Statement of Asset T

STATEMENT submitted by Color Broadband Communications Inc

Statement of Asset Transfer

2012-03-15

This document pretains to ITC-214-20031215-00554 for International Global Resale Authority on a International Telecommunications filing.

IBFS_ITC2142003121500554_945019

Date: March 14, 2012 Attn: Sumita Mukhoty (Counsel to FCC in International Policy) From: Fran McGrath Statement regarding: Application 214 assignment Color Broadband Communications Inc. A privately held California C corporation entered into an asset purchase agreement dated December 15, 2011 whereby substantially all of color Broadband Communications assets are to be acquired by Piratel Llc a Delaware limited liability company. Pursuant to the asset purchase agreement dated December 15, 2011 between Color Broadband and Piratel, the assets sold were including but not limited to FCC 214 license # ITC‐214‐20031215‐00554 currently held by Color Broadband Communications Inc. The agreement was executed by Francis D. McGrath CEO of Color Broadband Communications Inc. and Jay Sacks President of Piratel Llc. The agreement is scheduled to close May 30, 2012. Upon approval from the FCC, Piratel will be providing services to their newly acquired clients under the FCC license # ITC‐214‐20031215‐00554 which is currently held by Color Broadband Communications Inc. Principal Ownership of Color Broadband Communications Inc. includes the following individuals and their respective equity ownership and voting percentages: There are no institutional owners and there are no foreign entities which hold any equity or voting interest in Color Broadband. All shareholders are US citizens. Other owners hold substantially less than 10% each. Color Broadband Communications Inc. Francis D McGrath 39787 Sunrose Dr. Murrieta CA 92562 (562) 434-7646 20% Sean H. LeMons 10841 Asbury Ave. Stanton CA 90680 (714) 839-3984 20% Dale N. Hachiya 8482 Clarkdale Dr. Huntington Beach CA 92646 (714) 964-6432 23% Piratel Llc. Is held by the following individuals and their respective equity and voting percentages.There are no institutional owners and there are no foreign entities which hold any equity or voting interest in Piratel Llc. All shareholders are US citizens. Piratel Llc. Jay L Sacks 22310 Ybarra Rd. Woodland Hills CA 91364 (818) 825-2384 50% Karl M Douthit 2126 Petaluma Ave Long Beach CA 90815 (562) 824-0757 50% Following the completion of the transaction Color Broadband Communications Inc. will cease to exist pursuant to its shareholder approved plan of complete liquidation.


Document Created: 2012-03-15 11:00:26
Document Modified: 2012-03-15 11:00:26
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