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Biotech / Medical : Cadus Pharmaceutical Corp. (KDUS) -- Ignore unavailable to you. Want to Upgrade?

To: stock leader who wrote (1424)	11/23/2005 12:12:30 AM
From: Glenn Petersen	Respond to of 1833

Actually, LQCI has not executed a reverse merger. After they shut down their operations three years ago, they did distribute $57.8 million to their shareholders: sec.gov Message 18311512 They subsequently executed a 1-for-250 reverse split, followed by a 35-for-1 forward aplit: Message 20327952 Two months ago, they entered into an agreement with Checkpoint Systems to acquire certain assets for cash: On September 8, 2005, the Company entered into a non-binding letter of intent with Checkpoint Systems, Inc. ("Checkpoint"), dated September 7, 2005, to acquire the assets of Checkpoint's Access Control division. The Access Control division designs, manufactures and distributes scaleable electronic access control systems and related application software used in a variety of security applications. On October 26, 2005, the Company's Board approved the transaction and on November 4, 2005 the parties entered into an asset purchase agreement which is subject to customary closing conditions and the completion of an audit of Checkpoint's Access Control division for fiscal years 2004 and 2003. The contemplated cash consideration for the transaction is approximately $2.5 million, subject to post-closing adjustments and escrow. There can be no assurance, however, that the closing conditions will be satisfied or that the transaction between the parties will ultimately be consummated. sec.gov Jim Mitarotonda, who controls LQCI through Barington Cos. Equity Partners LP, is described by the press as an “activist shareholder.” He pursues a lot of offbeat deals, though he seems to have some problems closing. I think that Barington is a relatively small fund. Message 20328042 Message 21907606