O/S is believed to be approx 60 million
FYI: TLNT update - I just received a call this afternoon from the attorney handling the deal between TLNT and Raymar, he stated that Raymar is just purchasing the assets from TLNT and TLNT is filing BK. So it looks like this is going to be a empty shell with no assets. He also told me that TLNT stockholders will be receiving nothing from the company. His number is below if anyone wants to contact him.
Attny is Robert Cowen 714-522-8880
RAYMAR-TELENETICS PARTNER/CUSTOMER ANNOUNCEMENT
This is notification that Raymar Information Technology, Inc. of Sacramento, California has purchased all assets of Telenetics Corporation in Irvine, California.
Be advised that it is the intention of Raymar Information Technology, Inc. (Raymar, Inc.) to continue the production and sale of the Telenetics product portfolio. It is Raymar Inc.’s desire that strong working relationships with former Telenetics customers and partners are built and maintained in order to ensure its commitment to providing product in a reliable and timely fashion.
Raymar Inc. has considerable experience in the successful acquisition of technology based companies through seamless integration of their product lines into its portfolio (including American Technology Labs, Penril, Telcom 21, and Varatouch).
While any transition of this type may involve some disruption to delivery timescales initially, both our experience in acquisitions of this nature and our commitment to customer satisfaction serve to ensure that disruptions will be kept to an absolute minimum. Furthermore, Raymar Inc. recognizes the value of its customers and partners; thus, the value of keeping them fully informed.
We understand naturally, that you may well have a number of questions regarding the impact of this acquisition. In an effort to be proactive, we are enclosing a brief list of basic questions and answers to address some of the more common concerns. This Q&A list is by no means exhaustive, so please do not hesitate to call or e-mail one of the contacts listed below should you have additional questions or concerns.
Raymar started out more than 25 years ago as a dealer in Microdata computer systems and through continued growth and change, today manufactures a wide range of computer and communications equipment for industrial and business data processing.
In addition, Raymar also provides a wide range of high quality professional services in network design, installation and support. Please visit our website at www.raymarinc.com for more information.
Raymar Information Technology, Inc.