News Focus
News Focus
icon url

watchdog11

07/22/05 11:21 AM

#4798 RE: mnfats #4789

Oh, it may never happen, but that won't be the reason. With Nevada corp. as long as the contol block (65% of shareholders) want the deal, it's a deal, no ifs, ands, or buts, and the insiders have more than 65%.

The reason this deal won't happen as currently proposed is that a public company cannot purchase a business and call it an asset purchase. If this was allowable you'd never see a company acquisition again. Why you ask? Because the method that is being used here is designed to avoid the audits required by the SEC and the SEC will not ever allow this thinly vailed transaction to fly.

Dog