Wednesday, October 03, 2012 2:51:25 PM
As you read the next two paragraphs, keep in mind that the "Company" is Core Wafer Systems, Inc. and "Merger Corp." is APII registered in NY, not Florida.
More than a week into the third quarter, APII NY still has an active and unmerged registration in NY. The registration of CWS in Nevada also shows no signs of a merger. ACTION PRODUCTS INTERNATIONAL. INC., a Florida corporation ("APII") has changed its name and symbol, presumably by merger with the NEW entity COREwafer Industries. At least, both entities indicate a merger filing, though not specifically with what other entity.
According to the Merger Agreement cited above, the merger has not become effective.
Of course, it is entirely possible that they amended the agreement and are doing something different. After all, they filed a dissolution of APII Florida on May 1, 2012, effective July 27, 2012, only to file a revocation of dissolution just prior to filing the merger with Corewafer Industries. (Do these guys and all their pinkie-stock-paid consultants know what they are doing or what?) If the merger agreement was amended, one can only wonder how and why. Why is APII NY still a separate entity? In any event, the closing of the merger has not been announced, so I don't believe that it has actually happened. And if it hasn't happened, CWS shareholders, all two of them, don't have shares to sell, even if they could sell them.
Audited financials have been predicted for weeks (months?). I'm just wondering how they'll manage financials when they don't appear to even have a merger.
"Incroyable!"
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