To: Glenn Petersen who wrote (1996 ) 5/6/2009 11:15:10 AM From: Glenn Petersen Respond to Alsius Corporation (stock symbol: [t]ALUS[/t]), originally known as Ithaka Acquisition Corp., has completed the sale of its assets to ZOLL Medical Corporation and will proceed with the liquidation of the company.Alsius Corporation Completes Sale of Assets to ZOLL Medical Corporation After settling all liabilities, Alsius will distribute its remaining cash to its stockholders. Alsius currently anticipates making an initial distribution of $0.30 to $0.32 per share to Alsius stockholders by the end of June 2009. After the one-year anniversary of the sale, when the period for ZOLL to make indemnity claims under the purchase agreement expires, Alsius anticipates making a final distribution to stockholders of available cash. Alsius estimates that when all distributions have been made (including the intended final distribution in approximately one year), it will return $8 million in total, or $0.36 per share, to stockholders, which exceeds its previously reported estimate of $0.34 per share. However, if liabilities are greater than estimated or if unknown liabilities are incurred, or if collections on accounts receivable are less than expected, then the amount available for distribution will be less than currently anticipated (or could be greater if liabilities are less than expected or collections exceed expectations).finance.yahoo.com
