LFWK -- LFWK Carries Momentum Through Final Formalities of Sulja Bros. Merger
NASHVILLE, TN, Apr 04, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. (OTC: LFWK) today announced that its imminent merger with Sulja Brothers Building Material, Ltd. is proceeding smoothly despite normal documentation and legal formalities. All should be finalized in the next days.
A company spokesperson confirmed that a highly regarded Madison Avenue law firm is in the final stages of producing the required merger documents, and that both companies have been provided with a Closing Documentation Checklist which is well toward its completion. According to Petar Vucicevich, Director-General of Consultech Construction Management, Inc., the parent company of Sulja Brothers, business is proceeding as if the merger has already been completed. "It's easy to let the nagging technical and legal details of this process slow down the progress of the merger," he said. "However, we see no significant barriers ahead, and we are excited by the opportunities resulting from the combined talents of these two companies."
Vucicevich also announced that revenue projections for Sulja should exceed $50 Million for the first twelve-month period following the completion of the merger. These projections are based on financial information available for viewing at www.sulja.com.
SOURCE: LoftWerks, Inc.
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