Well GEEEEZZZ!!!!! It's about time!!
Electric & Gas Technology, Inc. Updates Its World Technology Systems Inc. WTS) Transaction
DALLAS, May 21 /PRNewswire -- Electric & Gas Technology, Inc. (Nasdaq: ELGT) advised that pursuant to the previous announcement on March 16, 1998, ELGT still owns its $500,000 convertible promissory note executed by WTS. The decision to convert the note into common stock of this privately held airline-related corporation is still a matter of the desirability relating to the further analysis of the WTS financial condition and further discussions with WTS management. In any event, WTS has confirmed their willingness to repay the $500,000 to ELGT. This announcement is being made to clarify any incorrect information.
Electric & Gas Technology, Inc. was formed in 1985 to serve as a holding company for operating subsidiary corporations. These subsidiaries operate in three distinct business segments: water products, natural gas equipment and electrical equipment/meter enclosures. The company is dedicated to internal growth related to its atmospheric water technology in addition to growth through acquisition.
This material was prepared by The Hawke Group, Inc. ("Hawke") for the Company discussed herein, based upon Company supplied information or other sources believed to be reliable. The information is not guaranteed by Hawke for accuracy or to be all inclusive. Forward-looking statements in this release are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities. Hawke, its affiliates, and/or its officers, directors and employees may from time to time have a position in these securities.
SOURCE Electric & Gas Technology, Inc.
CO: Electric & Gas Technology, Inc.
ST: Texas
IN: OIL UTI
SU:
05/21/98 15:45 EDT prnewswire.com |
