This message is from AOL 2 weeks ago:
Subj: Re:Where Are They Now????
Date: 97-07-28 02:49:13 EDT
From: DavesLexus
HBall
The scenario ( for me) goes like this:
1. PWPH does the cigar deal and that brings cash and immediate revenues to the company. I think this deal will get this stock on the right track to being healthy. The details are close to being announced.
2. Reyes (it is rumored ) will put a new company together and takes it public. If there's "proven" evidence of it being everything you want then go with it...and take the deal the new TMC offers. Obviously, if there is the same ambiguity as before then leave it alone.
It looks like we may have some choices, but we will have to wait and see. For me, I believe, changes needed to be made, and it is my best assessment things are moving in the right direction..
daveslexus
It seems that PWPH is taking the TACN name and shareholders, buying a cigar company, and presumable kicking Reyes and his many projects out (? slaughterhouse, urea, sawmill). So what assets are left? It's going to take alot of the current-priced stock to buy anything. Does this mean issuing more shares and dilution?
PWPH shall retains its name and public company status and TACN shall revert to privately held companies. All parties are free to pursue any and all mergers, acquisitions or ventures identified during the merged period.
Power Phone Inc. (formerly known as TMC Agroworld Corp. and presently trading under the symbol TACN Nasdaq BB) announced today that it has acquired the Dominican Cigar Corp. of Boca Raton.
TMC <TACN.OB>, Power Phone merger disolved
NEW YORK, Aug 14 (Reuter) - TMC Agroworld Corp said
Thursday it has dissolved its merger with Power Phone Inc., and
that TMC shall revert to being a privately held company.
Power Phone, which will retain its name and public company
status, said it has acquired Dominican Cigar Corp for an
undisclosed amount of stock. Power Phone's stock symbol will be
TACN.
The terms of the TCM/Power Phone merger agreement have not
been complied with because of situations beyond the control of
the parties, TMC explained without elaborating. In a separate statement, Power Phone said Don Platten,
president of the Dominican Cigar has been appointed as
president and chief executive officer of Power Phone.
It said Dominican Cigar markets a premium cigar under the
brand name of "Don Carlo" with more than 50 distributors in the
United States. Dominican Cigar has monthly revenues of $76,000
and pretax profits of $33,000, and owns a 50 percent interest
in the Don Carlo Cigar Factory in Santiago, Dominican Republic,
valued at $2.9 million, in addition to tobacco reserves
sufficient to manufacture an additional 3 million premium
cigars over the next 18 months.
Platten said the merger gives Power Phone "an identified
premium product with ongoing proven marketability and orders on
hand exceeding $2 million." |
