Equipment Leasing & Sales Corporation Announces Results From ItsSpecial Shareholder Meeting Held on June 30, 1998
SPOKANE, Wash., July 15 /PRNewswire/ -- Equipment Leasing & Sales Corporation (OTC Bulletin Board: EQLS) Wednesday announces that the following proposals were approved by its shareholders on June 30, 1998:
1) Approved the merger of Intelispan Ventures, Inc. into Equipment Leasing & Sales Corporation and the issuance of 15,235,000 post reverse split shares of common stock to shareholders of Intelispan.
2) Approved the authorization of a one-for-five reverse stock split and amend the Articles of Incorporation to increase the authorized shares of Common Stock from 20,000,000 shares to 100,000,000 shares with a par value of $0.0001.
3) Approved the issuance of 2,390,000 post reverse common stock split shares to seven identities for $239,000.
Even though these proposals were approved by the company's shareholders, certain items still remain to be completed before the directors can approve the proposals passed by its shareholders. There can be no assurance given that these remaining items will be completed allowing the directors to approve the shareholder proposals.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: the statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control. With respect to market evaluation of products and other risks will be detailed from time to time in the company's filings with the Securities & Exchange Commission.
SOURCE Equipment Leasing & Sales Corporation
CO: Equipment Leasing & Sales Corporation; Intelispan Ventures, Inc.
ST: Washington
IN: MAC
SU: SRP
07/15/98 16:49 EDT prnewswire.com |
