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In ABHG
bought IGAI
in TSET again...
CLX Investment Company Announces Stock Dividend
TEMECULA, Calif., Sep 06, 2005 (BUSINESS WIRE) -- CLX Investment Company, Inc. (OTCBB:CLXN) today announced that the Board of Directors has met and approved a plan to dividend shares of the Company's common stock on a 1-for-3 basis. Shareholders of record as of the close of business on September 23, 2005 will be entitled to receive one share of common stock for every three shares they own.
"The CLX Board strongly believes that the Company's current market capitalization does not accurately reflect CLX's true market value and is taking this action, in part, to adjust the market cap upward to a more appropriate level," commented Tammy Dunn, chief executive officer of CLX Investment Company. "The Board is also seeking to reward shareholders for their continued support and give them a greater stake in what the Board believes will be significant future value in the Company's investment portfolio.
"There are several outstanding investment opportunities currently being considered by CLX and its Investment Committee. Further, our current portfolio holdings are positioned to make significant impact in their respective markets. As a result, we expect that the coming weeks will bring a steady stream of information that will be of interest to our shareholders and the public markets," added Ms. Dunn.
The Board expects that shareholders of record at the close of business on September 23, 2005 will be mailed their additional certificates within 30 days of the closing date. Shareholders will not be required to surrender existing certificates, and no action is required on the part of current shareholders.
Only shareholders of record at the close of business on the record date will be eligible to receive this dividend. As a result, all trades must be settled to be eligible, which usually occurs on the third business day after the trade was executed. The Company cannot ensure that shares purchased on a particular date will settle by the close of business on the record date, so CLX encourages anyone interested in participating in the dividend to speak to their broker or other qualified investment representative.
To sign up to receive information by email directly from CLX Investment Company when new press releases, investor newsletters, SEC filings, or other information is disclosed, please visit http://www.clxinvestments.com/email.asp.
About CLX Investment Company
CLX Investment Company (www.clxinvestments.com) has elected to be regulated as a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940, and is pursuing a business plan wherein the Company seeks to acquire and invest in developing companies. CLX acquired a 49% interest in eStrategy Solutions (http://www.estrategysolutions.com) and has made an investment in ActionView International, Inc., a publicly traded manufacturer and marketer of scrolling advertising billboards.
All statements included in this release, including statements regarding potential future plans and objectives of CLX Investments are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Investments' control. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements depending on many factors. Historical results are not necessarily indicative of future performance.
SOURCE: CLX Investment Company, Inc.
CONTACT: Gemini Financial Communications
A. Beyer, 951-587-8072
investors@clxinvestments.com
Copyright Business Wire 2005
-0-
KEYWORD: United States
North America
California
INDUSTRY KEYWORD: Professional Services
Accounting
Banking
SUBJECT CODE: Dividend
Meridian Holdings, Inc. Declares a Dividend Distribution of CGI Communication Services, Inc. Common Stock
LOS ANGELES, CA, Sep 02, 2005 (MARKET WIRE via COMTEX) -- Meridian Holdings, Inc. (OTC BB: MRDH), announced today that pursuant to the written consent of the board of directors of both Meridian Holdings, Inc, and CGI Communications Services, Inc., (OTC: CGIC) dated August 24, 2005, in which it was approved that Meridian Holdings, Inc., declare a dividend of shares of CGI Communications Services, Inc., Common Stock it owns, to each of its shareholders with the exception of all current and past officers, directors and affiliates, by transferring or causing to be issued one (1) share of the CGI Stock for every ten (10) shares of Meridian Holdings, Inc., common Stock held by each of such shareholder ("Dividends") of record as of September 26, 2005.
Both Meridian Holdings, Inc., and CGI Communications Services Stock Symbol remains the same.
"We wish to seize this opportunity to thank all our shareholders and wish them a happy Labor Day weekend," said Dike, Chairman and CEO.
About Meridian Holdings, Inc.
Meridian Holdings, Inc. is an acquisition-oriented business enterprise focused on building, operating and managing a portfolio of business-to-business companies. Meridian seeks to acquire majority or controlling interests in companies engaged in e-commerce, e-communication, and e-business services, which will allow the holding company to actively participate in management, operations and finances. Meridian's network of affiliated companies is designed to encourage maximum leverage of information technology, operational excellence, industry expertise and synergistic business opportunity. Meridian is committed to building shareholder value by positioning affiliated companies as independent business entities in which Meridian shareholders enjoy equity participation. Learn more about the company and its subsidiaries, by visiting Meridian's web site at www.meho.com.
About CGI Communications Services, Inc.
CGI Communications Services, Inc., provides comprehensive telemedicine and telecare solutions, supplying Medical Products, Telecommunications services and InterCare DX. Inc.'s (OTC BB: ICCO) ICE(TM) software (http://www.intercare.com). For more information, about our products and services, please visit our website at www.cgics.com.
Just the price. Was .12/.23, now .20/.30 with no transaction.
What’s up with ATHO? it’s gapping this morning.
Nothing for now.
Picked up some JPCI
GRLZ had an unusual volume today, maybe it has something to do with the Threshold Security List. Any thought about it?
CSTC Reverse Merge with a 1 for 25 reverse split but...
In connection with the Reverse Split, Chiste's board of directors may, in its discretion, provide special treatment to certain Chiste stockholders to preserve round lot holders (i.e., holders owning at least 100 shares) after the Reverse Split. In the event Chiste's board determines to provide such special treatment, Chiste stockholders holding 2,500 or fewer shares of common stock but at least 100 shares of common stock will receive 100 shares of common stock after the Reverse Split, and persons holding less than 100 shares of common stock would not be affected. The terms and conditions of special treatment afforded to Chiste stockholders to preserve round lot stockholders, if any, including the record dates for determining which stockholders may be eligible for such special treatment, will be established in the discretion of Chiste's board of directors.
I like TSET ugly spread... .50/2
Low float 121000
Outstanding 600000
Last filing
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons acquired their interests in the Issuer pursuant
to a transaction whereby Halter would become the President and a director of the
Issuer. The purpose of this transaction is to facilitate the desire of the
Issuer to effect a reverse merger with an as yet unidentified private company at
some point in the future. In order to further such a potential reverse merger,
the Reporting Persons have acquired control of the Issuer through a purchase of
outstanding shares of common stock.
FYTK new LOI in today’s 10QSB
On April 15, 2005 the Company entered into a letter of intent to complete a merger transaction with Ronco Marketing Corporation, a Delaware Corporation (RMC) whereby RMC would become a wholly owned subsidiary of the Company through a merger of RMC into a newly formed subsidiary of FI-TEK, Ronco Acquisition Company (Acquisition). The Company will change its name from FI-TEK VII, Inc. to Ronco Corporation if such name is available in the state of Delaware. Each share of capital stock issued and outstanding by the Company immediately prior to the effective time shall remain issued and outstanding. Each share of RMCs and Acquisitions common stock issued and outstanding immediately prior to the effective time shall cease to be outstanding and shall be converted into one share of common stock of the surviving corporation. The letter of intent contemplates the execution of a definitive agreement, which has not yet been signed.
Ronco is the same company that tried to merge with TIDH
Sorry wrong Board...
FYTK new LOI in today’s 10QSB
On April 15, 2005 the Company entered into a letter of intent to complete a merger transaction with Ronco Marketing Corporation, a Delaware Corporation (RMC) whereby RMC would become a wholly owned subsidiary of the Company through a merger of RMC into a newly formed subsidiary of FI-TEK, Ronco Acquisition Company (Acquisition). The Company will change its name from FI-TEK VII, Inc. to Ronco Corporation if such name is available in the state of Delaware. Each share of capital stock issued and outstanding by the Company immediately prior to the effective time shall remain issued and outstanding. Each share of RMCs and Acquisitions common stock issued and outstanding immediately prior to the effective time shall cease to be outstanding and shall be converted into one share of common stock of the surviving corporation. The letter of intent contemplates the execution of a definitive agreement, which has not yet been signed.
Ronco is the same company that tried to merge with TIDH
HOMI news,
HOMI -- Health Outcomes Management, Inc.
Com (1 Cent)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Hudson Securities, Inc. Announces Completion of Its Merger Into Health Outcomes Management, Inc.
JERSEY CITY, N.J., May 3, 2005 /PRNewswire via COMTEX/ -- Hudson Securities, Inc. ("Hudson"), a registered broker-dealer with the National Association of Securities Dealers, Inc. and SIPC, announced today that it has completed its merger into a wholly-owned subsidiary of Health Outcomes Management, Inc. ("Health Outcomes"), a publicly-traded company (OTC Bulletin Board: HOMI.OB). As part of the transaction, Health Outcomes, upon receipt of board and stockholder approval, intends to: (i) change its name to Hudson Holding Corporation, and (ii) effectuate a reverse-split of its outstanding common stock. The former stockholders of Hudson will control the board of directors and approximately 94% of the outstanding shares of common stock of Health Outcomes upon their receipt of 154,672,671 shares of Health Outcomes' common stock in connection with the merger.
Hudson is a leading OTC market maker, making markets in approximately 7,000 securities. Hudson currently has 82 employees, 55 of which are position and sales traders. Hudson's unaudited revenues for the fiscal year ended March 31, 2005 were approximately $20,800,000 and unaudited pre-tax profit was approximately $730,000. These figures are unaudited and subject to adjustment upon completion of the audit of its financial statements by its independent registered public accounting firm.
In developing its business, Hudson currently intends to establish investment banking and research departments and an institutional agency-only trading desk. Hudson's corporate headquarters are located in the financial district of Jersey City, New Jersey at 525 Washington Blvd. and they also maintain offices in Boca Raton, Florida and Colorado Springs, Colorado.
Keith Knox, President and Secretary of Hudson views Hudson's core market making business as a platform for future growth, stating "We are very excited about becoming a public company. This transaction was a critical next step in the execution of our strategic business plan, which includes synergistic acquisitions in technology, asset management and trading. After growing Hudson privately for many years, we see significant potential in obtaining access to the public capital markets and a public currency for use in connection with strategic initiatives. Additionally, we believe that being a public company will allow our employees to share in the benefits of Hudson's future growth."
As previously reported in Health Outcomes Schedule 14f-1/A as filed with the U.S. Securities and Exchange Commission on April 29, 2005, upon completion of this transaction, Martin Cunningham, Keith Knox and Mark Leventhal will be appointed to serve on Health Outcomes' board of directors, constituting a majority of its board of directors, until the next annual meeting of stockholders. Additionally, Peter J. Zugschwert, Health Outcomes President and sole executive officer has resigned and the board of directors has appointed Martin Cunningham as Chief Executive Officer, Keith Knox as President and Secretary and Mark Leventhal as Executive Vice President. Peter J. Zugschwert will remain as a director of Health Outcomes.
Upon receipt of board and stockholder approval, of which there can be no assurance, Health Outcomes intends to effect a one-for-five reverse-split of its outstanding shares of common stock. Assuming a one-for-five reverse split of its outstanding shares of common stock is consummated, Health Outcomes will have approximately 32.9 million shares of its common stock outstanding after the merger transaction.
In connection with the intended name change of Health Outcomes to Hudson Holding Corporation, of which there can be no assurance, Health Outcomes' stock symbol will be changed as well, which Health Outcomes will announce when NASDAQ assigns a new symbol.
I sold my position because I thought there was too many sells. This is not a trading pattern that I’m use to.
I dont understand, LTUP has a lot more sell then buy and the price still goes up.
L2 keep improving. Why?
REIC from SC 13D
THIS AGREEMENT (this "Agreement"), entered into as of the 29th day of April, 2005, is made by and between KAREN RICKETTS AND UNA RICKETTS FOR HERSELF AND AS EXECUTRIX OF THE ESTATE OF GARFIELD H. RICKETTS, SR. (each, a "Seller" and collectively, the"Sellers"), REII INCORPORATED, a Delaware corporation traded on the National Association of Securities Dealers, Inc.'s Over-the-Counter Bulletin Board System which has no ongoing business or operations (the "REII" or "Company") and LIVORNO INVESTMENTS LTD., a Luxemburg corporation (the "Buyer").
WHEREAS, Sellers own 3,633,050 shares of common stock (the "Shares") of the Company, such Shares representing approximately 78% of the issued and outstanding shares, of the common stock of the Company; and
WHEREAS, Sellers desire to sell to Buyer, and Buyer wishes to purchase from Sellers, the Shares, pursuant to the terms and conditions of this Agreement; and
WHEREAS, the Company desires to facilitate the transactions set forth.
GRLZ moving
LTUP .95/1
TFAC maybe...
HOMI today’s filing
CHANGE OF CONTROL
The following summary of the Agreement is qualified in its entirety by references to the Agreement, a copy of which has been filed as an exhibit to the Company's Current Report on Form 8-K dated December 22, 2004.
General
The Agreement was entered into on December 22, 2004. Pursuant to the Agreement, the Company will acquire 100% of the issued and outstanding capital stock of Hudson and its business operations through a statutory merger of Hudson Acquisition, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company with and into Hudson, with Hudson as the surviving corporation and a wholly-owned subsidiary of the Company. At the effective time of this merger, all of the issued and outstanding shares of common stock in Hudson will be converted into the right to receive shares of common stock of the Company (each, a "New Share") and all of the Company's business operations will be the operations of Hudson. New Shares will constitute approximately 94% of the issued and outstanding shares of the Company's common stock immediately after the consummation of the transactions contemplated by the Agreement.
Control of the Company
At present, 9,782,720 shares of the Company's common stock are issued and outstanding. No options to purchase shares are issued or outstanding. The Company will issue 154,672,613 shares of its common stock to Hudson, or 94% of all shares issued and outstanding after such issuance. The current shareholders of Hudson will therefore acquire control of the Company immediately after the consummation of the transactions contemplated by the Agreement.
LTUP, L2 looking a bit better .75/1
LTUP news
Lighten Up Enterprises International Acquired by Bionovo in Merger Transaction
Merger Coincides With Private Placement of $8 Million
EMERYVILLE, Calif., April 11, 2005 /PRNewswire-FirstCall via COMTEX/ -- Lighten Up Enterprises International (OTC Bulletin Board: LTUP) announced today the closing of a stock-for-stock merger with Bionovo, Inc. Immediately prior to the Merger, Bionovo closed on a private placement totaling approximately $8 million, as described below. The combined company will operate under the name "Bionovo" and will assume and execute Bionovo's drug discovery and development business plan as its sole business. Shares will continue to be quoted on the Over-the-Counter (OTC) Bulletin Board initially under its existing symbol, LTUP. The company currently plans to apply for listing of its shares on the American Stock Exchange or Nasdaq SmallCap Market.
Bionovo is a drug development company focusing on the discovery of novel pharmaceutical agents for cancer and women's health. The company's strategy is to develop new drugs that it derives from natural substances used therapeutically in non-western medical practice. Bionovo's first drug is entering phase II clinical testing for menopause, its second has completed phase I clinical testing for cancer, and these are followed by more than forty additional drug candidates that the company believes should provide Bionovo with a sustainable development pipeline of new chemical entities and botanicals.
Bionovo, Inc.
Isaac Cohen, Bionovo's Co-Founder and Chief Executive Officer, stated, "The private placement and merger transactions are significant for Bionovo as it allows us to accelerate our product development and launch our multi-center phase II clinical trial of our drug for menopause, MF101, as well as seek approval for a phase II trial of our anticancer agent, BZL101. We believe that completion of these transactions in the context of challenging capital market conditions demonstrates strong support for the Bionovo drug discovery pathway and the significant market potential anticipated for our products."
About the Private Placement Transaction
Bionovo's private placement, which consisted of common stock and warrants to purchase common stock, was completed today and resulted in gross proceeds of approximately $8 million. The securities sold by Bionovo in the private placement and shares issued by Lighten Up Enterprises International in the merger have not been registered under the Securities Act of 1933, may not be sold in the United States absent registration pursuant to the Securities Act. The Company expects to file a registration statement for the securities issued in the merger within 90 days.
Lead Drug in Clinical Testing
Women's health is a significant area with unmet medical needs. It is estimated that 75% of the 40 million menopausal women in the US experience unpleasant, menopausal symptoms including hot flashes, depression and vaginal dryness.
For decades, hormone replacement therapy (HRT) has been the only treatment promoted by physicians to facilitate a woman's transition from her reproductive years to menopause. However, recent data refutes the purported benefits of HRT. With the alarming evidence that HRT does not exert any protective cardiac benefit in women and because combination estrogen plus progesterone hormone therapy increases the risks of cardiovascular disease, stroke, breast cancer, uterine cancer, and blood clots, many women are seeking alternative therapies to treat the symptoms of menopause.
Bionovo's lead drug, MF101, is designed to alleviate the symptoms of menopause, including hot flashes and night sweats. Results from the Phase I study show that MF101 is safe and well tolerated for the treatment of hot flashes. Phase II clinical testing has been approved by the U.S. Food and Drug Administration, and Bionovo plans to begin enrollment of the multi-center trial this summer under the directorship of Dr. Deborah Grady at the University of California, San Francisco Medical Center.
Forward Looking Statements
This release contains certain "forward looking statements", relating to the business of Lighten Up Enterprises International, Inc. and Bionovo, Inc. which can be identified by the use of forward looking terminology such as "believes," "expects," or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development, regulatory actions or delays, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, physician acceptance, third party reimbursement, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Lighten Up Enterprises International and Bionovo, Inc. are under no obligation (and expressly disclaims any such obligation) to update or alter its forward looking statements whether as a result of new information, future events or otherwise.
This release was issued through Major Newswire (http://www.majornewswire.com).
SOURCE Lighten Up Enterprises International; Bionovo, Inc.
CONTACT: Isaac Cohen, Chief Executive Officer of Bionovo, Inc., +1-510-601-2000, or fax,
+1-510-601-5050, isaac@bionovo.com
URL: http://www.prnewswire.com
http://www.majornewswire.com
http://www.bionovo.com
LTUP reverse merge
from last 8k
OVERVIEW
On April 6, 2005, Lighten Up Enterprises International, Inc., a Nevada corporation, completed a reverse merger transaction, in which it caused LTUP Acquisition Corp., a Delaware corporation and newly-created, wholly-owned subsidiary of Lighten Up Enterprises International, to merge with and into Bionovo, Inc., a Delaware corporation. Bionovo is a drug discovery and development company focusing on cancer and women's health.
As a result of the merger, Bionovo will continue as a wholly-owned subsidiary of Lighten Up Enterprises International, and Bionovo's former security holders acquired a majority of the outstanding shares of common stock, par value $.0001 per share, of Lighten Up Enterprises International. The reverse merger was consummated under Delaware law and pursuant to an Agreement of Merger and Plan of Reorganization, dated as of April 6, 2005 (the Merger Agreement), a copy of which is filed as an exhibit to this Report. Immediately prior to the closing of the reverse merger, Bionovo completed a private offering of Units to accredited investors at a price of $100,000 per Unit. Each Unit was comprised of 200,000 shares of Bionovo common stock and warrants to purchase 25,000 shares of Bionovo common stock for $0.75 per share and 25,000 shares of Bionovo common stock for $1.00 per share exercisable for a period of five years. Bionovo sold
80.955 Units and received gross proceeds of $8,095,500 at the closing of the private offering.
Lighten Up Enterprises International intends to reincorporate the company to Delaware from Nevada and change the name of the public company to Bionovo, Inc., upon stockholder approval. In connection with the name change, the company will seek a new trading symbol.
in QRUS
Take a look at the last 4 day of trading.
GOKN
Doesnt take much to move it
From CYPC 8k
Item 8.01 Other Events
On March 30, 2005, Century Pacific Financial Corporation entered into a Letter of Intent to acquire Town House Land Limited ("Town House"), a private limited liability company organized under the laws of the Hong Kong Special Administrative Region in The People's Republic of China (the "PRC"). Under the transactions contemplated under the Letter of Intent, the Company will acquire all of the outstanding capital stock of Town House from Town House's existing stockholders and the holders of capital stock to be issued by Town House in connection with a private placement capital raise ("Capital Raise") to be completed simultaneous with the closing of the acquisition (collectively, the "Town House Stockholders"). In the exchange, the Company will issue shares of its common stock to the Town House Stockholders (including the holders of capital stock to be issued in the Capital Raise), in such amount so that, immediately after giving effect to the acquisition, the Town House Stockholders will own in the aggregate 92.0% of the Company's issued and outstanding shares of common stock on a fully diluted basis. At the close of the transaction, it is contemplated that a new board of directors will be designated by the Town House Stockholders. After the payment of certain transaction related fees (including the issuance of the Company's common stock to certain finders and advisors), the current stockholders of the Company are expected to own approximately 8.0% of the issued and outstanding common stock after completion of the transaction with Town House, on a fully diluted basis.
The completion of the acquisition is subject to the negotiation and execution of a definitive acquisition agreement, the delivery of financial statements of Town House prepared in accordance with generally accepted accounting principles in the United States of America, and the approval of the acquisition by the Company's board of directors. The acquisition is also subject to Town House's completion of a Capital Raise in an amount not less than $5,000,000. Subject to the satisfaction of the above conditions and other customary conditions, the acquisition is presently expected to close in the second quarter of 2005. However, there can be no assurances that the acquisition will be completed.
ORDT slowly moving up on reverse acquisition filing note.
NOTE 4. PENDING BUSINESS COMBINATION
On September 15, 2004, the Registrant, and the holders of all of the outstanding capital stock (the "Holders") of Ovale S.A., a Swiss corporation ("Ovale"), entered into a Share Exchange Agreement that amended, restated and replaced their prior agreements (the "New Agreement"). Pursuant to the New Agreement, the Holders agreed to tender to the Registrant all of the 100 issued and outstanding shares of Class A common stock, 1,000 CHF (i.e., Swiss Francs) par value, and all 150 issued and outstanding shares of Class B common stock, 5,000 CHF par value, of Ovale in exchange for an aggregate of 10,608,100 shares of common stock of the Registrant.
In addition, certain Class A Shareholders of Ovale who borrowed CHF 50,000 from the Registrant in June, 2003 (the "June Borrowers") and Vladimir Fabert, Ovale's President and principal stockholder ("Fabert") who arranged for a loan to be made to Ovale for a maximum of (euro)700,000 (the "Fabert-Ovale Loan") agreed that at the closing: (i) Fabert shall accept 1.667 shares of the Registrant's common stock for each Euro lent to Ovale by the Registrant as payment of the Fabert-Ovale Loan; and (ii) the June Borrowers shall accept CHF50,000 as additional payment for their Class A Ovale shares in full satisfaction of their loan. The foregoing is hereinafter referred to as the ("Share Exchange"). As a result, and at the closing of the Share Exchange, Ovale will become a wholly owned subsidiary of the Registrant, and the Holders will collectively own approximately 75% of the total number of shares of the Registrant's common stock expected to be issued and outstanding as of that date. The transaction with the Holders is being accounted for as a reverse acquisition. The Agreement, which contains the customary representations and warranties, requires Ovale to furnish the Registrant with audited financial statements. Following the closing of the Share Exchange with Ovale, of which there can be no assurance: (i) Messrs. Vladimir Fabert and Gilles Neveau will be elected as the Registrant's principal executive officers and as members of the Registrant's Board of Directors; (ii) the Registrant will elect a Chief Financial Officer; (iii) Irwin Pearl will remain as a member of the Registrant's Board of Directors; and (iv) the Registrant will become principally engaged in the design and distribution of high quality infant clothing, gifts and accessories.
On November 8, 2004, the Registrant, Ovale and the Holders entered into an amendment (the "Amendment") to the New Agreement. Pursuant to the Amendment, the parties agreed to consummate the business combination in two closings. At the first closing, the Registrant was to cause the original issuance and delivery to a designated Swiss escrow agent of an aggregate of 5,900,000 shares of its common stock, $.01 par value per share. Those shares were to be held in escrow until the completion of all but three of the conditions precedent to closing enumerated in the New Agreement have been satisfied. The conditions to the first closing having been met, that closing took place in November, 2004. The three conditions to the second closing are: the delivery of the Ovale financial statements required by the New Agreement, the authorization from the Registrant's shareholders to amend its charter and the filing of an appropriate amendment to the Registrant's Certificate of Incorporation. At the second closing, the Registrant will, deliver the remaining 5,875,000 shares of its common stock, $.01 par value per share to the individual Ovale shareholders in exchange for all of the Ovale shares being held in escrow by the Swiss escrow agent. Finally, the Amendment provided that the Registrant's current Board of Directors shall remain intact until the second closing.
ORDT 1.45/1.75
FYTK (shell) moving up on almost no volume
CSTC now .51/1.01
Bought GOMD @.08
Does someone bought RYND (now IMEA) for the forward spit 200 for 1 and received their actions. My broker said FS was cancelled after, so why it’s still showing on pinksheets.com?
Wayne you got a PM
I was waiting to see what kind of buying interest it will have. But I guess the spread kill it for now. Better 1000 then 0.
Just bought CSTC on yesterday 8k
Item 8.01 Other Events
Effective on March 2, 2005, Chiste Corporation ("Company") entered into a Letter of Intent to acquire HydroGen, LLC, an Ohio limited liability company ("HydroGen"). Under the transactions contemplated under the Letter of Intent, the Company will acquire all of the interests from HydroGen's existing members, including membership interests to be issued prior to closing in connection with a capital raise of not less than $10,000,000 ("HydroGen Members"). In the exchange, the Company will issue shares of its common stock to the HydroGen Members in such amount so that, immediately after giving effect to the acquisition, the HydroGen Members will own in the aggregate 95% of the Company's issued and outstanding shares of common stock. At the close of the transaction, it is contemplated that a new board of directors will be designated by the HydroGen Members and that such Board will include one member to be designated by Keating Reverse Merger Fund, LLC, the current principal stockholder of the Company.
The Company's completion of the acquisition is subject to the negotiation of a definitive acquisition agreement, the execution of the acquisition agreement by the required HydroGen members, HydroGen and the Company, and the completion of the $10,000,000 capital raise. Subject to the satisfaction of the above conditions and other customary conditions, the acquisition is presently expected to close in April 2005. However, there can be no assurances that the acquisition or the capital raise will be completed.
The Company is currently a public "shell" company with nominal assets whose sole business has been to identify, evaluate and investigate various companies with the intent that, if such investigation warrants, a reverse merger transaction be negotiated and completed pursuant to which the Company would acquire a target company with an operating business with the intent of continuing the acquired company's business as a publicly held entity.
1
HydroGen is a developer of multi-megawatt fuel cell systems utilizing its proprietary 400 kilowatt (kW) phosphoric acid fuel cell (PAFC) technology. The technology was developed by and acquired from Westinghouse Corporation. HydroGen is positioning itself to compete in the rapidly growing distributed generation market, by offering complete fuel cell systems in the 6-30 megawatt (MW) range at prices that management believes will be competitive with incumbent generating technologies in this size class, and significantly lower than other fuel cell technologies.
HydroGen's technology and approach are unique because air-cooled PAFC fuel cells are used, and the individual fuel cell stacks are detached from the hydrogen source. Management believes this approach will result in significant cost savings, since air-cooled stacks are inherently simple to manufacture, and because HydroGen's fuel cell power plants can utilize either mature, large-scale hydrogen plant technology or existing hydrogen infrastructure to supply hydrogen to the fuel cell stacks.
HydroGen's products provide close to zero-emission, net water-generating, reliable, high-quality electric power from hydrogen. These products address directly the problems associated with the current inefficient, centralized, combustion-based energy system by offering economically competitive fuel cell systems that will accelerate market entry of the "hydrogen economy."
Target markets for HydroGen systems include the general industrial cogeneration market, grid support and distributed generation for utilities, educational and municipal institutions seeking clean power, and niche markets associated with the existing global hydrogen production infrastructure. HydroGen has done extensive market research, supported in part by the US Department of Defense, and is working in partnership with major industrial gas companies, utilities, chemicals companies, and select government facilities to identify project locations for HydroGen's early series of units.
Any opinion on CHYS?
Not sure I should have sold all my position.