What happened to the cash and stock distributions ?
"MonArc Corp (MONA) is involved in a
complex process of calculations visa a vie issuing a number of cash and stock
distributions to its shareholders. I had the privilege of working with Mr. Garr
Winters at MONA briefly who was instrumental in making all of these
distributions possible and made shareholder concerns his top priority"
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News for 'MONA' - (Global General Technologies, Inc (GLGT) CEO Merger Update Message (MONA))
MONTREAL, July 13, 2009 /PRNewswire-FirstCall via COMTEX/ -- Global General
Technologies, Inc (GLGT) www.glgt-corporate.com Further to GLGT news release of
April 15 2009 the company is providing this further update on the developments
on the merger activities., and other business matters.
Paul Sylvestre, President of GLGT said "GLGT management expected to finalize
this merger on or before May 7, 2009. I can safely now say that we are within a
few days of making this announcement official. I do want to add that the delay
will be well worth the wait and the pain suffered by few of this delayed
announcement will benefit many. What I mean by that, is the company which GLGT
acquired the Bio Tech asset from namely MonArc Corp (MONA) is involved in a
complex process of calculations visa a vie issuing a number of cash and stock
distributions to its shareholders. I had the privilege of working with Mr. Garr
Winters at MONA briefly who was instrumental in making all of these
distributions possible and made shareholder concerns his top priority. Now that
he is no longer with MONA things just didn't move as efficiently as before. Now
that GLGT matter was resolved with MONA management and all points reached we
should be well under way with GLGT and the Bio Tech direction.
Over the past several months apart from the fact that we were building our
business and finalizing another acquisition in the cosmetics industry, over the
next few weeks and next several months our shareholders can expect to receive
many updates and activities of our business. We have developed and acquired some
of the best Bio Tech products and will be launching a web site shortly where
consumers can buy the product directly on line and use it in their everyday
household needs.
We acknowledge that GLGT was a company in duress when acquired by the new
management and the majority shareholder (financier). It is our sincere desire to
restore most of that eroded value back to GLGT and its shareholders and to
inject a new and fresh lifeblood into this vibrant company.
The best things for GLGT are yet to come."
AI
