Replies to post #16715 on ((RAIN)) Rainmakers-Island

[The Rainmaker]

XMDC News: XTend Medical Corporation (XMDC) Discusses Corporate Structure
9:01 AM ET 11/19/09 | Market Wire

XTend Medical (PINKSHEETS: XMDC), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, released the following statement regarding their corporate structure:

"We've had several email inquiries as to the company's corporate structure regarding the press release issued on November 18th in regards to the upcoming asset purchase and merger with BioHarp. Our current authorized share structure will not change in order to effectuate this transaction. Our current capital reserves are also sufficient to consummate the asset purchase. We have began the process of converting preferred shares into common shares in order to insure the integrity of the company as we move forward to gain a listing on a higher exchange. There will be no need to alter our authorized shares whatsoever. In addition, the potential of the company in the future would justify us maintaining our current share structure with no plans to reverse the stock. Mr. Friedman and I feel strongly enough about the BioHarp that we will be utilizing our equity in the company to finalize any shares issued for the transaction. As for any delays perceived, it is my responsibility as CEO of XTend to insure the company has taken the proper steps to insure our valuation is at the greatest and we adhere to all U.S. and international tax laws and regulations. The company will finalize any merger opportunities, now and in the future, in the proper manner so as to insure the future of the company is not placed in harms way," stated Mr. Paul D. Lisenby, CEO of XTend Medical.

[Hedge Starz]

Wireless Age Provides Update on Newlook Discussions

Nov 18, 2009 17:16:38 (ET)


TORONTO, ONTARIO, Nov 18, 2009 (MARKETWIRE via COMTEX) -- Wireless Age Communications, Inc. ("Wireless Age" or the "Company") (PINK SHEETS: WLSA) and its controlling shareholder Newlook Industries Corp. ("Newlook") confirmed today they plan to complete a transaction whereby the ownership interest by Newlook in Wireless Age will be severed and the intercompany debt between the parties is settled.

On July 13, 2009, Wireless Age and Newlook announced that they were negotiating the terms of a debt settlement. Although specific details of the proposed transaction are not yet fully defined, the companies intend to settle a loan of approximately CAD$6,300,000 provided by Wireless Age through Newlook's transfer of certain assets, issuance of Newlook treasury common stock, return for cancellation of a part of Newlook's investment in the Company, payment of cash and loan forgiveness for the balance.

John G. Simmonds, CEO of Wireless Age stated, "Recently Wireless Age negotiated a settlement with the receiver and trustee of our former operating subsidiaries Wireless Age Communications Ltd. and Wireless Source Distribution Ltd. where we are able to settle a debt of approximately CAD$8,300,000 with a cash payment of CAD$750,000. In our negotiations, we felt that it was in the best interests of minority shareholders to obtain the bulk of Newlook's assets as consideration, along with sufficient cash from Newlook to settle with the receiver and trustee."

The settlement transaction will be subject to independent director, disinterested shareholder and regulatory approvals. Wireless Age intends to seek approval for the transaction as well as a proposed renewable energy strategy for the Company.