**NEWS**
November 15, 1999
Nextpath Technologies Files 8-K
Hillsborough, NC--NextPath Technologies, Inc. (OTCBB:NPTK) announced today that it has filed a Form 8-K with the Securities and Exchange Commission (SEC) and the NASD reporting its merger with Epilogue Corporation. Immediately subsequent to the merger, NextPath elected successor issuer status under Rule 12g-3(a) of the Exchange Act. The 8-K that was filed Friday, November 12, 1999, which is expected to be available through the SEC's EDGAR system within 48 hours, is NextPath's initial filing as a fully reporting company.
The merger agreement was adopted by the unanimous consent of the Board of Directors of Epilogue and approved by the unanimous consent of the shareholders of Epilogue on November 5, 1999. The merger agreement was adopted by the unanimous consent of the Board of Directors of NextPath on November 11, 1999.
Prior to the merger, Epilogue had 5,000,000 shares of common stock outstanding, which shares were exchanged for 150,000 shares of common stock of NextPath. By virtue of the merger, NextPath acquired 100% of the issued and outstanding common stock of Epilogue.
The officers, directors, and bylaws of NextPath will continue without change and the name NextPath Technologies, Inc. will be retained.
James R. Ladd, President of NextPath, stated, "Attaining status as a fully reporting company is evidence of our commitment to being publicly traded and to keeping investors informed. We also intend to press ahead with our plans to seek a Nasdaq listing."
NextPath Technologies, Inc. is a holding company that has acquisitions and strategic alliances pending that will allow the company to become a significant participant in a number of rapidly expanding technology market sectors. The company is in the final stages of negotiating agreements to acquire Sagebrush Technology, Inc. and Willow Systems, Limited. NextPath is also currently in the final stages of negotiations with several Internet and e-commerce companies. It is anticipated that the corporate strategies currently being pursued by NextPath will result in substantial increases in the profitability of the respective companies joining NextPath.
Certain statements in this news release may constitute "forward looking" statements within the meaning of section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ.
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NextPath Technologies, Inc. is Quoted on the OTC Bulletin Board as "NPTK"
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-- Hungry |
