Prime Companies, Inc.(fka PCIR)

[$oldier Hard]

Here is the Spinoff Co.

http://www.t-p-t.net/
"Spinning off 15 percent of the merged company to our shareholders will be a significant dividend in the expected future growth of TransPacific Telecom," said Norbert Lima, Chairman of Prime Companies' Board of Directors. Mr. Lima, with 35 years experience in the telecommunications industry, will become President of TPT upon completion of the transaction.

Mr. Lima is becoming the Pres of the Co. He is on the BOD of PCIR.
Who are they taking This Co. public through?
The agreement with TransPacific Telecom, Inc., the developer of award winning VOIP processing software, allows TransPacific to make the necessary filings to take the merged company public. "This merger will enable TPT to become publicly traded, providing us the opportunity to utilize the capital markets and to raise the funds that will be used to make TPT a world renowned, elite telecommunications carrier of choice," said Stephen Thomas, TPT CEO.

Why was it necessary for them to spinoff 15% to shareholders of to allow TransPacific Telecom to make the filings?