Tulsa, Okla.-Based Firm Gaining Pipeline Access in Merger
By Paul English, The Daily Oklahoman
Aug. 22--Corporate Vision Inc. will gain access to about 2,000 miles of intrastate natural gas pipeline in Oklahoma under a pending merger, the company said Monday.
Corporate Vision said the merger agreement with Venture Planning Inc., a privately held Oklahoma company, also will provide access to New England-based real estate developments.
Shareholder approval will be sought by proxy vote on or before Oct. 1. Corporate Vision's name and stock symbol will be retained by the new company.
Corporate Vision is a developmental stage holding, venture capital and investment banking company.
Its quarterly report through March 31 showed revenues for the period amounted to $7,000. A net loss of $333,000 was reported for the quarter.
The company's stock hit a 52-week low on Aug. 17 at 23.4 cents. It 52-week high was $2.50 on March 6, 2000.
In its quarterly report, the company said that it has discontinued some operations and has a new strategic direction.
"Further, the company's ability to continue as a going concern is highly dependent on its ability to continue to raise sufficient operating capital," the filing said.
Corporate Vision's assets are mainly investments in its subsidiaries and potential subsidiaries and high-yield real estate properties.
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(c) 2000, The Daily Oklahoman. Distributed by Knight Ridder/Tribune Business News. CVIA,
CORPORATE VISION INC - CVIA
Price 0.62
Net Change +0.12
Volume (000) 137
Day High 0.69
Day Low 0.38
as of
08/23/00 08:42 AM EDT |
