I can lead a horse to water, but I can't make him drink !
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Applied Materials Poised for Purchases/
Applied Materials, Inc. (AMAT) is apparently on the hunt for bolt-on acquisitions. Chief Executive Mike Splinter told the Wall Street Journal he is open to more deals after buying Semitool, Inc. in December. On Wednesday, Applied Materials shares rose following its revised sales outlook for the fiscal year. The semiconductor manufacturer, which had predicted in February that its sales would increase over 50%, now expects 60% revenue growth compared to its 2009 results.
Analysts have responded enthusiastically to the company’s earnings projections and the possibility of upcoming M&A activity. Takeout targets could include start-up companies such as Crossing Automation, a semiconductor wafer manufacturer that purchased Asyst Technologies Inc. assets following Asyst’s bankruptcy last year.
http://www.researchrecap.com/index.php/tag/ma/page/2/
When Intel supplier Asyst Technologies got into trouble in 2009, Intel Capital guided Crossing Automation into buying Asyst, saving 100 jobs and safeguarding Intel's domestic supply chain.
http://chiefexecutive.net/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=6558CCEBF36347C49216B4C72A10E7A7&AudID=F242408EE36A4B18AABCEB1289960A07
Current share structure confirmed.
Dear Sir / Madam:
Thank you for contacting Computershare, the transfer agent for Asyst Technologies. We appreciate the opportunity to be of service to you.
The number of shares outstanding for Asyst Technologies (ASYTQ) stock is 50.67 Million; Number of Float shares is 49.66 Million. This data was provided by Capital IQ.
Should you have other account related questions, please call us at 1-781-575-2000 during regular business hours. Please note that any available representative can assist you.
Sincerely,
Nancy Kuplast
Shareholder Services
Target is $0.20 ----- The Staff StockMarketNewsAlert email: info@stockmarketnewsalert.com
IMO, after a complete capitulation over the next 2-weeks, to test the 0.002c price level, ASYTQ will stage a rally toward the previous resistance at 0.014c, and could break through it.
StockMarketNewsAlert.com NEW Corporate Stock Alert ~~~~~~~~~~~~~~~~~~~~~~~~~~
ASYTQ is making a run towards $0.02. Once we break past $0.02 again, ASYTQ could reach $0.10 or better.
We haven`t seen news from ASYTQ since November 09` and anticipate news shortly which should send the stock higher.
We`ll keep you posted.
The Company(Crossing Automation) develops, manufactures, sells and supports integrated hardware and software automation systems primarily for the semiconductor and secondarily for the flat panel display manufacturing industries.(Crossing Automation, Inc. ) ASYTQ is a Leading supplier of wafer-level automation to the semiconductor manufacturing and related industries. We bring to market a broad product portfolio spanning atmospheric pressure and vacuum-compatible platform modules.
Crossing Automation is at the leading-edge of automation technology development for semiconductor, MEMS and green technology-related manufacturing; as part of our commitment to driving the most effective, cost-efficient automation systems, our engineering department consistently strives to identify new approaches to automation technology and unique and innovative ways to implement existing and off-the-shelf components to increase customers` ROI and decrease time to market.
Target is $0.20 ----- The Staff StockMarketNewsAlert email: info@stockmarketnewsalert.com
ASYTQ/Crossing Automation.....
If any person or group becomes the beneficial owner of 15 percent or more of Asyst's Common Stock (which, as provided in the Amended Plan, includes stock referenced in derivative transactions and securities), then each Right not owned by such Acquiring Person will entitle its holder to purchase, at the Right's then-current exercise price, shares of Common Stock having a market value of twice the Right's then-current exercise price. In addition, if, after any person has become an Acquiring Person, the Company is involved in a merger or other business combination transaction with another person, each Right will entitle its holder (other than such Acquiring Person) to purchase, at the Right's then-current exercise price, common shares of the acquiring company having a value of twice the Right's then-current exercise price.
The Company may redeem the Rights at a price of $0.001 per Right at any time prior to the date on which any person has become an Acquiring Person.
Thanks for checking !
I appreciate it.
HDOGTX: Can you check into ASYTQ, to see if it fits your criteria for your 3 Stages.
Yes*******
Stage 2: would be filing a 15-12g (Still very weak, might be nothing more than someone who couldn't afford their auditor anymore, unless coupled with a name change).
Yes*******
Stage 3: would be a change in officers and company address (This one is a decent place to real radar this one, maybe nibble a bit). What you want to see is the new officers have a decent track record on past business deals especially if they did a successful merger in the past.
Yes*******
Stage 4: would be a name change (I split this stage into two lists. One's I can not find any info on new company. These I watch but don't buy. A real company who is already doing a lot of business should be al over google. The good one's are the one's where new company name is all over google, appears to have decent revenue.
http://www.otcmarkets.com/stock/ASYTQ/financials
http://www.asyst.com/
http://investorshub.advfn.com/boards/board.aspx?board_id=15288
After assessing the best possible outcome for the lender group, a lengthy and complex sales process was undertaken and Scouler’s role expanded to include assistance and support for potential bidders and closely monitor the use of the lender’s cash collateral.
Scouler initiated with the company an aggressive new business orders initiative to generate additional cash to extend the timeline to find buyers. Operations cash was generated for several more months enabling the company to conclude the sales process in Japan and the U.S. as well as fund the wind down plan causing no erosion in the sales proceeds.
The total recovery for sale of assets in both Japan and the U.S. is expected to be approximately 80%, which is a result that is more than 3 times what was anticipated by the lending group.
The T/A that is listed for ASYTQ, is no the T/A,
according to Danielle, the person I talked to this morning, at the following phone number.
She suggested calling the company.
http://www.otcmarkets.com/stock/ASYTQ/company-info
Transfer Agent(s)
Computershare Investor Services LLC
General shareholder inquiries:
1-800-736-3001
http://stockcharts.com/h-sc/ui?s=ASYTQ&p=D&yr=0&mn=6&dy=0&id=p64170188321
I have sent an e-mail. Waiting on response from the TA on the current "float".
The phone number for the TA is:
To find out the current "float".
http://corporate.computershare.com/us/aboutus/contact/Pages/contactus.aspx?
http://www.otcmarkets.com/stock/ASYTQ/company-info
Transfer Agent(s)
Computershare Investor Services LLC
General shareholder inquiries:
1-800-736-3001
http://stockcharts.com/h-sc/ui?s=ASYTQ&p=D&yr=0&mn=6&dy=0&id=p64170188321
Technical_Indicator: Thx very much !
Will pay close attn to your analysis.
Glad I found you and your board. Really liking your morning posts.
Will let you know if anything developes.
edurk
Matt_Chart: Thx for your quick response,
on ASYTQ.
Buying here @ 0.0042c, to catch any dip to 0.002c
Bought in @ 0.005c over the last 6 weeks.
Will continue to seek your thoughts along the way.
Thanks very much !!
http://stockcharts.com/h-sc/ui?s=ASYTQ&p=D&yr=0&mn=6&dy=0&id=p64170188321
Technical_Indicator: ASYTQ ?
Just found your board.
Great info here.
Like it a lot.
Will be reading your posts from now on.
Any thoughts on ASYTQ.
Looks interesting at this point at 0.0042c
Would you wait for a drop to 0.002c to fill gap?
http://stockcharts.com/h-sc/ui?s=ASYTQ&p=D&yr=0&mn=6&dy=0&id=p64170188321
http://stockcharts.com/h-sc/ui?s=ASYTQ&p=D&yr=1&mn=0&dy=0&id=p93986904839
http://stockcharts.com/h-sc/ui?s=ASYTQ&p=D&yr=2&mn=0&dy=0&id=p44743561664
Matt_Chart: Is ASYTQ ready to run any time soon?
http://stockcharts.com/h-sc/ui?s=ASYTQ&p=D&yr=2&mn=0&dy=0&id=p23879241010
http://stockcharts.com/h-sc/ui?s=ASYTQ&p=D&yr=0&mn=3&dy=0&id=p90974713681
Looks to me like it has further downside to 0.002c to fill the gap, but it also is interesting from a story point of view.
It could become a reverse merger/shell play, and I'm wondering if it could retrace 50% of the 0.67c April 2009 peak.
What do you think?
Like your board a lot.
Just discovered it today.
Thanks,
edurk
Founder77: Is this it?
I have sent an e-mail.
Will let you know what I find out.
Transfer Agent
P.O. Box 43023
(150 Royall St. (MS-3B)
Canton, MA 02021)
Providence, RI, 02940-3023
Email Pink OTC
Call 212.896.4420
Founder77:
Phone number for CORP2000 below: 1-877-558-7678
Data is updated weekly and is current as of Friday, November 05, 2010.
Entity Name: ASYST TECHNOLOGIES, INC.
Entity Number: C1247744
Date Filed: 05/31/1984
Status: ACTIVE
Jurisdiction: CALIFORNIA
Entity Address: 46897 BAYSIDE PKY
Entity City, State, Zip: FREMONT CA 94538
Agent for Service of Process: CORP2000
Agent Address: 720 14TH ST
Agent City, State, Zip: SACRAMENTO CA 95814
I don't know how to locate the T/A Transfer Agent, to find out what the "float" is. Do you?
I wonder about "the use of the wording" here, by the CEO of Crossing Automation, in regard to ASYTQ?
"The new entity.., "As a combined entity..,
MOUNTAIN VIEW, Calif., Aug. 3 /PRNewswire/ -- Crossing Automation, Inc., (http://www.crossinginc.com/) today announced that it has entered into a definitive agreement to acquire the assets of Asyst Technologies' atmospheric technologies and IP including the sorter, EFEMEFEM Equipment Front End Module.
Crossing's existing investment partners Tallwood Venture Capital and Intel Capital continue to support the company's expansion. Specific terms of the agreement were not disclosed.
Industry veteran Robert MacKnight, as Executive Chairman at Crossing Automation, will lead the integration process folding Asyst's hardware, service and spares assets and personnel into Crossing's wafer-level automation business. Since the launch of its ExpressConnect(TM) and ExpressSolutions(TM) capabilities earlier this year, Crossing has been actively working to expand the company into the atmospheric wafer handling and automation areas of semiconductor manufacturing. The acquisition of Asyst's strong product set, along with its existing global sales and service capabilities, offered an ideal opportunity to Crossing to enter this market space in a leading position.
"This deal makes good sense in terms of synergy, leverage and opportunity," commented MacKnight. "Crossing has gone from start-up to an established player overnight by acquiring this technology. The new entity has an established customer base that has both vacuum and atmospheric automation requirements and we foresee a great opportunity to bring real value to the OEM community with a complementary tool set."
"This move demonstrates how serious we and our investors are in relation to the market and the opportunity that exists," stated Jed Keller, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. for Crossing Automation. "As a combined entity we will be better positioned to engage mainstream semiconductor equipment companies with a complete automation solution set. We will continue to pursue a model focused on the process equipment market that brings greater value and flexibility to these customers while offering a larger set of modular building blocks that will drive down costs through innovation and scale."
http://www.thefreelibrary.com/Crossing+Automation+Signs+Definitive+Agreement+to+Acquire+Asyst...-a0204915099
Also,
Intel Capital guided Crossing Automation into buying Asyst
One example of how Intel Capital's investments are decidedly in its interest: In 2005, it invested in Crossing Automation, a small firm in Fremont, Calif., that makes specialized tools for the semiconductor and related industries. When Intel supplier Asyst Technologies got into trouble in 2009, Intel Capital guided Crossing Automation into buying Asyst, saving 100 jobs and safeguarding Intel's domestic supply chain.
http://chiefexecutive.net/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=6558CCEBF36347C49216B4C72A10E7A7&AudID=F242408EE36A4B18AABCEB1289960A07
the co also filed form 15-12g(mar,12 2010),more indication that we could see a R/M here.
One small thing that is interesting about ASYTQ is that they are still active with the CA Secretary of State.....which means that they are keeping their filings up to date.
http://kepler.sos.ca.gov/cbs.aspx
Also interesting that they didn't sign the Liquidation Trust Agreement and there is also per 8K no effective date for the Liquidation Trust agreement.
Founder77:
I don't know about the float on this one. 40million+ is an interesting number. Anyone called the T/A?
I have not called.
I am interested in the facts though.
Fact #1. On Feb.8th, over 15M traded. That means 15M were sold
and 15M were bought!
Fact #2. The shares are still ACTIVE. (not canceled)
Fact #3. Secured creditors are looking at a positive outcome,
according to the Docket #637 10/22/2010 Report.
"The recovery, estimated to be approximately 80%,
significantly exceeds the initial expectations of the
secured lenders."
I wonder just how many shares are left for "free-trading"
(float), with all the buying that has taken place over the last some odd months.
Might there be, as few as a "single-digit million", number of shares available for free-trading?
And, since it only takes 2-weeks for the process of a Reverse Merger transaction to be accomplished, this could all have already taken place, or is about to take place, or is in the works to take place soon, according to the following:
A Reverse Merger is a transaction where by the private company shareholders may gain control of a public company by merging it in with their private company. The private company shareholders receive a substantial majority of the shares of the public company (normally 85% to 90% or more) and the control of the board of directors. The transaction can be accomplished in as little as two weeks, resulting in the private company becoming a public company. The transaction does not go through a review process with state and federal regulators because the public company has already completed the process. The transaction involves the private and shell company exchanging information on each other, negotiating the merger terms, and signing a share exchange agreement. At the closing the public shell company issues a substantial majority of its shares and the board control to the shareholders of the private company. The private company shareholders pay for the shell and contribute their private company shares to the shell company and the private company is now public.
Upon completion of the reverse merger, the name of the shell company is usually changed to the name of the private company.
Fact #4. Interesting that Asyst Technologies and Crossing Automation have the same address, and logo.
http://kepler.sos.ca.gov/cbs.aspx
Data is updated weekly and is current as of Friday, November 05, 2010.
Entity Name: ASYST TECHNOLOGIES, INC.
Entity Number: C1247744
Date Filed: 05/31/1984
Status: ACTIVE
Jurisdiction: CALIFORNIA
Entity Address: 46897 BAYSIDE PKY
Entity City, State, Zip: FREMONT CA 94538
Agent for Service of Process: CORP2000
Agent Address: 720 14TH ST
Agent City, State, Zip: SACRAMENTO CA 95814
TOUCAN: Do you wonder about "the use of the wording" here, by the CEO of Crossing Automation, in regard to ASYTQ?
"The new entity.., "As a combined entity..,
MOUNTAIN VIEW, Calif., Aug. 3 /PRNewswire/ -- Crossing Automation, Inc., (http://www.crossinginc.com/) today announced that it has entered into a definitive agreement to acquire the assets of Asyst Technologies' atmospheric technologies and IP including the sorter, EFEMEFEM Equipment Front End Module.
Crossing's existing investment partners Tallwood Venture Capital and Intel Capital continue to support the company's expansion. Specific terms of the agreement were not disclosed.
Industry veteran Robert MacKnight, as Executive Chairman at Crossing Automation, will lead the integration process folding Asyst's hardware, service and spares assets and personnel into Crossing's wafer-level automation business. Since the launch of its ExpressConnect(TM) and ExpressSolutions(TM) capabilities earlier this year, Crossing has been actively working to expand the company into the atmospheric wafer handling and automation areas of semiconductor manufacturing. The acquisition of Asyst's strong product set, along with its existing global sales and service capabilities, offered an ideal opportunity to Crossing to enter this market space in a leading position.
"This deal makes good sense in terms of synergy, leverage and opportunity," commented MacKnight. "Crossing has gone from start-up to an established player overnight by acquiring this technology. The new entity has an established customer base that has both vacuum and atmospheric automation requirements and we foresee a great opportunity to bring real value to the OEM community with a complementary tool set."
"This move demonstrates how serious we and our investors are in relation to the market and the opportunity that exists," stated Jed Keller, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. for Crossing Automation. "As a combined entity we will be better positioned to engage mainstream semiconductor equipment companies with a complete automation solution set. We will continue to pursue a model focused on the process equipment market that brings greater value and flexibility to these customers while offering a larger set of modular building blocks that will drive down costs through innovation and scale."
http://www.thefreelibrary.com/Crossing+Automation+Signs+Definitive+Agreement+to+Acquire+Asyst...-a0204915099
Also,
Intel Capital guided Crossing Automation into buying Asyst
One example of how Intel Capital's investments are decidedly in its interest: In 2005, it invested in Crossing Automation, a small firm in Fremont, Calif., that makes specialized tools for the semiconductor and related industries. When Intel supplier Asyst Technologies got into trouble in 2009, Intel Capital guided Crossing Automation into buying Asyst, saving 100 jobs and safeguarding Intel's domestic supply chain.
http://chiefexecutive.net/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=6558CCEBF36347C49216B4C72A10E7A7&AudID=F242408EE36A4B18AABCEB1289960A07
the co also filed form 15-12g(mar,12 2010),more indication that we could see a R/M here.
One small thing that is interesting about ASYTQ is that they are still active with the CA Secretary of State.....which means that they are keeping their filings up to date.
http://kepler.sos.ca.gov/cbs.aspx
Also interesting that they didn't sign the Liquidation Trust Agreement and there is also per 8K no effective date for the Liquidation Trust agreement.
TOUCAN:
Post # of 976
TOUCAN: Do you know what the current "float" is for ASYTQ?
They have 50M O/S, however, over 15M traded on Feb.8th.
I'm wondering if the sharesz have been bought by Crossing Automation, and about a possible "R/M", rebrand of ASYTQ.
Shareholder Rights Plan
The Amended Plan is intended to continue to enable all of the Company's shareholders to realize the long-term value of their investment in the Company.
If any person or group becomes the beneficial owner of 15 percent or more of Asyst's Common Stock (which, as provided in the Amended Plan, includes stock referenced in derivative transactions and securities), then each Right not owned by such Acquiring Person will entitle its holder to purchase, at the Right's then-current exercise price, shares of Common Stock having a market value of twice the Right's then-current exercise price. In addition, if, after any person has become an Acquiring Person, the Company is involved in a merger or other business combination transaction with another person, each Right will entitle its holder (other than such Acquiring Person) to purchase, at the Right's then-current exercise price, common shares of the acquiring company having a value of twice the Right's then-current exercise price.
The Company may redeem the Rights at a price of $0.001 per Right at any time prior to the date on which any person has become an Acquiring Person. In addition, the Amended Plan includes a Qualified Offer provision, which provides that if an offer is made for the Company's outstanding Common Stock which meets certain pre-determined criteria set forth in the Amended Plan, the record holders of 10 percent of the outstanding Common Stock (other than shares held by the offeror and its affiliates) may after 90 business days direct the Company to call a special shareholders' meeting to consider a resolution authorizing a redemption of the Rights. If the special meeting is not held within 90 business days of being called or if the holders of a majority of the outstanding Common Stock (other than shares held by the offeror and its affiliates) vote in favor of the redemption of the Rights, then the Company's Board will redeem the Rights or take such other actions necessary to prevent the Rights from interfering with the consummation of the Qualified Offer.
The Amended Plan will continue in effect until the close of business at 5:00 p.m., EDT, on July 8, 2009, unless earlier redeemed or terminated by Asyst, as provided in the Amended Plan.
Shareholder Rights Plan
The Amended Plan is intended to continue to enable all of the Company's shareholders to realize the long-term value of their investment in the Company.
If any person or group becomes the beneficial owner of 15 percent or more of Asyst's Common Stock (which, as provided in the Amended Plan, includes stock referenced in derivative transactions and securities), then each Right not owned by such Acquiring Person will entitle its holder to purchase, at the Right's then-current exercise price, shares of Common Stock having a market value of twice the Right's then-current exercise price. In addition, if, after any person has become an Acquiring Person, the Company is involved in a merger or other business combination transaction with another person, each Right will entitle its holder (other than such Acquiring Person) to purchase, at the Right's then-current exercise price, common shares of the acquiring company having a value of twice the Right's then-current exercise price.
The Company may redeem the Rights at a price of $0.001 per Right at any time prior to the date on which any person has become an Acquiring Person. In addition, the Amended Plan includes a Qualified Offer provision, which provides that if an offer is made for the Company's outstanding Common Stock which meets certain pre-determined criteria set forth in the Amended Plan, the record holders of 10 percent of the outstanding Common Stock (other than shares held by the offeror and its affiliates) may after 90 business days direct the Company to call a special shareholders' meeting to consider a resolution authorizing a redemption of the Rights. If the special meeting is not held within 90 business days of being called or if the holders of a majority of the outstanding Common Stock (other than shares held by the offeror and its affiliates) vote in favor of the redemption of the Rights, then the Company's Board will redeem the Rights or take such other actions necessary to prevent the Rights from interfering with the consummation of the Qualified Offer.
The Amended Plan will continue in effect until the close of business at 5:00 p.m., EDT, on July 8, 2009, unless earlier redeemed or terminated by Asyst, as provided in the Amended Plan.
The common shares of ASYTQ, are not canceled, just suspended.
Until they get out of BK, (based on the March 12, 2010 8k), the shares were canceled from the BK proceeding, not canceled in total. Form 15 stated it was suspended, and not canceled.
The share structure is still intact.
Just another interesting reason for a R/M.
Shell Stocks are:
publicly traded corporations, all that exists of the original company is its corporate shell structure.
The company should have no assets or liabilities, a public company that no longer has any business and just retains capital structure and reporting status.
Many private companies like to reverse merge with a Shell and become public themselves. Since the public company changes it's name to reflect the private, this merger gives us the reverse situation, thus the term "reverse merger".
When Intel supplier Asyst Technologies got into trouble in 2009, Intel Capital guided Crossing Automation into buying Asyst, saving 100 jobs and safeguarding Intel's domestic supply chain.
"The new entity.., "As a combined entity..,
MOUNTAIN VIEW, Calif., Aug. 3 /PRNewswire/ -- Crossing Automation, Inc., (http://www.crossinginc.com/) today announced that it has entered into a definitive agreement to acquire the assets of Asyst Technologies' atmospheric technologies and IP including the sorter, EFEMEFEM Equipment Front End Module
..... Click the link for more information. (equipment front end module) and RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. products. Crossing's existing investment partners Tallwood Venture Capital and Intel Capital continue to support the company's expansion. Specific terms of the agreement were not disclosed.
Industry veteran Robert MacKnight, as Executive Chairman at Crossing Automation, will lead the integration process folding Asyst's hardware, service and spares assets and personnel into Crossing's wafer-level automation business. Since the launch of its ExpressConnect(TM) and ExpressSolutions(TM) capabilities earlier this year, Crossing has been actively working to expand the company into the atmospheric wafer handling and automation areas of semiconductor manufacturing. The acquisition of Asyst's strong product set, along with its existing global sales and service capabilities, offered an ideal opportunity to Crossing to enter this market space in a leading position.
"This deal makes good sense in terms of synergy, leverage and opportunity," commented MacKnight. "Crossing has gone from start-up to an established player overnight by acquiring this technology. The new entity has an established customer base that has both vacuum and atmospheric automation requirements and we foresee a great opportunity to bring real value to the OEM community with a complementary tool set."
"This move demonstrates how serious we and our investors are in relation to the market and the opportunity that exists," stated Jed Keller, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. for Crossing Automation. "As a combined entity we will be better positioned to engage mainstream semiconductor equipment companies with a complete automation solution set. We will continue to pursue a model focused on the process equipment market that brings greater value and flexibility to these customers while offering a larger set of modular building blocks that will drive down costs through innovation and scale."
http://www.thefreelibrary.com/Crossing+Automation+Signs+Definitive+Agreement+to+Acquire+Asyst...-a0204915099
15-12G & Shell Plays
A shell is a company that is incorporated, but generally has no significant assets or business operations. Shells typically trade on the Bulletin Board or Pink Sheet markets and were at one point operating entities before ceasing normal business activities.
Shell companies are often involved in Reverse Merger Activities with private companies that desire to go public.
Reverse mergers occur when a shell company is purchased by a private firm seeking to become a public company. Consummating this type of transaction involves an exchange of information and shares
A Reverse Merger is a transaction where by the private company shareholders may gain control of a public company by merging it in with their private company. The private company shareholders receive a substantial majority of the shares of the public company (normally 85% to 90% or more) and the control of the board of directors. The transaction can be accomplished in as little as two weeks, resulting in the private company becoming a public company. The transaction does not go through a review process with state and federal regulators because the public company has already completed the process. The transaction involves the private and shell company exchanging information on each other, negotiating the merger terms, and signing a share exchange agreement. At the closing the public shell company issues a substantial majority of its shares and the board control to the shareholders of the private company. The private company shareholders pay for the shell and contribute their private company shares to the shell company and the private company is now public.
Upon completion of the reverse merger, the name of the shell company is usually changed to the name of the private company.
To deregister, a firm files Form 15-12G
"When a firm “goes dark” it deregisters with the Securities and Exchange Commission (SEC) and delists its shares. Deregistered firms are no longer required to make SEC filings such as annual reports, proxies, 10-Ks, 10-Qs and other important documents. And they’re no longer required to have annual meetings or elect outside directors.
To deregister, a firm files Form 15-12G (Securities Registration Termination) with the SEC stating its intent to deregister, usually by a certain date. Once that date arrives, the stock exchange or NASDAQ prohibits future trading in the shares. The firm’s shares are then relegated to the pink sheets, where liquidity is usually much lower. Although the actual process takes some time, the firm’s share price typically will decline immediately after the “going dark” announcement, since many institutions are prohibited from owning shares of firms that don’t file with the SEC or trade on the exchanges or NASDAQ.
Shareholder Action Plan
The lessons here are several:
If a company you own announces plans to deregister, don’t panic.
I still think ASYTQ could be "re-branded" as Crossing Automation.
A lot of similarities to QSGIQ and Krusecom.
Seems to me, that the two companies are getting all of their "ducks in a row", with the help of INTEL.
ASYTQ has only 50M O/S
Worth a look !!
TOUCAN: Where do you look for the "float" on a company you're interested in?
Founder77: Do you know what the current "float" is for ASYTQ?
They have 50M O/S, however, over 15M traded on Feb.8th.
I'm wondering if the shares have been bought by Crossing Automation, and about a possible "R/M", rebrand of ASYTQ.
TOUCAN: Do you know what the current "float" is for ASYTQ?
They have 50M O/S, however, over 15M traded on Feb.8th.
I'm wondering if the sharesz have been bought by Crossing Automation, and about a possible "R/M", rebrand of ASYTQ.
FORM 15 - Asyst Technologies, Inc.
Crossing Automation (private company)
Asyst Technologies, Inc. ( public company)
Plan Objections. In response to the Plan Objections by Crossing Automation, Inc. (“Crossing”) and Intel Corporation (“Intel” and, together with Crossing, “Crossing/Intel”), on the one hand, the Debtor and Key Bank, as agent for the pre-petition lenders (“Debtor/Key Bank”), on the other hand, agreed on the record that $254,175.06 shall be paid forthwith by the Debtor to Crossing. Upon such payment, Crossing/Intel on the one hand, and Debtor/Key Bank, on the other,
(“Debtor/Key Bank”), on the other hand, agreed on the record that $254,175.06 shall be paid forthwith by the Debtor to Crossing
Now why would you give a company funds to buy your assets? What's going on here? Why did they pay them $254,175.06?
What is a Reverse Merger with a Public Shell?
A Reverse Merger is a transaction where by the private company shareholders may gain control of a public company by merging it in with their private company. The private company shareholders receive a substantial majority of the shares of the public company (normally 85% to 90% or more) and the control of the board of directors. The transaction can be accomplished in as little as two weeks, resulting in the private company becoming a public company. The transaction does not go through a review process with state and federal regulators because the public company has already completed the process. The transaction involves the private and shell company exchanging information on each other, negotiating the merger terms, and signing a share exchange agreement. At the closing the public shell company issues a substantial majority of its shares and the board control to the shareholders of the private company. The private company shareholders pay for the shell and contribute their private company shares to the shell company and the private company is now public.
Could ASYTQ be a shell for Crossing Automation?
Could ASYTQ be a shell for Crossing Automation?
March 09, 2009 "Asyst Technologies, Inc. (NASDAQ:ASYT) has received Intel Corporation’s Preferred Quality Supplier (PQS) award recognizing their significant contributions to Intel in 2008. Asyst supplies Intel with automated material handling systems, deemed essential to Intel’s success. Asyst and 25 additional suppliers are recognized as 2008 PQS award winners. "
"Mountain View-based Crossing Automation said the expansion is supported by its funding partners, Palo Alto-based Tallwood Venture Capital and Intel Capital, the venture arm of Santa Clara-based Intel Corp. (NASDAQ:INTC)"
Here why I'm thinking that Crossing Automation was given the core business. There seems to be a link between them receiving it over the other buyers like Aquest. Aquest who offered back in 2008 to buy ASYST for around $6 a share. Which was higher then their current share at that time, but ASYST ended that deal. Also keep in mind Crossing Automation is a start-up as they really came into market with their product in 2008. About the same time Asyst was dropping like a rock in that year. Hmmm...Asyst and Crossing have connections with Intel. This looks like a win win situation for Intel as they don't have to change supplier or start-up a new relationship. Since Crossing bought the core business of Asyst that has supplied Intel with products. Intel can continue to work with a setup that has proven to work well for Intel. To keep the business going just under a different name for a while until ASYST shell became debt free.
Intel Capital guided Crossing Automation into buying Asyst
One example of how Intel Capital's investments are decidedly in its interest: In 2005, it invested in Crossing Automation, a small firm in Fremont, Calif., that makes specialized tools for the semiconductor and related industries. When Intel supplier Asyst Technologies got into trouble in 2009, Intel Capital guided Crossing Automation into buying Asyst, saving 100 jobs and safeguarding Intel's domestic supply chain.
http://chiefexecutive.net/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=6558CCEBF36347C49216B4C72A10E7A7&AudID=F242408EE36A4B18AABCEB1289960A07
Docket #637 10/22/2010 Report: ASYST LIQUIDATION TRUST TRUSTEE REPORT FOR THE PERIOD JULY 1, 2010 THROUGH SEPTEMBER 30, 2010 Filed by Other Prof. Scouler & Company
Dan Scouler, Managing Principal....
" This represents continuation of a complex case with coordinated bankruptcy filings in the United States and Japan. The recovery, estimated to be approximately 80%, significantly exceeds the initial expectations of the secured lenders."
http://chapter11.epiqsystems.com/ATI/docket/Default.aspx?rc=1
http://stockcharts.com/h-sc/ui?s=ASYTQ&p=D&yr=0&mn=3&dy=0&id=p84538044227
Docket #626 7/30/2010 Amended Report: ASYST LIQUIDATION TRUST TRUSTEE REPORT MARCH 5, 2010 - JUNE 30, 2010 Filed by Other Prof. Scouler & Company
Docket #621 7/21/2010 Statement of UST in Opposition to Closing Case