Looks like anyone in OCGT will be in a different kind of company...
"On March 16, 2005, OCG Technology, Inc. ("OCGT") entered into an Agreement and Plan of Merger with CenterStaging Musical Productions, Inc. ("CMPI") pursuant to which OCGT will acquire CMPI in exchange for OCGT's issuance of approximately 167,763 rumentshares of newly-created OCGT Series F Preferred stock (the "Exchange"), which will be convertible into OCGT common shares at the conversion rate of 10,000-to-1. Upon the closing of the Exchange, CMPI will become a wholly-owned subsidiary of OCGT. The Exchan e will result in a change of control of OCGT, since approximately 96% of OCGT's voting power will be acquired by the former stockholders of CMPI in the Exchange.
CMPI is engaged in the business of providing studio and equipment rental and performing production services to musicians and production companies nationwide on both a short-term and long-term basis. CMPI has more than 50 employees, with locations in Burbank, California and Bensalem Pennsylvania (30 miles from Phili delphia)." |
