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Gold/Mining/Energy : Tracer Petroleum (TCXXF)
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To: Hunter Trout who wrote (1182)8/30/1999 11:22:00 PM
From: Moneylover   of 1261
 
Message 9417701
If you go back and read the press release you will realize that this is a great opportunity for us to stay on the NASDAQ with shares in a great internet company. We will still get the opportunity for the Iran deal. Funding the Iran project will be more feasible under this scenario.Without this deal TRACER would have had very little chance to stay on the NASDAQ.
The oil interest are being spun off into a new public vehicle called Tracer International(each current Tracer shareholder will receive two shares of Tracer International - eZuz.com shareholders will not receive any of these shares). The Tracer which trades on the NASDAQ small cap market will change its name to eZuz.com and will be controlled by eZuz management - I.E. 7 member board consisting of 5 eZuz appointees and 2 from the "old" Tracer group. Matthew Keddy, President of eZuz will be be running the Day to Day operations of eZuz.com.
Therefore "Oil" and "Internet" won't be mixed. The final result will be two separate and distinct corporate entities. There won't even be any significant cross ownership due to the fact that the old Tracer is giving up 87% of its equity to current eZuz shareholders to acquire eZuz.com.
Assuming that Iran still hits, we could have a double whammy in our favor!
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