To: pitchlyn who wrote (14248 ) 6/9/1999 11:15:00 AM From: pitchlyn Respond to of 15987
Just read May 26th release for PKDV -- INCREDIBLE! Wednesday May 26, 12:27 pm Eastern Time Company Press Release REPEAT/Pan Chiao Development Enterprise Co. Ltd. Completes Sale of Sky Tower Superstore to Pan Kai Development Inc. TAIPEI, Taiwan--(BUSINESS WIRE)--May 26, 1999--Pan Chiao Development Enterprise Co. Ltd. announced that it has completed the sale of Sky Tower Superstore to Pan Kai Development (USA) Inc. (OTC BB:PKDV - news). Pan Chiao Development Enterprise accepted 4,218,750 shares of Pan Kai Development (USA) as full payment for the $50,625,000 sale price of Sky Tower Superstore. The stock of Pan Kai Development (USA) has been evaluated in conjunction with this transaction at $12 per share. Pan Kai Development (USA) owns 48 percent of Pan Chiao Development Enterprise of Taiwan. Pan Kai Development (USA) will use the buying power and business relationships of the Sky Tower Superstore to become a major wholesaler and distributor of Asian goods for the United States. With more than 15,000 items in the inventory of Sky Tower Superstore, Pan Kai Development (USA) can become the premier wholesaler/distributor of Asian food products in the United States and Canada, catering to medium and large retailers. In preparing the warehouses for the commencement of the distribution operation, Pan Kai Development (USA) has awarded a contract to Internet Outlet Marketing Corp. to develop the Electronic Data Interchange (EDI) system for the company. Internet Outlet Marketing will also develop a Web site for Pan Kai Development (USA) and Pan Chiao Development Enterprise at www.pankai.com. This release may contain forward-looking statements that involve risk and uncertainties, including without limitations, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes. ------------------Just how long do you think this stock will sell for a dollar/share? Does anyone out there have any info on this company?