ADRE --from 5 cents to 12 cents july 15,1998 Message Board

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Microcap & Penny Stocks : ADRE --from 5 cents to 12 cents july 15,1998

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To: francis terry who wrote (177)	9/8/1999 11:09:00 PM
From: JOE TURMAINE	of 216

francis, for those who may have missed this, >>AUDRE FILES JOINT PLAN OF REORGANIZATION ESCONDIDO, CALIFORNIA, SEPTEMBER 1, 1999 - AUDRE, Inc. and AUDRE Recognition Systems Inc. audre.com ADRE - NQB Pink Sheets), in conjunction with the Official Committee of Unsecured Creditors of Audre Recognition Systems, Inc., have filed a Joint Plan of Reorganization. Capitalizing on the support gained through a resurgent market response to the Company's "Automatic Choice"? software programs, the Companies have proposed to pay unsecured creditors by a combination of cash payments over five years and the issuance of new common stock. The plan proposes a continuation of business under the new name eXtr@ct, Inc. Existing shareholders under the plan would maintain a continuity of interest in the Company. The Company expects no significant opposition to the Joint Plan from its trade creditors or former shareholders. At this time, the only anticipated opposition comes from the Company's prior bankruptcy counsel, against whom the Company is investigating potential claims for professional negligence. The Court has scheduled a hearing on confirmation of the Plan for early November. << JOE

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