ACG has aquired an equity interest in National Auto Inspections, LLC, trading as CARCHEX ("CARCHEX"). CARCHEX is an E-commerce platform providing after market assurance services in the automotive sector. CARCHEX currently operates primarily in two lines of business-auto warranties and auto inspections. CARCHEX's auto warranty business line sells direct-to-consumer extended warranties and sells warranty "leads" to other warranty companies. In general, warranty contracts offer consumers coverage for terms extending up to ten (10) years or, in the case of mileage based warranties, up to 150,000 miles. CARCHEX enters into agreements with multiple warranty companies to provide the warranties to consumers. CARCHEX provides pre-purchase automobile inspections through a network of approximately 200 inspectors servicing approximately 500 cities and towns, CARCHEX provides a 155-point inspection report which is ultimately presented via the Internet.
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