OtherChap, WOW. Talk About Calling The SEC. You Actually Will Go So Far As To Put Words Into Charles Rose's Mouth, Of Why The Deal Wasn't Pursued..
The Press Release Stated.
SOURCE: ZULU-tek, Inc.
Zulu Enters Into Strategic Relationship With Universal Commerce, Inc.
NEWPORT, R.I., March 5 /PRNewswire/ -- ZULU-tek, Inc. (OTC Bulletin Board: NETZ - news) said today it has rescinded its previously announced acquisition of Universal Commerce, Inc. (''UC'') and has entered into a strategic relationship with UC and its principals. The changes were due to accounting issues relative to SEC & GAAP Rules for ZULU.
Charles Rose, President of UC, said, ''I have worked closely with ZULU's current executives for some time and have assisted echoMEDIA in developing strategic Internet solutions. Our strategic alliance allows ZULU to take full advantage of the E-Commerce opportunities, using our UC state of the art commerce systems on the Net, while we remain independent to deal with other areas of commerce where ZULU has no interest.''
The ability of ZULU's Softbank Interactive division to utilize unsold banner inventory provides significant opportunities for E-Commerce growth for both UC and ZULU.
SOURCE: ZULU-tek, Inc.
You Stated.
>NEWPORT, R.I., March 5 /PRNewswire/ -- ZULU-tek, Inc. (OTC Bulletin
>Board: NETZ - news) said today it has rescinded its previously >announced
acquisition of Universal
>Commerce, Inc. (''UC'') and has entered into a strategic >relationship with UC and
its principals. The changes were due to >accounting issues relative to SEC & GAAP
Rules for
>ZULU.
translation: the merger fell through when either
a) Zulu couldn't afford to buy them because of lack of cash or falling stock price (if it was a stock deal)
b) UC started seeing all the sleaze reported by Wired and wanted to keep a safe distance.
in any case, you have to give the Zulu PR department credit. They manage to turn a collapsed aquisition into "Enters into strategic relationship"
i suppose if the company's stock is halted- the press release will read: "Zulu announces a cooling off period for its red-hot stock" |
