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Article Excerpt
CLEARWATER, Fla. -- On December 3, 2008, OmniReliant Holdings, Inc. ("OmniReliant") (OTCBB:ORHI) entered into a securities purchase agreement (the "Purchase Agreement") with Abazias, Inc. ("Abazias") (OTCBB:ABZA), a Delaware corporation and Abazias.com, Inc., ("Abazias Sub"), a Nevada corporation and wholly owned subsidiary of Abazias, pursuant to which OmniReliant purchased substantially all of the assets of Abazias Sub for an aggregate purchase price of: (i) a loan in the amount of Five Hundred Thousand Dollars ($500,000) (the "Loan") and; (ii) the issuance of up to...
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