Wednesday, February 23, 2011 5:24:24 PM
The Company is currently in merger or acquisition negotiations with entities which management believes to be key components of the Smart Grid solutions we envision. Management believes that acquisitions will be a catalyst for advancing the Company’s existing technology to attain greater market share. We are currently in valuation negotiations with the targeted companies; acquisitions will be primarily share exchanges. Additionally, we are seeking capital financing for the purposes of furthering our plan of operations. These negotiations have not advanced, at this point, to an issuance of a letter of intent; however management believes this ongoing strategy will best serve existing shareholders.
The Company has been approached as a potential target for acquisition. Preliminary discussions were brought to the attention of the Board of Directors. Although negotiations have not advanced, we believe that those discussions were validation of our technology. Management and the Board of Directors are aware of our position and potential of our technology and will consider any offer that increases shareholder value.
A legitimate buyout of one dollar or more and I would be happy.
link to 10-q (The selected paragraphs above can be found on page 17):
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7743207-1151-107590&type=sect&dcn=0001079974-11-000149
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