NewMarket Technology (fka NWMT)

[sbc357]

OK, Charleoi,
Evidently the information I received did have some measure of error to it. You are correct in stating that IPV Communication acquired VergeTech and not the reverse, as I had been told.
I have searched and found confirmation with documentation, one small example being this headline:

"April 9, 2002 IPVoice Communications, Inc. (www.ipvoice.com) announces the appointment of Mr. Philip M. Verges as CEO and
Chairman. The appointment is made in conjunction with the previously announced agreement for IPVoice to acquire Dallas, Texas, based VergeTech, Inc"


I have also seen a small bit of the financial agreement, but have not had a chance to find the SEC documents yet that state exactly how much was given from whom and to whom and in what form (cash, equity, etc.) and with what restriction or conditions applied.

These are the issues that you seem to keep harping on for us to find out so that we understand where monies (and other assets) are changing hands, and thus who's loyalties are to who. Who has control financially and who is pulling the strings.
Evidently, at the time of the merger IPVoice had 60MM shares at a share price of .05. A note was given to VergeTech in exchange for VergeTech assets. The note was to be repaid to VergeTech owners in IPVoice stock (IPVO stock -> NMKT)

http://www.vergetech.com/who_news_article.asp?id=8
"IPVoice is acquiring VergeTech in a debt transaction. IPVoice will issue a note to VergeTech shareholders in exchange for the operational assets of VergeTech. The note will be repaid over time in IPVoice stock."

I do think My-2-cents has done an excellent job outlining some of this, although I have been informed that some of the assumptions are ill placed. Thank you My2 for you extensive work on this issue.

It will take me a while to find and read the SEC documents to understand what the actual agreement between Augustine and VergeTech was. Thanks for your help and patience.