SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2014

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

17.          SUBSEQUENT EVENTS

Management has reviewed for subsequent events and identified the following:

On January 2, 2015, pursuant to board service agreements, two board members received 2,500 shares of common stock each. These 5,000 shares were expensed at their grant date fair value of $36,300.

Effective January 5, 2015, CUI Global began operations of Orbital Gas Systems, North America in Houston, Texas to represent the company gas segment in North America. In conjunction with this, the Company entered into a three year lease for our Houston facility.

Also on January 5, 2015, the employee hired as Director of Sales and Marketing for Orbital Gas Systems, North America, was granted a signing bonus of 17,655 shares of common stock which were expensed at their grant date fair value of $125,000.

On March 2, 2015, 10,000 shares of common stock were issued, with a grant date fair value of $62,600, to a consultant pursuant to an agreement for strategic investor marketing services to be rendered for the benefit of the company through July 1, 2016.

 

Effective March 6, 2015, CUI Global agreed to acquire specific assets of the privately held Canadian equipment manufacturer Tectrol, Inc., a leading designer and manufacturer of standard and custom power solutions. CUI Global agreed to purchase the assets of Tectrol for $5.2 million subject to final closing adjustments. In addition, CUI entered into a five year lease of the former Tectrol facility.