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14. SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2015
Subsequent Events [Abstract]  
14. SUBSEQUENT EVENTS

On November 16, 2015, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”), dated as of November 13, 2015, with Eagle Ridge Landfill, LLC, an Ohio limited liability company (the “Seller”), which owns and operates a landfill and waste hauling business located in Bowling Green, MO. Per the terms of the Purchase Agreement, the Company will purchase the land and substantially all the assets of the Seller used in operation of its business for $9,506,500.00. Consummation of the acquisition is subject to customary closing conditions, including, among others, the absence of certain legal impediments to the consummation of the acquisition.

 

Effective October 16, 2015, the Company entered into an Amended and Restated Membership Interest Purchase Agreement (“MIPA”) with Timothy M. Drury, Christian Disposal, LLC, a Missouri limited liability company, and FWCD, LLC, a Missouri limited liability company wholly-owned by Christian Disposal, LLC. Christian Disposal, LLC and FWCD, LLC own and operate a solid waste collection, transportation and disposal business located in Winfield, Missouri. Per the terms of the agreement, the Company will purchase one hundred percent (100%) of the membership interests of the company, for $13,000,000 in cash and, subject to working capital adjustments, $2,000,000 in restricted common stock and other earn out considerations. Consummation of the acquisition is subject to customary closing conditions, including, among others, and the absence of certain legal impediments to the consummation of the acquisition.