To: Renamed who wrote (1719 ) 8/26/1999 1:44:00 AM From: Renamed Read Replies (1) | Respond to of 2118
So quiet here...FYI/From RB By: NanCE+ Reply To: None Thursday, 26 Aug 1999 at 12:13 AM EDT Post # of 32246 Hi ALL I think this will clear up alot of confusion This describes the offer. I have a little of both to be safe. May get more GAAY stock tomorrow. It looks like GAAY will still be a separate company afterwards anyway. It says in paragraph D that the share will be available for exchange. Does everyone think that some people will hold on to their GAAY stock? Nan (a) Integrated Healthcare, Inc. (OTC BB:GAAY - news) will acquire Palm Springs Television Studios, Inc., a private company from its private stockholders, which is currently in "mid-merger" with Triangle Broadcasting Company, Inc. (OTC BB:GAAY - news) Broadcasting for Preferred Stock in ITHC and cash. The Cash will then be invested into the completion of the Bingo and Auction programming which will make these two programs available for syndication far ahead of schedule. (b) ITHC will acquire the licensing for the Television Channel which is also in "mid-merger" with Triangle Broadcasting for Preferred Stock in ITHC and cash. (c) The Preferred Stock of ITHC which will be issued to all insiders, management and used for acquisitions of both (a) and (b) above. It will be structured into a voting trust to be controlled in majority by existing Triangle management. Each share of preferred is convertible to common stock only after a three years from the new date of issuance and can only be sold on a limited basis until year five of maturity. This will assure Triangle of management involvement on both major and minor issues with respect to running the company. (d) ITHC shall acquire all of the assets of GAAY the publicly traded company for common stock of ITHC. The stock shall then be available for exchange with existing GAAY shareholders on some basis as provided by some "moving day average" of both stocks and the ITHC market value as set forth in the marketplace prior to the asset purchase. The ITHC Common Stock shall be used in the purchase of the assets and the exchange of the GAAY Common Stock if the shareholder elects to exchange. These shares will then be registered under a Registration Statement so that they will be "Free Trading" securities in the marketplace. (e) Depending on the asset value of all the acquisitions (post GAAY) Triangle MultiMedia, Inc. (Proposed symbol "QBID") will attempt to list on a regional stock exchange or NASDAQ. (f) The "Olsen Division" (working title) headed by Frank Olsen will focus their efforts on the acquisition of stations, affiliates, hardware and pre-existing content. This division will operate autonomously from the day-to-day operations of Triangle MultiMedia Inc. The "Mission Statement" of this division is to seek out acquisitions and acquire them for a price below their book value. We would like to see the Preferred Stock or a combination of the Preferred Stock, Common Stock and Cash be used for these acquisitions provided the marketplace "shows" a solid value for the stock.