City Capital Corp.

• Public
• US

Dow Jones Description

The Company was incorporated on July 24, 1984, in Nevada as Diversified Ventures, Ltd. On March 27, 1987, the name was changed to M.V.I.D. International Corporation. On April 6, 1994, the name was changed to Micro-Lite Television. Prior to March 14, 1994, the Company sold an automobile anti-theft protection system to customers through an arrangement with dealerships, principally in New Jersey. On March 16, 1994, the Company acquired the assets and liabilities of Marrco Communications, Inc. ("Marrco"). The former President of the Company assumed the prior business operations. Marrco was founded on December 12, 1991, for purposes of accumulating Wireless Cable Rights in domestic markets. On March 14, 1994, in accordance with the terms of a certain Purchase Agreement dated as of March 14, 1994, by and between the Company and Marrco, 6,500,000 shares of the Company's common stock were issued to Marrco or its nominees in consideration of Marrco's sale, assignment and transfer to the Company of all rights, title and interest of Marrco in and to all inventory, contract rights, license rights, accounts, furniture, equipment, goods, documents, instruments, money, marketable securities and all intangible assets of every kind and description of Marrco, without exception, subject to the assumption by the Company of all debts and liabilities of Marrco.

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