Hmmmm, seems like Flyguy30000 was right after all....
"Posted by: Flyguy30000 Date: Saturday, August 22, 2009 7:49:51 PM In reply to: dfairlite who wrote msg# 42323 Post # of 42349 [Send a link via email] Zenergy did a reverse merger. I would speculate that it was an asset only deal. That means that the "old" Zenergy is not applicable. The finanicals right now are of the old public company until Zenergy completes a full quarter.
Sorry but that is not true. Zenergy did a Reverse Acquisition which is different then a reverse merger. The PR is shown below. Zenergy was a private company that bought this shell by an acquisition which means the old company, management and crew are gone forever. There is a difference between a reverse acquisition and a reverse merger. With a reverse acquisition as Zenergy HAS done here they buy the shell and the old company and old management are gone. With a reverse merger, which Zenergy did NOT do, two (2) companies join and it is both old and new companies. Zenergy did a reverse acquisition to take over this shell as a public trading platform and nothing associated with the old company or the old management exists. Totally new public company and management here now trading under the new ticker ZENG. They could release their financials based on the time they were a private company. It is correct that the ACQUISITION was completed on 06/23/2009 and the new ticker ZENG to reflect the completed ACQUISITION to Zenergy was issued on 07/31/2009 (3 weeks ago).
Distinction between Mergers and Acquisitions...
"When one company takes over another and clearly established itself as the new owner, the purchase is called an acquisition. From a legal point of view, the target company ceases to exist, the buyer "swallows" the business and the buyer's stock continues to be traded."
From the PR...
June 23, 2009 10:01 AM Paradigm Tactical Products, Inc. Completes Reverse Acquisition of Zenergy International, Inc. Spearheaded by Robert Luiten Distinguished Chemical Commodity Executive - Marketwire
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