 of the cash portion is to be paid within six months from closing date.
RadioIO, Inc. offers music solution for franchise businesses of various sizes, such as restaurant chains, retailers and corporations. The Company is engaged in providing Internet radio platform services that stream music on connected devices. Its products include IO Music Player, IO Music Stream, IO Music 4 Speaker System, IO Music 6 Speaker System, IO Music 4 Complete Package and IO Music 6 Complete Package. It offers business solutions to restaurants, such as quick service restaurants (QSRs) and fast casual, Italian restaurants, barbecue (BBQ) restaurants, Latin restaurants, Mexican restaurants and coffee houses; retail, such as fashion stores, sporting goods stores and drug stores; healthcare; spa and wellness, such as beauty, meditate and sleep; yoga and wellness, such as power, restore and sacred chant; hospitality; small business; banking, and brokerage. Its Internet streaming music and messaging service supports consumers and businesses with streaming music and talk services.
RADIOIO, INC. 
