Here's an unusual tidbit. What ever happened to this deal?
Netmaster Group Offers to Invest in Network Six, Inc.
PR Newswire, Tuesday, September 02, 1997 at 13:00
NEWPORT, R.I., Sept. 2 /PRNewswire/ -- NETMASTER GROUP
(BB: NETZ) submitted an offer today to invest $1,500,000 in
NETWORK SIX, INC., (Nasdaq-NMS: NWSS) as a passive investment.
Mr. Miller, Netmaster's Chairman, said, "Our group has carefully analyzed
the financial condition of Network Six and believes a conditional investment
in Network Six could be of great benefit to both companies."
The conditions proposed by Netmaster provide for Netmaster to settle the
Hawaii litigation of Network Six and replace and reduce its bank debt
immediately.
A spokesman for Netmaster said, "Network Six has excellent growth and
profit potential, however, neither Wall Street nor its shareholders can take
the company, its potential or its stock price seriously while its entire
future is in jeopardy and subject totally to the Hawaii lawsuit and its
eventual outcome.
"If Network Six does not resolve the litigation in a timely fashion, its
stockholders' equity, its listing and its ability to bid on future business is
in absolute jeopardy. Any adverse ruling or protracted litigation would wipe
out the entire company," he said.
Netmaster said it hoped that its offer of financing and settling the major
litigation would be favorably received by Network Six and its shareholders.
Netmaster acquires and finances software integration and Internet related
concerns, and recently acquired echoMEDIA, an industry leader in interstitial
advertising on the Internet.
SOURCE Netmaster Group
-0- 09/02/97
/CONTACT: Wall Street Equities Investor Relations, 401-846-1100/
Companies or Securities discussed in this article:
SymbolNameNASDAQ:NETZNetmaster Group IncNASDAQ:NWSSNetwork Six Inc
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