Quad M Solutions Inc. Signs Letter of Intent to assign 800 employees staffing contracts for $5-7 million
Company believes deal assignment will close by year end
Garland, TX, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Quad M Solutions Inc. (OTCPK:MMMM) has executed a letter of intent to assign 800 employees contracts to a well funded Reinsurance company for the cash value of approximately $5-7 million.
Mr Joseph Frontiere, CEO, said “ Recently we were approached by several entities inquiring to purchase staffing contracts for approximately $8,000/contract. We have gone through a thorough due diligence review by a well funded, US Reinsurance company and signed a letter of intent. I expect the deal to close by year end. These contracts are among our earliest employee contracts and have not seen price increases in several years. If we value our remaining contracts at the same price for which we are assigning those contracts, our remaining book of business would be valued at approximately $8 million per thousand employees which we believe will increase going into next year based on price increases. We are also going to receive additional revenue flow from the use of our monitoring technology. We are very excited to be able to monetize our earliest contracts in this deal.”
About Quad M Solutions, Inc.
Quad M Solutions, Inc., is a public holding company that offers self-funded health plans, staffing services, HR-human resources, payroll services, retirement, supplemental and workers compensation insurance to small and mid-sized group employers with 1-500 employees, and to the exploding essential worker "Gig Economy," a labor market that is characterized by the prevalence of short-term contracts or freelance work, not permanent jobs. Our Company's four subsidiaries, NuAxess 2, Inc., PrimeAxess, Inc., OpenAxess, Inc. and PrimeAxess 2, LLC are important in conveying who we are and what we do.
We strive to provide those employers and individuals the right tools to be able to manage and control all the facets in their healthcare experience and their eventual health outcomes. Prevention, wellness, and cures have become part of our corporate mission to individuals who want to manage and control their short and long-term healthcare needs.
Our self-insured programs are consumer-driven and technology-leveraged and, by itself, self-insurance is affordable, transparent and responsive to the healthcare and retirement needs of employees who are looking for higher quality benefits, integrated health information and better medical provider access and outcomes.
For additional information, please visit: NuAxess.com.
The statements contained herein that are not historical facts are forward-looking statements within the meaning of the federal securities laws (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). You can identify such forward-looking statements by the words "expects," "intends," "plans," "projects," "believes," "estimates," "likely," "possibly," "probably," "goal," "opportunity," "objective," "target," "assume," "outlook," "guidance," "predicts," "appears," "indicator" and similar expressions. Forward-looking statements involve a number of risks and uncertainties. In the normal course of business, Quad M Solutions, in an effort to help keep our stockholders and the public informed about our operations, may from time to time issue such forward-looking statements, either orally or in writing. Generally, these statements relate to business plans or strategies, projected or anticipated benefits or other consequences of such plans or strategies, or projections involving anticipated revenues, earnings, profits, pricing, operating expenses or other aspects of operating results. We base the forward-looking statements on our expectations, estimates, and projections at the time such statements are made. These statements are not guarantees of future performance and involve risks and uncertainties that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements.
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