Upon completion of the due diligence process the parties will enter into a definitive agreement and initiate an audit of each component companies. The final agreement will include new appointments to the board and officers of the parent company as well as a name change
We will continue to update our shareholders and the investment community as events unfold.
Many of us are not surprised at all. When I see phrases like "Upon completion of the due diligence process the parties will" I just shake my head. In the first place, it should read "Upon successful completion of the due diligence process the parties intend to".
I believe db2 called it on the day of the PR: IF the company is legitimate, once they see the liabilities of becoming a part of a company with a history of fraud, they will walk away...
G4E, you really need to make the call. You seem like you feel like you have been ripped off and that is a terrible way to feel. And if the SEC has the funding to go after penny stock companies, I say go get 'em!