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Microcap & Penny Stocks : Genesis Media Group, Inc (GNNX) -- Ignore unavailable to you. Want to Upgrade?

To: Gutterball who wrote (113)	4/17/1998 9:55:00 PM
From: Gutterball	Respond to of 3129

From: edgar-online.com More info on Meyer... Robert N. Meyer - President of Inter-Continental Services Corporation since September 1996. Prior to that, Mr. Meyer was founder and president of Meyer Group Limited (MGL) in Costa Mesa, CA. Mr. Meyer has considerable experience in the telecommunications and securities industries. More info on Meyer Group, you know, the one that's offering the $60 million contract... Management has recently reached agreement with the shareholders of MGL to purchase their assets and the rights to their contracts in exchange for shares in the company. An outline of the agreement is as follows: 1. Purchase Blue Jay Communications assets for a value of $350,000. 2. Purchase Access Medical Systems assets for a value of $900,000. 3. Assume rights to MGL contracts for a value of $1,440,000. 4. Retire all obligations for MGL's $330,000 investment in the company. The total value of the purchase is therefore placed at $3,020,000. Review of ICSC's historic stock price, the current market price, the 1 for 2 reverse split that is planned, and the discounted value of shares which carry SEC Rule 144 trading restrictions; the negotiated value of new shares issued for the purchase was set at $.55 per share. Consequently, the agreement sets the purchase price for MGL at 5,490,900 shares. The shares will all comply with the trading restrictions required by SEC Rule 144. If I didn't know better, I'd say ole Meyer is going to reverse merge ICSV. The reverse split gives it away.