Welcome to SMG Indium Resources Ltd
SMG Indium Resources (OTCQB: SMGI) is a growth-oriented oilfield services Company.
Since inception, SMG’s primary business purpose has been to stockpile indium, a specialty metal that is being increasingly used as a raw material in a wide variety of consumer electronics manufacturing applications. In December 2013, our Board of Directors authorized management to sell our entire stockpile in 2014 based on prevailing market conditions. SMG sold all of the indium held by December 31, 2014.
After determining and evaluating its strategic options, the Board of Directors concluded that the acquisition (reverse acquisition) of MG Cleaners, a Texas based oilfield services company, is a good strategy and that our stockholders will have an opportunity to participate with the future oilfield and MG business. SMG’s sole operations are currently those of its wholly-owned subsidiary MG Cleaners LLC.
MG CLEANERS ACQUISITION
On September 19, 2017 we acquired 100% of the membership interests of MG Cleaners LLC, an oilfield services company headquartered in Houston, Texas, founded in 2005. Headquartered in Houston, Texas, with offices in Carthage (East Texas) and Midland (West Texas), MG Cleaners LLC (“MG”) is an oilfield services company that operates throughout Texas.