Replies to post #2382 on Wise Investments (WISE)

[Art2Gecko]

Corporations are state - registered, there can be more than one corporation for a given name. The confusion arose when whatever news recognition software all the news providers use picked up the name "celerity" it spat out CESY, since that was the only "ticker" with the name Celerity, since the Celerity-Systems in the PR was just a division of Level-3 (LLL-NYSE)

Of course there were some unscrupulous posters on the RB thread who were spitting out the news as gospel, and that didn't help matters. I wonder how this will all play out, especially since a lot of the news providers released the news with the CESY symbol....

[Scrooge McDuck]

dsertrat, I think I have it figured out........
None of the information issued has been completely honest.

From the CESY Aug 14 10Q;
The Company has an investment in a wholly-owned subsidiary called Celerity Systems, Inc., a Nevada corporation ("Celerity NV"), which is engaged, either directly or indirectly through third parties, in the production, sale and distribution of digital set top boxes and digital video services. On May 20, 2003 the Company transferred certain assets and liabilities to Celerity NV in exchange for 100% of the common stock of Celerity NV. The transaction has been recorded at the book value of the assets and liabilities transferred.

In effect, this was a merger between CESY and Celerity NV.
It appears that CESY is indeed a subsidiary of L-3 and all those assets, shares, etc of Celerity NV have now been sold to ARXX.
It looks as though CESY, the one trading for .0035, is now an empty shell.

Also, from your post were you posted two links to the "different" companies;
If you go to the first link and read the March 25 PR, at the very bottom is a link to the second site,(your second link), and they are one in the same.

Bottom line,CESY, Celerity Systems Inc. has been gutted.