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Technology Stocks : Blank Check IPOs (SPACS)
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To: Glenn Petersen who wrote (1436)12/25/2007 1:09:59 PM
From: Glenn Petersen  Read Replies (1) of 3862
 
EHHA's announcement that it had been approached by some third party investors who might purchase shares specifically for the purpose of voting them in favor of EHHA's acquisition of XLNT pushed the warrants up 50% on Monday to $.90 per warrant. The common shares closed at $7.83. The warrants have a strike price of $6.00 per share, which means that they are still trading at a significant discount. Unless the management of EHHA does something dramatic before Friday, it does not appear as if they are going to close the deal. I would not be surprised to see another delay.

As of September 30, the certain of the insiders had leant the company $608,700. If the deal does not go through, the company will be liquidated and the loans do not get repaid.
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