PCES - paid $4.75 Million by 3M Corp!!! Message Board

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Microcap & Penny Stocks : PCES - paid $4.75 Million by 3M Corp!!!

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To: Brad who wrote (242)	7/19/1999 11:53:00 AM
From: Brad	Read Replies (1) of 523

The $750,000 escrow money should be resolved this month (in reference to the asset sale to 3M last November). From page 5 of the 10Q of May 10, 1999... sec.gov "The purchase price of the Transaction was approximately $5.9 million, including $4.75 million in cash, of which $750,000 was originally placed in escrow to be held until July 1999 to secure the Company's indemnification obligations under the Asset Purchase Agreement, plus the assumption of substantially all of the Company's liabilities other than $2.1 million in line of credit balances, which were paid off from proceeds at closing." This $750,000 plus the $1,292,373 in the Cash Account equals the $2,042,373. (More Info Later)

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