Another email sent out:
Thanks for the heads up since I don't read the message boards. I am 100% sure of closing. I am not sure as to when. We are planning on meeting with the attorney tomorrow to go over documents, such as financial statements, board meeting minutes, incorporation papers, tax returns, subscription agreements, other agreements, releases from the previous directors, past liabilities, shareholder list, stock structure, etc. Then he will prepare the merger documents. He thought it would only take a day to prepare. He may have a draft when we meet tomorrow. I am pretty sure we will close next week, but not 100%.
After we close Michael has easily one PR per week (mostly sales agreements, patent applications and new personnel.) We don't want to over do it and appear to be just a stock promoter.
As far as dilution, currently there is 38 million O/S with 18 million as treasury stock. After the merger there will be approximately 42 million outstanding. There will be no change is structure, i.e., reverse or forward split.
Orders are increasing for the product. Also many customers have expressed an interest in buying stock, once the merger is completed.
I think we should have the updated company information on the Pinksheet website tomorrow. I talked to the guy and clarified the loss of the domain. I am giving up the domain today, that is the reason for the email address change. |
