OCIS Corp. and Ecology Coatings had entered into a merger agreement, which called for OCIS to acquire Ecology Coatings in a statutory merger, with Ecology Coatings becoming a wholly owned subsidiary of OCIS. On July 26, 2007, Ecology Coatings merged with OCIS and became the surviving corporation and a wholly owned subsidiary of OCIS, which then changed its name to Ecology Coatings, Inc.
“The successful completion of this transaction, coupled with Ecology Coatings’ common stock listing on the OTC Bulletin Board®, are both major milestones for us. Our listing on the OTCBB will provide us with access to new investors, new sources of capital with which to grow our company, and greatly enhance our visibility and market awareness of our outstanding line of leading-edge, clean-technology coating products,” stated Richard D. Stromback, Chairman of the Board of Directors for Ecology Coatings.
Pursuant to the terms of the merger agreement, the board of directors and executive officers of OCIS Corp. resigned and were replaced by the board and officers of Ecology Coatings, who have become the new board and executive officers of the surviving entity. The company also added David W. Morgan as President, Chief Financial Officer and Treasurer, and Tim Tanner as President of Business Development.