Perfumania Hldgs. Inc fka PERFQ

[jobynimble]

PREM 14C: PERF Majority Consents; Sell/Liquidate Assets

Monday , August 18, 2003 13:18 ET

According to a PREM 14C filed today, PerfectData Corporation (OTCBB: PERF) received the consent of more than a majority of the outstanding shares of the Company's Common Stock entitled to vote, in lieu of holding a meeting, pursuant to an Agreement dated as of July 15, 2003 by and among Leland P. Polak, Joseph Mazin, William B. Wachtel as Trustee for the Digital Trust, Bryan Maizlish, Timothy D. Morgan, Tracie Savage, Harris A. Shapiro, Corey P. Schlossmann, Irene J. Marino and the Company, authorizing the Company to sell its inventory, intellectual property and business operations for the highest possible price.

If an agreement to sell such assets was not able to be reached, or if any agreement is not closed within a reasonable time frame for any reason, the Company is authorized to liquidate its assets and close its operations. Such consent is general and does not relate to any specific purchaser or purchase price.