CXI-Commodore Environmental Message Board

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Strategies & Market Trends : CXI-Commodore Environmental

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To: KewlHand who wrote (1597)	6/6/1999 9:38:00 PM
From: Ken	Read Replies (1) of 1755

ATEG signed a non-binding letter of intent to acquire CXOT. ATEG is virtually broke and may not be a going concern by August. From their amended S-3 filed in March: ''American Technologies had incurred net losses of approximately $9.64 million. If we do not sell any additional securities and sales do not increase significantly, we will be out of money by April, 1999.'' "Further, in connection with the proposed merger of American Technologies with Commodore Separation Technologies, Inc., we may receive certain bridge financing in the amount of $1,300,000. No specific source nor specific terms for the bridge financing have been determined however it is anticipated to be a short term loan. Negotiations are ongoing with several sources of funds. There can be no assurance that we will obtain any of the financings or complete the merger with Commodore."

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