from rb board food for thought.......................Our New Buisnes !!!!!!!
Hey guys and gals,,,,, For sake of argument lets explore the possibility that this will be our new buisness when all lawsuits are settled !!!!!!!
Heres Jays latest investment:
On January 5, 2008, the Company entered into an agreement to purchase 2,666,667 shares (approximately 31%) of the outstanding common stock of Microlog Corporation (“Microlog”) from TFX Equities, Inc (“TFX”) for $1,000 in cash (the “Microlog Agreement”). The Company also received from TFX $2,000,000 of 10% subordinated notes, due from Microlog on January 5, 2011, that are convertible into Microlog common stock at a price of $0.10 per share, warrants to purchase 100 shares of Series A convertible preferred stock of Microlog, and warrants to purchase 750,000 shares of Microlog common stock at an exercise price of $0.10 per share in connection with the Microlog Agreement. In addition, the Company invested $250,000 in cash directly in Microlog in exchange for a 10% subordinated note with a face value of $250,000, due January 5, 2011, that is convertible into Microlog common stock at a price of $0.10 per share. Microlog is a Germantown, MD based government contractor that develops, sells and installs software for integrated voice response and web-based customer contact systems in the healthcare industry. Microlog’s common stock is traded on the “Pink Sheets” under the symbol “MLOG”.
By doing a little quick math, This allows us to purchase 26 million shares of Microlog. We own now 1/3 of this company for only $1k, this seems a little funny when you consider the stock is worth roughly $1.3 million, not a bad discount. Take into the fact we have warrants to buy an addition 24 mil shares{ part of 26 million} for $.10 a piece. Seems like a great deal on the surface. Remember Micro only floats 7 million shares !!!!
A merger around the corner or out right Buy ????????
ANY THOUGHTS !!!!!!!
AI
