Dun Ventures Inc., a holding company with corporate offices in Nevada, said it has completed the acquisition of a supplier of hotel video entertainment systems for an estimated $14 million in Dun Ventures' stock.
Dun Ventures bought all of the outstanding capital stock of VideoRated in exchange for the issue of 73.4 million shares of Dun Venture common stock, which is priced at 19 cents a share in over-the-counter trading, according to Vincene Baker, VideoRated's secretary-treasurer.
VideoRated's new directors are Douglas K. Baker, who also has been named company president, and Clifford Hansen, who founded VideoRated in 1985.
Dun Ventures President Keith F. Johnson and Vincene Baker also will serve on VideoRated's board of directors.
Dun Ventures said it intends to ask shareholder approval for a 1-for-10 reverse stock split and for a name change to VideoRated Inc. sometime this month.