Mumbai: Universal Capital Management, a publicly traded venture capital company that provides emerging growth companies with management and strategic resources for successful growth, announced that it has signed a new management agreement with its portfolio company Sivoo to provide investor relations and management services to Sivoo.
The agreement provides, among other things, that UCM will provide Sivoo with services related to Sivoo’s Form 10 registration statement that Sivoo expects to file with the SEC in the near future. Upon the SEC’s final review of this filing, Sivoo will be eligible to apply for trading on the Over-the-counter Bulletin Board as a fully reporting company.
"Sivoo is one of Universal’s largest portfolio company holdings," said Universal president and CEO Michael D. Queen, "and we believe that facilitating Sivoo’s move the Bulletin Board as a fully reporting company is the single most valuable contribution we can make to their long-term success at this time."
Sivoo president and COO Chris Myers added, "This new agreement with Universal allows our management to focus more on operations and sales at a time when we are within striking distance of break-even, which we believe will ultimately add value for SIVOO and our shareholders."