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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: SSP who wrote (67563)	10/19/2000 1:35:00 AM
From: Jim Bishop	Read Replies (1) \| Respond to of 150070

Steve, on ARCX you have impact date of Dec 29, but in reading their 8K I am inclined to think that Nov 26 should be the impact date. See the following from the 8K, which I'd say gives them huge incentive to close their MPT deal before Nov 26/2000. Note that the Evans referred to below trades as EVSI. "Under the terms of the Agreement, Affiliated will transfer to Evans all of the issued and outstanding common stock of ChemWay Systems, Inc., a Texas corporation ("ChemWay"), and wholly-owned subsidiary of Affiliated. Affiliated has also agreed to execute a promissory note in favor of Evans in the principal amount of $625,000 (the "Note"). Effective immediately, Evans and Way have agreed to take over management of ChemWay and to fulfill ChemWay's obligations to its creditors. The Closing shall occur on the earlier of (i) the first business day immediately following the day that Affiliated closes its acquisition of Modular Processing Technologies, Inc., a Nevada corporation, or (ii) upon obtaining shareholder approval for the transactions called for in the Agreement. In the event that neither (i) nor (ii) identified above occur on or before November 26, 2000, then the Agreement and the transactions called for therein shall automatically terminate. In the event of an automatic termination as set forth above, Evans and Way shall have the right to enter judgment against Affiliated and file a Deed In Lieu of Foreclosure upon the ChemWay assets.