Thx looked at it and ...
1. Results :
As a result of the foregoing, the Company realized a net income of
$562,323, or $0.04 per basic and diluted common share, for the three-month
period ended June 30, 2006, compared to a net loss of ($372,614), or
($0.06) per basic and diluted common share, for the three-month period
ended June 30, 2005. The Company realized a net income of $251,608, or
$0.02 per basic and diluted common share, for the six-month period ended
June 30, 2006, compared to a net loss of ($496,215), or ($0.08) per basic
and diluted common share, for the six-month period ended June 30, 2005.
2. Merger coming ?
In the Spring of 2006 Management determined that the Company was
unlikely to obtain the funding necessary to carry out its plans for
launching new products. Accordingly, in June 2006 we commenced an
initiative whose goal is to (a) acquire a new operating company and (b)
dispose of our current operations. Towards that end we sold a controlling
interest in Ultradata to Warner Technology, subject to a provision that
Warner Technology will lose its shares if Ultradata has not completed a
satisfactory acquisition by the end of 2006. We also transferred our
operating assets to a wholly-owned subsidiary, and entered into an
agreement with members of our Management that charges them with
responsibility for obtaining a buyer for those operations. To date no
transaction of the sort contemplated in the June 2006 activities has been
completed.
Besides that ... some posts from Raging Bull :
***
On August 11, 2006 John Leo resigned from his position as the sole
member of Ultradata's Board of Directors and as its Chief Executive Officer
and Chief Financial Officer. Prior to resigning, Mr. Leo elected Huakang
Zhou to serve on the Board of Directors. Mr. Zhou will also serve as Chief
Executive Officer and Chief Financial Officer.
Since 1993 Huakang Zhou has been employed as chairman of the board of
Warner Technology and Investment Corp. a New Jersey corporation that he
organized in 1993. Warner Technology provides international training and
market consulting services. Warner is licensed by the People's Republic of
China to serve as an official host for Chinese government officials and
business executives in the US. As part of the hosting process Warner also
provides training programs to assist visiting Chinese officials and
business executives with the transition to doing business in the US. These
services include market and product analysis, assistance with product
distribution and distribution agreements, joint ventures, and introductions
to strategic partners.
Mr. Zhou holds a Ph.D. degree in Operations Research that was awarded in
1989 by the Polytechnic University of New York.
****
Other post :
Hopefully this stock will be the next dpfd.
That one went up 10x in about 2 days time,
when a China deal was announced.
James
****
Post on John C Leo :
JOHN C. LEO. Mr. Leo is the founder of American Union Securities, Inc., and has served as its President since 2004. American Union Securities is a full service investment banking firm registered with the Securities and Exchange Commission and the National Association of Securities Dealers. American Union Securities works with both domestic and foreign issuers, with a specific expertise in identifying private companies in China that have the potential to be successful public companies in the United States. From 2001 through 2003, prior to organizing American Union Securities, Mr. Leo was the founder and managing member of Venture Capital Partners, LLC, a private merchant banking and consulting firm. From 1996 through 2001, Mr. Leo was employed as a registered principal and OTC market maker with AM Capital and MH Meyerson. Mr. Leo became a registered representative in 1987 and during his career has focused on raising capital for IPOs and reverse merger transactions. Mr. Leo maintains the following NASD registrations: Series 7, 63, 55 and 24. Mr. Leo also serves on the board of the following public companies:
China Industrial Waste Management, China International Enterprises Inc., DK Investors, and Central American Equities Corp. Mr. Leo is 41 years old.
Mr. Leo is now the sole director of UDTA
Look for a merger with a Chinese Company
IMO due your own due diligence
LOL
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