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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU)
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To: Mr. Jens Tingleff who wrote (8872)6/14/1998 7:47:00 PM
From: aleta  Read Replies (3) of 18444
 
Hello Mr. Tingleff,

Good to see you back! Below is a little something I picked up about reverse mergers today. Last week I believe I asked if ESVS might be buying ZULU stock. I think I may have had that thought in reverse. Could ZULU be buying ESVS stock instead to facilitate a reverse merger?

A "reverse merger" is a method by which a private company goes public. In a reverse merger, a private company merges with a publicly listed company with no assets or liabilities. The public company is also called a "shell" corporation). The publicly traded corporation is called a "shell" since all that exists of the original company is its corporate shell structure. By merging into such an entity, a private company becomes public.

The private company merges into a public company and obtains the majority of its stock (usually 90%). The private company normally will change the name of the public corporation (often to its own name) and will appoint and elect its management and Board of Directors. The new public corporation will have a base of shareholders sufficient to meet the 300 shareholder requirement for admission to quotation on the Nasdaq SmallCap Market.

I know that ZULU isn't a private company, but couldn't this same process apply to an OTCBB company trying to gain NASDAQ status?

Cheers,

Aleta
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