C$ cMoney Merges With Public Shell Bonfire Productions

Houston-based C$ cMoney, a startup focused on mobile payments, announced today that it is in a definitive merger agreements with Bonfire Productions. Financial terms of the deal were not disclosed. Bonfire productions is a publicly listed, "shell" company which trades OTC. According to C$ cMoney, the acquisition will help it in its strategic growth plan. C$ cMoney is backed by Kodiak Capital Group and says it plans to release a mobile payment application sometime later this spring.