Posted by: valuemind
In reply to: None Date:5/23/2007 11:29:03 AM
Post #of 73156
rphl: sold one of its whole owned subsidiaries for $1.92 million or about $0.128 per share. traded at $0.055 only.
from 8K:
Summary of Purchase Agreement Terms
In consideration for the Stock Purchase, Nexus has agreed to pay us a purchase price of approximately $1.92 million, subject to adjustment. In addition, Nexus agreed to assume certain liabilities related to our healthcare management business and the payment of certain of our expenses related to the Stock Purchase.
We anticipate that a portion of the purchase price will be used to repay substantially all of our outstanding note payables and other outstanding obligations, including outstanding note payables and accrued expenses and fees payable to certain of our directors and officers. After payment of the foregoing amounts, we intend to make a dividend to our stockholders of the remaining purchase price. The record date for the determination of the stockholders entitled to such dividend has not been determined, but it is expected that it will be after the completion of the Stock Purchase.
This is not a reco to buy! Please do your DD!
