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Microcap & Penny Stocks : United Medicorp (UMCI)
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To: Due Diligence who wrote (1)8/25/1998 4:38:00 PM
From: Due Diligence   of 5
 
Spoke this afternoon to Mr. Culver CFO for UMCI and asked him about the acquistion financing. He said it was in the filings,but paraphrasing it as follows:

$1.00 for the stock
Assume $950,000 in payables
Receive $700,000 in assets

Also was told the acquistion was a long-time client of UMCI so the transition was accomplished with relative ease.
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