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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU) -- Ignore unavailable to you. Want to Upgrade?

To: Brady B. who wrote (3777)	3/15/1998 9:56:00 AM
From: Brady B.	Respond to of 18444

Need a pro here! Someone want to decipher this or help? ***The company refers to ESVS Effective March 3, 1998, the Company entered into and closed a securities acquisition agreement pursuant to which the Company is issuing 220,000 restricted common shares, or approximately 19% of its common shares, and 1,000,000 shares of a new class of nonvoting preferred shares, $3.00 par value per share, in exchange for stock held by exchanging parties in an internet based, interactive advertising and marketing corporation. The preferred shares of the Company are convertible into common shares at the Company's option only after shareholder approval at a meeting called for that purpose and have a liquidation preference which is junior to the previously issued preferred shares of the Company. In connection with the transaction, the holder of Company's $500,000 accounts receivable collateralized loan has agreed, subject to consent of the loan participants, to convert the loan into equity.