Crazy,
As I mentioned, I spoke with Ric Charron, CFO of Net Shepherd, yesterday. Below is a summary of what he was able to tell me.
• Net Shepherd acquires Answers.com in exchange for 400,000 shares – there is no cash involved in the deal;
• ideaLab! will not get a seat on Net Shepherd's board;
• ideaLab! wanted to slim down its holdings, and Net Shepherd can use its proprietary technology to significantly decrease the costs of operation of Answers.com;
• Bill Fogg, CEO of Answers.com, works for ideaLab! and is an IT entrepreneur (am awaiting a CV from Net Shepherd). He has also been involved in a number of IPOs;
• Revenue is on target for 1999 – they are typically a 3rd and 4th Q company, with business development occurring in the first two Qs;
• What can we look forward to in the next three months?
–– Nasdaq is progressing according to plan,
–– A lot of deals in the works with Dun & Bradstreet, in Holland, et al.
That's it for now. I'll post background on Bill Fogg when I receive his CV, and more from the AGM when I receive the minutes.
Denise. |
