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Microcap & Penny Stocks : Corporate Vision (CVIA)

CVIA 0.480

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Jun 30 5:00 PM EST

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To: Exon who wrote (6367)	8/24/1998 12:32:00 PM
From: Kenny Low	Read Replies (1) of 6654

More (condensed) News: biz.yahoo.com Monday August 24, 11:59 am Eastern Time Corporate Vision no longer seeks merger TULSA, Okla., Aug 24 (Reuters) - Corporate Vision said Monday it is no longer seeking a merger candidate, but will instead sell some of its assets and issue preferred shares to raise initial working capital for public offerings. The company said that, based on existing business models, Corporate Vison had the tools and expertise needed to become a holding company. The merger candidates were more enthusiastic with the holding company concept as opposed to a direct merger with Corporate Vision, it said in a statement. The company has been in negotiations with private companies seeking to go public through the Corporate Vision shell. In order to secure funding for its first public offering, software company Phipps and Co. of which it owns 25 percent, Corporate Vision will be seeking to raise the initial working capital. It said it does not foresee significant equity dilution of its stock. After the public offering, Corporate Vison will retain a percentage of Phipps stock. More Quotes and News: Corporate Vision Inc (OTC BB:CVIA - news) Related News Categories: IPOs, US Market News

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