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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU)
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To: Brady B. who wrote (8734)6/11/1998 4:43:00 PM
From: BlueFox  Read Replies (2) of 18444
 
If you read Item 5 of the 8-K you will find that Netvest was only holding the Zulu stock. Whether this was collateral or whatever ever, it says no where that the stock was signed over to Netvest. It was exchanged.

A bit of a stretch there. We usually refer to shareholders "holding" stock, not "having stock signed over to them". The stock exchange was Netvest giving 12,000,000 shares of ZULU to ESVS for 220,000 shares of ESVS (both parties also exchanged some preferred shares too). We can assume Netvest must have held more ZULU shares than the ones it exchanged to ESVS, since it reportedly sold its stake in ESVS and ZULU to CIE.

Now, whenever Zulu satisfies its obligations with netvest the stock will go back to zulu.

I think there's some confusion here. Netvest held ZULU stock and exchanged it. With the sale to CIE, Netvest is out of the deal, and holds nothing to give back to ZULU.

Otherwise why would zulu even be mentioned any further in the 8-k and be in for the split.

The answer is in item 5 of the 8-K:

"Netvest and certain of its limited partners may hold shares of ZULU-
tek Common Stock and therefore, while each of the parties disclaim 
beneficial ownership of each other's interest, Netvest may be deemed 
to be an affiliate of ZULU-tek."


BF
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