TOLLAND, Conn., May 16, 2017 /PRNewswire/ -- Lot 78, Inc. (OTCPink: LOTE), announces that it has submitted a response for proposal for a $5MM of Electric Vehicle Supply Equipment and Related Services with the National Joint Powers Alliance (NJPA).
LOTE CEO David Schmid, "We are starting to see more requests for proposal such as the National Joint Powers Alliance request. As with this specific request for proposal, we are seeing that multiple vendors may be awarded pieces of these projects. We believe that this allows us a level playing field to compete with larger companies."
The NJPA is a public agency serving as a national municipal contracting agency established under the Service Cooperative statute by Minnesota Legislative Statute with the authority to develop and offer, among other services, cooperative procurement services to its membership. Eligible membership and participation includes states, cities, counties, all government agencies, both public and non-public educational agencies, colleges, universities and non-profit organizations. NJPA currently serves over 50,000 member agencies nationally. Both membership and utilization of NJPA contracts continue to expand, due in part to the increasing acceptance of Cooperative Purchasing throughout the government and education communities nationally.
ABOUT LOT 78, INC. The Company was incorporated in the State of Nevada on June 27, 2008. On March 14, 2011, the Company filed a Certificate of Amendment with the Secretary of State of Nevada changing the name of the Company to "Bold Energy, Inc." On November 12, 2012, the Company, then under the name Bold Energy, Inc., entered into a Share Exchange Agreement with Anio Limited a limited liability company established under the laws of the United Kingdom ("Anio Ltd."), which conducts its primary line of business under the name Lot78, Inc., the shareholders of Anio Ltd., and the controlling stockholders of the Company. The company changed names to Lot78, Inc. on January 31, 2013. On July 15, 2016, the Company entered into a Letter of Intent to merge with Compound Holdings, LLC, a Connecticut limited liability company. Subsequently, on July 18, 2016, the Company and Compound Holdings LLC entered into a definitive Agreement and Plan of Merger. Pursuant to the plan of merger, upon closing, the Company intends to change its name to Compound Holdings, Inc.
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SOURCE Lot 78, Inc.