"June 9, 2006 - In our efforts to focus our company, there have been some developments taking place. Please read our press release for further details.
Click here for the press release.
Dr. Zoltan Kiss explains: Originally, Nanergy Inc. was formed by merging the assets of a public shell named Objectsoft and high technology assets contributed to the merged venture by the technology companies RESI and Accusealed.
In layman’s terms, the old Nanergy has been separated into two parts (after the legal documentation was completed). The part of the company owned essentially by the old shareholders of Objectsoft will now operate under the name of Xacord while the second part of the original company, the part which was involved in nano technology, will continue to operate under the Nanergy, Inc. name. The public shareholders of the original company, once the documentation has been completed, will hold shares in both Xacord and Nanergy, and both will continue as separate operating companies. (revised on June 13, 2006)"
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