Salamon Group, Inc. (fka SLMU)

[Andrew John]

DSTI taking over SLMU's debt must mean the share exchange agreement is completed, or at the very least, SLMU's major shareholders, primarily insiders, must have tendered their shares.
WHY ELSE WOULD DSTI ASSUME THE $15 million in debt???

Based on the press release, I am not sure what SLMU had to give to DSTI, or what DSTI had to give SLMU. No information was given in the press release. I do know a company would not assume any debt, especially $15 million, for nothing, this said, what was, or has been, or will be exchanged between the 2 companies.

I would imagine it is a good thing for SLMU to unload the debt, but will SLMU have any business operations moving forward???

Another question would be: On March 31, 2012, SLMU had $30 million in debt. $15.6 million was due to the SLMU CEO. I am 'guessing' that the debt DSTI took was SLMU's CEO's debt, and the rest will remain in SLMU.

I dont know for sure, especially considering that SLMU was unable to file there Q for the June ended quarter.

In closing, It is always good anytime a company can get rid of debt. In this case, is SLMU still in business and if not, what will happen to shareholders stock and is there a tender offer still in place for SLMU shareholders. If there is an active tender, what is the timeframe. I would think considering that DSTI took over the debt, the TENDER must be done within 30 days, or it has already been completed.