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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU)
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To: JAC who wrote (6307)5/1/1998 2:03:00 AM
From: aleta  Read Replies (2) of 18444
 
JAC,

The only thing that I think people have been going by was the statement in the ESVS 8k of March 16, 1998. April 30, 1998 would have been 45 days after that date which was stated in the 8k as the deadline for ESVS receiving the audited financials from Zulu, in order for ESVS to have them to show to their shareholders.

I guess it was taken for granted that a legal document like an 8k was binding and if the audited financials were ready on time that Zulu would let their shareholders know.



ARTICLE VII

COVENANTS AND CONDITIONS

7.01 FINANCIAL STATEMENTS. Within 45 days after the date hereof, ZULU-tek shall cause to be completed an audit of its financial statements (consolidated with its subsidiaries) and shall pursue such audit for the year ended December 31, 1997 in a manner that will allow the audited financial statements to be available for the annual ENHANCED's stockholders meeting.

ENHANCED and ZULU-tek will deliver to the other unaudited consolidated balance sheets and summaries of earnings for each calendar month after the date hereof and continuing until the earlier of December 31, 2000 or the date on which one or the other shall waive the requirement. All such financial statements shall accurately present their financial position and results of operations and their consolidated subsidiaries for the periods covered hereby.
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