ETKA: .03x.045, reverse merger with Tradequest
ETKA announced they have entered into a letter of
intent with Tradequest Inc. a Utah corporation
engaged in the business of providing a barter
exchange for goods and services for business and
consumers. Tradequest's web site appears to be
located at:
tradequest.com.
Currently with 28,360,346 shares outstanding, they
declared a reverse stock split of 1 for 50, and will
issue 2,000,000 new post split shares.
11/21/2000 09/30/2000 10QSB
As of the date of this report, Management has entered
into a letter of intent with Tradequest Inc., a Utah
corporation engaged in the business of providing a
barter exchange for goods and services for business
and consumers. The principal terms of the proposed
reorganization are that the Registrant will declare
the reverse split of 50 to 1, change its name to
Tradequest International Inc. and issue 2,000,000 post
split shares to the shareholders of Tradequest. At
closing the current board of directors is to resign
and three nominees of Tradequest be appointed to the
board of directors. Closing of the reorganization is
subject to certain conditions including payment of the
Registrant's outstanding liability of approximately
$25,000, the purchase and cancellation of 5,000,000
currently outstanding shares of the Registrant's
common stock and the execution of an Indemnity
Agreement by the Registrant's principal shareholder,
Fond Mondial D'Investissement which will indemnify
Tradequest against any and all potential liabilities
of Ethika which may arise due to facts and
circumstances occurring over the past two years.
Execution and closing of a definitive reorganization
agreement cannot be assured. In the event the
Tradequest reorganization is not executed and closed,
the Registrant will return to its business plan of
seeking a reorganization candidate.
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