Moto Photo selling assets to new Moto for $2.7 million

Moto Franchise Corp. was formed by Harry Loyle and the principals of five of the company’s current area developers. Loyle, a former director of the company, owns approximately 9 percent of the company’s common shares, and is currently principal share-holder in and president and CEO of a Moto area developer. He will serve as CEO of Moto Franchise Corporation.

Once the sale has been approved and completed, Moto Franchise Corporation will handle franchise and related activities, and Moto Photo Inc. will cease company store operations and other operating activities.