I found at Freeedgar site that the Kiosks had been purchased by ENTR.
Here are the points of interest I found.
freeedgar.com
On June 2, 1998, the Company completed a merger of the Company and
Links, Ltd., a Wyoming corporation, whereby the Company was the survivor.
Pursuant to the Articles of Merger filed in the respective States of Nevada
and Wyoming, the Company's name was changed from Walnut Capital, Inc. to
Enter Tech Corp. to more accurately describe the proposed business of the
Company. Pursuant to the Agreement and Plan of Merger, the Company was to
issue 2,400,000 shares of its common stock to the sole shareholder of Links,
Ltd., Mach One Corporation, a public company. Prior to the merger
transaction the Company had 1,250,000 shares of its common stock issued and
outstanding, of which 835,000 shares were canceled as part of the merger
transaction. On the effective date of the merger transaction the Company had
3,650,000 shares of its common stock issued and outstanding. Thus, Mach One
Corporation currently owns approximately 65.7% of the issued and outstanding
common stock of the Company and it is essentially a majority-owned subsidiary
of Mach One Corporation.
The Company is a successor to Links, Ltd., a Wyoming corporation,
incorporated on August 18, 1997, which was a wholly-owned subsidiary of Mach
One and was a development stage company for accounting purposes. The Company
and its predecessor has had no revenues from operations from its inception.
Links, Ltd. was incorporated for the purpose of developing kiosks, or vending
machines, through which to market computer software, music and possibly
digital video products. As conceived, each kiosk vending machine would have
software, music and eventually digital video stored on disks or hard drives
and potential customers would place an order into the machine to purchase
software, music and eventually digital television from a menu, triggering the
machine to imprint the product on a compact disk ("CD"). As conceived, the
CD imprint time is expected to
take approximately 3 to 4 minutes, at which time the CD would be ejected from
the kiosk to the waiting customer. Purchases would be made by use of credit
cards or so-called smart cards read by the kiosk. As conceived, each kiosk
would be linked by telephone line and computer modem to the Company's
administrative offices to permit monitoring, performance analysis, addition
and subtraction of software and music selections and eventually digital
television selections. Further the telephone and computer modem would permit
confirmation of credit card and smart card purchases.
Links, Ltd. had, through outside vendors and some in-house expertise,
constructed a prototype of a proposed kiosk at the time of the merger
transaction. Since that time the prototype has undergone further refinement
and modification. At this time additional modification and testing is being
undertaken by an outside vendor/engineering firm located at Broomfield,
Colorado. The Company has no firm date as to when it will be able to begin
mass producing the kiosk; however, management is hopeful such production will
commence in the next few months. It currently has orders for the purchase of
thirty units at $50,000 per unit from Dr. A. W. Hogan, who is also a member
of the Company's board of directors. The Company, as a successor to Links,
Ltd., has a contract with Dr. Hogan for the marketing and administration of
sales through certain identified locations and the division of profits after
Dr. Hogan has recovered his cost.
There is no assurance that the kiosks will function as planned, be
manufactured at a unit cost as anticipated nor be ready for delivery within
the next few months. All of these factors will bear on the Company's ability
to generate revenues from any projected sales. The Company is currently
seeking funding in the form of equity and debt financing from independent
sources. The initial funding is for $500,000 which is expected to be utilized
over a period of six months for research and development, manufacturing, if
appropriate, marketing and administration. The Company has not finalized the
terms of such funding nor located purchasers committed to such funding.
COMPETITION
|
