Some positive analysis of PR.
I also said I'd like to be back in when certain questions are answered. Now here's some good DD on the PR.
I don't believe the Wisebuys/SWVC merger is complete, but the PR signals Sept 24 as the latest day it should take for completion because that is the day the Hackets audit is supposed to begin. The need for a Hackets audit, as per the wording of the PR, is triggered by the earlier Sept agreement between WB and Hackets and is probably contingent upon the Wisebuys/SWVC merger going through.
Caution: Just retaining an auditor, doesn't mean you pay the entire fee up front for the audit. The retainer might be something inconsequential.
Tom chose the words "will be" and not "is" pertaining to whether the Wisebuys SWVC merger has been completed.
Looks like the deal with will be done on Sept 24 and that will trigger an 8K four days later.
Just my opinion. And Im rooting for all SWVC longs even though Im out right now. Im sorry, I dont have enough money to speculate right now. I need a sure thing and am willing to risk profits in order to get a sure thing.
NEW YORK--(BUSINESS WIRE)--Seaway Valley Capital Corporation (OTC Bulletin Board: SWVC - News) chairman and chief executive officer, Thomas W. Scozzafava, issued the following update to its shareholders today:
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Dear Shareholders:
I am pleased to update you on the progress of WiseBuys Stores, Inc. ("WiseBuys"), including its pending acquisition of Patrick Hackett Hardware Company ("Hacketts").
We are pleased to announce that WiseBuys Stores, Inc. ("WiseBuys") has again retained the services of Dannible & McKee, LLP to complete the audits of Patrick Hacketts Hardware Company ("Hacketts"), which shall initiate its audits on Monday September 24th. The May 24, 2007 acquisition agreement between WiseBuys and Hacketts was amended in September to include the completion of the audited financials as a contingency since WiseBuys will be 100% owned by its public parent, Seaway Valley Capital Corporation, at the time of the WiseBuys-Hacketts closing.
