ZIPL, .065 x .069, Big news ->
Majority stockholder makes offer to purchase outstanding Ziplink shares
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Ziplink (PN) (USOTC:ZIPL)
Intraday Stock Chart
Today : Monday 22 August 2011
Ziplink, Inc. (OTC Market Tier: ZIPL.PK) announced today that its majority stockholder, the Zachs Family, is offering to purchase any and all of the outstanding shares of common stock of ZIPL held by the public. The Zachs Family Limited Partnership #1 owns 6,814,305 shares of common stock of ZIPL. On October 29, 2010, Henry M. Zachs, the CEO of ZIPL, purchased 1,659,478 shares of common stock of ZIPL from Nortel Networks Limited (a Canadian company) at a price of $0.065 per share. As disclosed to Nortel at the time of such purchase, ZIPL has approximately $1 million in net assets and owns a patent (US Patent # 7,672,998) for a SPAM product which may or may not be of value. As a result of such purchase, the Zachs Family now owns a total of approximately 9 million shares, or 71% of the outstanding common stock of ZIPL, and is interested in purchasing any and all of the remaining approximately 3.7 million outstanding shares of common stock of ZIPL held by the public. The offer to purchase is at a price of $0.065 per share and will remain open until at least 5 p.m. on September 19, 2011. Anyone owning shares of common stock of ZIPL wishing to participate in the offer can sell their shares through their own broker. Those stockholders who have proof that they owed shares of ZIPL as of October 29, 2010 and have sold their shares to the Zachs Family during the first 48 hours from 8:00 AM Eastern Standard Time August 22, 2011 for less than $0.065 can submit proof of sale to Ziplink c/o Henry Zachs, 40 Woodland Street, Hartford, CT 06105 no later than November 30, 2011 and the Zachs Family will remit the difference to such stockholder. If you require further information regarding the purchase offer, you may contact Henry Zachs at hzachs@mcmgmt.com or 860-727-5702.
