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by Stockwatch Business Reporter

The TSX Venture Exchange added a fraction to 669.63 Wednesday. Michael Kraft's halted NEX shell, HTN Inc. (HET), plans to soon complete its acquisition of Double Door Communications Inc. and resume trading on the TSX-V. The exchange has conditionally approved the deal as long as it closes by May 27. HTN will then graduate to the TSX-V under a catchier name, The Internet of Things Inc. While there will be mostly new directors and new senior management at HTN when this deal closes, the company's current shareholders will maintain control.

The shell has an ocean-sized float of 140,677,577 shares outstanding and no plans for a rollback in the near future. It will acquire Double Door for just 10 million shares; an extra five million performance shares will be held in escrow, to be released if Double Door generates revenue of $600,000 in the fiscal year ended Dec. 31, 2015. The target provides outsourcing services to the advertising industry, and recently it also acquired a software company. Its list of recent clients includes Ogilvy & Mather, Pet Valu and Saatchi & Saatchi. The impressive list of clients is accompanied by unimpressive financials. In the nine-month period ended Sept. 30, 2014, Double Door lost $49,531 on revenue of $102,398. Double Door's founders, Manish Dixit and Malay Dixit, will both become vice-presidents when the deal closes. Manish, currently the president of Double Door, will receive 6.3 million shares, and Malay, a vice-president of Double Door, will receive 2.7 million. They will each devote 80 per cent of their time to the company.

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