Acquired Sales Corp. Agrees to Sell Cogility

  Acquired Sales Corp. Agrees to Sell Cogility

Business Wire

LAKE FOREST, Ill. -- January 17, 2013

Acquired Sales Corp. (OTCQB: AQSP) announced that it has entered into a
definitive Stock Purchase Agreement to sell its subsidiary Cogility Software
Corporation ("Cogility") to privately held Drumright Group, LLC. The sale,
which is subject to certain conditions set forth in the Stock Purchase
Agreement, is expected to close on or about February 11, 2013.

As the sale consideration, Acquired Sales Corp. expects to receive three cash
payments: an amount equal to $4,000,000 less the aggregate liabilities of
Cogility on the closing date; $1,500,000 on the six month anniversary of the
closing date subject to a possible delay as set forth in the Agreement; and
$1,500,000 on the one year anniversary of the closing date.

Acquired Sales Corp. expects to be responsible for all expenses of Cogility,
and expects to collect all accounts receivable in regard to work completed by
Cogility, through January 31, 2013, with expenses and revenue transitioning to
the new owner thereafter.

Cautionary Statements Regarding Forward-Looking Information - This release may
contain forward-looking statements, including statements about Acquired Sales
Corp. and Cogility Software Corporation. These forward-looking statements
involve risks and uncertainties. No assurance can be given that the
contemplated sale described in this release will be consummated. Other factors
that may cause actual events, results or earnings to differ materially from
these forward-looking statements include those discussed in filings that
Acquired Sales Corp. makes with the U.S. Securities and Exchange Commission,
including the risk factors described in the Form 10-K which was filed with the
SEC on March 30, 2012. You are cautioned not to place undue reliance on these
statements, which speak only as of the date of this release. We undertake no
obligation to update these forward-looking statements to reflect events or
circumstances after the date of this release.

Contact:

Acquired Sales Corp. and Cogility Software Corporation
Xavier Hermosillo, 310-344–1494
AQSP.IR@gmail.com
 
Press spacebar to pause and continue. Press esc to stop.