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Microcap & Penny Stocks : Zia Sun(zsun)
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To: Sir Auric Goldfinger who wrote (9035)7/30/2000 7:45:25 PM
From: StockDung  Read Replies (1) of 10354
 
TheTruthSeeker.com (TTS), July 30th 2000 announced that it is considering proposals received for the purchase of part of its e-commerce portal "BigAsia4Sale'' (www.bigasia4sale.com). The company has received letters of intent from Iaasic Onigwecher of Tortola and many other offshore entities. Offers for wholly-owned subsidiary BigAsia4Sale.com Ltd keep flowing in by the minute from venture capital firms and potential strategic partners involved in manufacturing in Asia. The board of directors, at its July 30th meeting in Newton, resolved to make a final decision on the sale within the next several weeks. What TheTruthSeeker will demonstrate from this potentially profitable sale of part of BIGAsia4Sale.com will be it's ability to identify and acquire competitive Internet businesses and then rapidly convert them into profitable entities that generate substantial returns.

The company reported that its board of directors is presently evaluating and conducting due diligence regarding the various offers that were recently presented and believes a sale will generate between US$5.2 million and $20.5 million in cash to TheTruthseeker.com, depending on what percentage of the subsidiary is sold. It is the company's plan to retain a substantial portion of the subsidiary.
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