PANDACUS INC (OTC BB:PNDS.OB) Last Trade Oct 5 · 1.55 Change 0.00 (0.00%) Prev Cls 1.55 Volume 0 Div Date N/A
IVAT Industries, Inc. (Pink Sheets: IVTI), ("IVTI"), announces that it has entered into a non- binding Letter of Intent to acquire 100% of the issued and outstanding shares of Pandacus, Inc. Pursuant to the terms of the Letter of Intent, the parties are working to execute a definitive stock purchase agreement by October 15, 2001 with an anticipated closing of October 29, 2001. Prior to closing on the acquisition of Pandacus, IVTI has agreed to effectuate a four-for-one forward stock split. IVTI anticipates taking all necessary corporate action to complete the stock split after the definitive agreement with Pandacus is executed.