Call-Solutions Terminates Acquisition of Sharpe Communications
Houston, TX -- (OTCBBB NEWSWIRE) -- July 27, 2001, Management of Call-Solutions Inc. (CSOL: .03) believes the sale price of Sharpe Communications Ltd., a Jamaican based company, is unsupported by the facts, according to an 8-K filed by the company today.
Call-Solutions management believes information discovered in the course of their due diligence, revealed in makes the previously announced acquisition "unfeasible at this time."
CSOL announced the acquisition on February 8 this year. In the initial announcement it was reported Sharpe had gross earnings of $3.8 million for the eight-month period ending December 2000. Call-Solutions felt the acquisition of Sharpe represented "the successful achievement of a critical milestone."
At 12:51 EST, CSOL is off .007 (19%). Volume is 40,600.
Call Solutions Inc. is seeking to open call centers throughout the world. Call Solutions Inc. will operate call centers designed to be multi-media contact centers, able to facilitate computer telephony integration technology, thereby enabling all forms of Internet, cable and telephony commerce.
For the three months ended 3/31/01, the Company reported no revenues. Net loss totaled $2.5 million, up from $1.2 million. Results reflect increased general and administrative costs related to intended Sharpe Communication acquisition.
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