IPKL - iPackets International, Inc. (Bulls Board) Message Board

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Technology Stocks : IPKL - iPackets International, Inc. (Bulls Board)

IPKL 0.00001000

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Oct 31 9:30 AM EDT

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To: xcentral1 who wrote (123)	9/29/2007 12:41:31 PM
From: alenor	Read Replies (1) of 138

It should work but somehow never got sold, as far as I know. News you missed: "VANCOUVER, BC--(MARKET WIRE)--Jul 31, 2007 -- iPackets International, Inc. ("iPackets" or "Company") (Other OTC:IPKL.PK - News), a developer and provider of wireless communications software and equipment for the mine-safety industry, announced today the execution of a letter of intent ("LOI") with privately held, U.S.-based SubterraCom Wireless Solutions ("SWS"), whereby SWS would acquire substantially all of the assets and operations of iPackets. In accordance with the terms and provisions of the LOI, iPackets is proposing to sell to SWS substantially all of its assets for the aggregate consideration of approximately $2,700,000. The proposed transaction is subject to financial and legal due diligence, and execution of a definite asset purchase agreement. The parties expect to execute the asset purchase agreement within the next thirty days. The iPackets team will join SWS and be involved in the day-to-day operation of SWS. iPackets and SWS have also entered into a product and technology distribution agreement pursuant to which SWS has been designated as the exclusive distributor of iPackets' products. The distribution agreement will enable SWS to commence sales and marketing activities to the mine-safety industry until the execution of the asset purchase agreement. Post asset purchase agreement execution, iPackets shareholders as of end of business day July 30, 2007 ("Record Date") will receive a one time cash dividend from the asset sale net proceeds. Further information on the cash dividend distribution will be communicated to shareholders in subsequent press releases. iPackets shareholders will continue to hold their shares in iPackets post transaction closing and receipt of cash dividend..." Only shares owned BEFORE Aug 1 may get a dividend. Believe it when you get it only. Now, only a shell with lots of shares implying a RS (1 for 1000 or more) if ever a RM occurs.

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