ASSURED EQUITIES IV CORPORATION ACQUIRES THE UIFL

[tim2gehr]

theuifl.com/archives/1451

FORT MYERS, FL - Michael Taylor and Andrew Haines are pleased to announce the acquisition of the Ultimate Indoor Football League by Assured Equities IV.Assured Equities takes over control of the UIFL effective June 15, 2011. As part of the acquisition UIFL Co-Founder Andrew Haines will remain as League President and a member of the Board of Directors, UIFL Co-Founder Michael Taylor will continue as a consultant and a member of the Board of Directors for Assured Equities.

“Michael and Andrew have done a great job launching the UIFL. The league’s business model is the best I’ve seen and we look forward to growing the league smart, and with a similar vision to what Michael and Andrew have established.” Said Rodney Day Vice President of Acquisitions for Assured Equities

“The acquisition will allow Andrew and I to focus on our other business interests, including our UIFL team the Florida Tarpons. We look forward to working with Assured Equities in continuing our vision of the UIFL for long term success.” Stated UIFL Co-Founder Michael Taylor

Under the leadership of Michael Taylor and Andrew Haines the UIFL exhibited success both on the field and in the front office. The UIFL played all scheduled games, all teams completed the season, no replacement teams were used. This acquisition will position the UIFL for future growth and success.

“I’m excited about the success we had in the 2011 season, and look forward to continuing the success of the UIFL in my role as League President. It was important for Michael and I that the new ownership of the UIFL share a similar vision. I truly feel that the UIFL has the best business model in all of indoor and arena football.” Said UIFL Co-Founder Andrew Haines

For more information about the Ultimate Indoor Football League visit the league website at www.theuifl.com or call 877-500-UIFL (8435). The UIFL recently finished the 2011 season with all six original teams – Canton, OH, Johnstown, PA, Huntington, WV, Pikeville, KY, Highland Heights, KY, and Saginaw MI. The UIFL will grow into a 12-16 team league for the 2012 season and will play with 2 divisions (Northern and Southern). The 2012 season is expected to be announced in October.

[Banana Cat]

Haines is now setup in Florida. With a house and money in the bank, he's secure for awhile. Let the mess of next season begin!

[exit322]

biz.yahoo.com/e/110105/14472568-k.html

This was actually done in December.

Entry into a Material Definitive Agreement



ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On December 24, 2010, Andrew Haines and Michael Taylor (jointly known as the "Sellers") entered into an Asset Purchase Agreement (the "Agreement") with Assured Equities IV Corporation, a State of Florida corporation (the "Buyer"), whereby Buyer agreed to purchase from Seller at the closing and Seller agreed to sell to Buyer at the closing all of the outstanding capital stock including rights, title and interest in and to the Ultimate Indoor Football League, LLC ("UIFL"), a domestic Limited Liability Company organized under the laws of and active with the State of Ohio, for a total purchase price of one million four hundred fifty thousand and 00/100 US dollars ($1,450,000.00) (the "Purchase Price").

Buyer shall pay seller a payment of fifty thousand and 00/100 US dollars ($50,000.00) by January 10, 2011 with a Promissory Note for six hundred fifty thousand and 00/100 US Dollars ($650,000.00) bearing interest at 5% annually and which is convertible into six hundred fifty thousand (650,000) shares of 5% Preferred Stock of Assured Equities IV Corporation, such Preferred Stock having a par value of $1.00 per share and four hundred fifty thousand and 00/100 US Dollars ($450,000.00) in cash at closing.

In addition:

1. Buyer and Sellers will enter into a Consulting Agreement for a period of five years payable at sixty thousand and 00/100 US Dollars ($60,000.00) per year payable quarterly with the first payment to be paid within 45 days from the closing date, and

2. Andrew Haines will be given an Employment Contract for a period of fifteen months (15) at an annual salary of eighty four thousand and 00/100 US Dollars ($84,000.00) plus a fifteen percent (15%) commission on league sponsorships and league territory sales he generates, and

3. The Sellers will have the right to appoint two members to the Board of Directors of Buyer at the first meeting of the Shareholders of Buyer after the closing date, and

4. Sellers will have the option to acquire four (4) team territories without having to pay a territory fee.

The Agreement is scheduled to close on or before the 90th day from December 24, 2010.

EXHIBITS

Exhibit No. Description

10.01 Asset Purchase Agreement dated December 24, 2010 between Andrew Haines and Michael Taylor (Sellers) and Assured Equities IV Corporation (Buyer).

[exit322]

By the looks of things, Haines done good.

[Banana Cat]

Nice link.

Yes, he's going to enjoy Florida now.

[exit322]

Now, if this means Haines is by and large out of controlling the UIFL, it could mean success is possible with this expansion. We'll see, though. You've got to be somewhat skeptical.

[Banana Cat]

Count me in the category of thinking expanding to 12-16 teams (their plan) in year two is a bad idea (too much too soon...has never ended well for any indoor league, won't change now).

[gusher]

It all depends on the owners, good owners = good expansion plan.

[Banana Cat]

Jumping from 5 to possibly 16 teams...hmmm....11 good owners in an expansion year...that'd be a first.