Hi Score Corporation’s subsidiary Green LED Technology has received another Commitment for Energy Saving Lighting from DMD Lighting.
DMD Lighting which used to be a Hi Score subsidiary was sold off earlier in 2012. However as part of the sales agreement Hi Score retains a sizable portion of DMD's net earnings. Additionally DMD has been purchasing Energy Saving Lighting from Green LED Technology for its various jobs over the past several months. Earlier today DMD notified that it had just received yet another six figure contract and that it will contract with Green LED Technology for the Energy Saving Lighting portion of the Contract.
Hi Score and Green LED President, Michael Zoyes said that "the sale of DMD at the time was a difficult decision ...it was generating revenue... but it is paying off. We still receive net earnings, we got rid of 150K of high interest debt and we still get lighting business from them. The Energy Saving Lighting Business has been and remains our core business. However in an effort to increase shareholder value, we are actively working toward acquisition of a few privately held companies. Diversifying our portfolio of companies puts the company in a position to earn profits from more than one sector. We are very close to closing a few of the deals...we are very excited about these opportunities. The key is to bring competent, cost effective management on board with each acquisition."