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Saturday, July 22, 2006 12:35:14 AM
http://biz.yahoo.com/e/060719/evsi.ob8-k.html
Based on the Company's failure to effectuate the reverse split and increase in authorized shares in a timely manner, at this time, parties have mutually agreed that they will not proceed with the transaction.
There will be no RS. Because the merger has been cancelled.
If you are holding 100K HISC, you will get 2000 share of EVSI at the whatever market price it will be. The current price is $0.035, that means the dividen worth only $70 for 100k share of HISC. Keep in mind that, the around 20M shares of evsi will be issued and added to current only 10.40M outstanding share of EVSI. The value of EVSI will be diluted and no longer will be at $0.035 after this dividend to HISC shareholder.
So, at the time you want to redeem these dividend to cash, it will be worth about nothing !
HISC is completely disappointed me.
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