Thresher Industries, Inc. (THRR)

[beerput]

Summation of CC



the translation is a close approximation of the call not all verbatim and I may have missed a few words/lines here and there I am not a stenographer
Lots of pings and crap--people logging in an out
call starts about 19:55 mark lasts about 5min

My name is Roger Rowell CFO of Thresher industries
also on phone is Luke ???? Legal Counsel
to clarify the letter of intent THresher received 3/9/10
Thanks to Shareholders..........
LOI approved by Thresher Industries, several hurdles need to occur
for offer to be executed
LOI offer is to purchase all O/S for one penny Offer is subject to full DD
by offerer Offer is nonbinding until all parties agree to all terms /conditions
and sign formal documents on closing date Close date will be April 30, 2010
after which LOI is null & void
Offer is to buy 100% of issued and outstanding and considered to be a mini tender offer DD should take no longer than 20 days The required documents
would be a minimum of all filings and financial statements as per OTC disclosure
Close date is dependent on completion of DD.
LC - Luke ?????
Hello everybody As far of LOI and offer to purchase al the shares is considered a mini tender in SEC Series of document need to be filed with the SEC and approved by the SEC for a mini tender to be executed. at that point when we have a preliminary approval We will send out a information statement under section 14 to all shareholders of record street and beneficial outlining terms of tender offer and a proxy on the matter there is going to have to be a
% of shareholder have to agree with it to move forward all should come out in the DD phase which should be about 20 days once we pour through their
financial statements and get in contact with their legal counsel and start discussing how the tender offer is going to take form After that there will be more news from company to shareholders We are in DD phase and responding to offer We will put out a press release when we have more news
CFO -- thanks........
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