new business acquisition - $50k deposit paid

Another excellent part of the quarterly report was the announcement that a $50K deposit had been paid on a new business acquisition. PHG has provided no details of the new busines so its probably still subject to due diligence. But there appears to be a contract that binds the seller. Announcement any day?

This is excellent for several reasons. It shows:

1. PHG is back in growth mode after a period of turbulence and consolidation.

2. PHG is competitive in the acquisitions market....good sign for the future.

3. PHG has the respect of the capital markets....no doubt they have already lined finance for the acquisition.