Presidion Reverse Merger Gets PEO Funds

Presidion Corp., a Troy, MI, based professional employer organization, in February executed a reverse merger with MediaBus Networks Inc. of Boca Raton, Florida. MediaBus was a publicly held company traded on the OTC Bulletin Board that had no ongoing operations. The merger now allows Presidion to raise funds as a public company. According to reports, the company will seek $30 million to $40 million from capital markets this year to strengthen its balance sheet and create an acquisition fund. The company says that its insurance companies require Presidion to set aside more than $10 million as p...