HKPF a reverse merger in the makings
HKPF -- Hackerproof, Ltd.
Com ($0.001)
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Hackerproof Signs Letter of Intent to Acquire the Alcar Group
MONTREAL, Jan 12, 2006 (MARKET WIRE via COMTEX) -- Hackerproof Ltd. (OTC: HKPF) announced today it has signed a letter of intent to acquire 100% of the Alcar Group.
According to the letter of intent, Hackerproof will enter into a share exchange agreement to acquire the Alcar Group by way of a reverse merger transaction. It is expected that the company will sign a definitive share exchange agreement on or before February 1, 2006.
"We are pleased to be moving forward efficiently on the merger transaction," said Alexander Cavasin, President of the Alcar Group. "Becoming a publicly traded company will enable us to expand throughout North America rapidly and increase our corporate visibility with investors and customers," further added Mr. Cavasin.
About The Alcar Group
The Alcar Group represents a significant market opportunity due to a serious worldwide supply shortage of raw materials for polymers, a growing shortage estimated to reach over 6 million tons in 2006. The market price for the materials in question vary between $1,000 and $3,000 per metric ton and the Alcar Group has developed a patented process and bioreactor which allow production at costs savings of up to 40% when compared to current production methods, translating in gross margins of over 50%. With the planned expansion, the AGI production process will reach a total capacity of 120,000 tons annually of economical and environmentally friendly materials for polymers.
The Alcar Group Inc. (AGI) develops innovative-patented methods for petroleum independent fuel and plastics resin production (e.g. polyurethane) that significantly improve the offerings of its customers in the automotive, building products and recreational sectors. AGI operates three divisions, Alcar Advanced Materials Corp., which manufactures and distributes various proprietary non-petroleum based plastics and coating systems, Alcar Advanced Energy Systems Corp., which will manufacture and distribute high purity non-petroleum based ethanol and diesel fuels and Alcar R&D, an advanced materials research and development center.
Outstanding Shares: 2,697 as of 2005-10-27
Estimated Market Cap: 81 as of 2006-01-13 (based on Outstanding Shares as of 2005-10-27)
Current Capital Change:
shs decreased by 1 for 1000 split
Ex-Date:
Record Date:
Pay Date: 2005-10-27
