Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Georgia Bard's Corner -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (3481)	6/29/1998 8:37:00 AM
From: Ga Bard	Read Replies (1) \| Respond to of 9440

(PR NEWSWIRE) DJ: NUTEK Acquires Marketing Rights to Vehicle Cellphone Hol DJ: NUTEK Acquires Marketing Rights to Vehicle Cellphone Holder LAKE FOREST, Calif.--(BUSINESS WIRE)--June 29, 1998--NUTEK, INC. (NASDAQ EBB-NUK) announced today that it has secured exclusive North American marketing rights to a proprietary Cellular Phone Holder for use in all kinds of vehicles, and will initiate a nation-wide television marketing program for the product in July. George Sassone, president, said that this is the newest in a series of unique consumer products to be licensed and sold by NUTEK over the next few months. "With a market of about 50 million cellular phones now in use," Sassone said, "we estimate that 75 percent of the owners are potential customers for this holder. We believe our 90-day program of telecast infomercials will yield sales of at least one quarter of one percent of all prospects, or 87,500 units. This would amount to revenues of $875,000 for that period," he added. At the end of this introductory program, NUTEK will roll out the cellphone holder through regular retail outlets nation-wide, Sassone said. CONTACT: NUTEK INC. Molesworth Associates, Gordon Molesworth, 520/625-0550 07:01 EDT JUNE 29, 1998 * end of story *

To: Ga Bard who wrote (3481)	6/29/1998 8:37:00 AM
From: Ga Bard	Respond to of 9440

(BSNS WIRE) Midland Inc. Announces the Establishment of a Liquidating Tr Midland Inc. Announces the Establishment of a Liquidating Trust Business Editors DENVER--(BUSINESS WIRE)--June 29, 1998--Midland, Inc. (OTCBB: MIDL) today announced that it has created a liquidating trust for the purpose of collecting all assets and satisfying all liabilities of Midland, Inc. as of June 28, 1998. These assets consist primarily of claims against Mr. Daniel W. Fisher, formerly CEO and Chairman of Midland, Inc. and entities with which Mr. Fisher is associated. These claims relate primarily to the apparent theft by Mr. Fisher and his affiliated entities of approximately $600,000 in gross offering proceeds from the sale of restricted Class A Preferred Stock and Class A Warrants of Midland, as well as the apparent theft by Mr. Fisher and his affiliated entities of approximately 180,000 shares of Class A Preferred Stock in Midland and an at present indeterminable number of Class A Warrants. A portion of the Series A Preferred Stock and Series A Warrants taken by Mr. Fisher and his affiliated entities were apparently sold through Merrill Lynch at 15303 Dallas Parkway, Dallas, TX, and a portion of these shares and warrants may also have been sold through an offshore securities account. Midland has obtained the commitment of the off-shore brokerage to interplead the stock and/or the proceeds from the sale by Mr. Fisher of that stock into a court in the Bahamas so that the liquidating trust and Mr. Fisher may establish to the satisfaction of that court their respective legal entitlements to the stock and sales proceeds. The liquidating trust has engaged counsel and will initiate suit this week against Mr. Fisher and his affiliated entities in the United States to establish its claims. In addition to Mr. Fisher and his affiliates having taken the shares discussed above, Mr. Fisher and his affiliates defrauded Midland through the delivery of false and misleading financial statements on its acquisition of Arcon Energy. First, the patents which Mr. Fisher and his affiliated entities claimed that Arcon Energy owned are the property of an entity known as Nova Gaz. Midland has been informed and believes that there are outstanding court orders preventing Nova Gaz from transferring the patents at issue to either Arcon Energy or Midland. Second, the patents were valued at $15,000,000 on the financial statements presented Midland by Mr. Fisher and his affiliated entities. On June 10, 1998, Mr. Fisher and his affiliated entities presented proposed audited financial statements which showed that, for financial reporting purposes, the value of the patents was zero. Third, the oil and gas properties presented Midland by Mr. Fisher and his affiliated entities were valued at $25,000,000 on the financial statements presented to Midland. The proposed audited financial statements of June 10, 1998, set forth no oil and gas properties. Fourth, Mr. Fisher and his affiliated entities claimed they owned all of the stock of Arcon Energy and transferred the same to Midland; however, it was subsequently determined that there were numerous persons to whom Mr. Fisher had sold stock in Arcon Energy and who claimed to be entitled to Midland shares. There are further claims against Mr. Fisher and his affiliated entities, including misrepresentations of liabilities, all of which will be disclosed to the public upon proof in the applicable court. Midland is still awaiting the new CUSIP number for 3:2 split previously announced and will today notify the National Association of Securities Dealers, Inc., of the dividend date, and upon satisfaction of the requirements of the NASD will announce to the public the record date. Mr. Fisher resigned in accordance with applicable law. Mr. Fisher may currently be reached in the Bahamas. Please address all inquiries concerning Midland to Mr. Gary Swancey at 770/389-5645 --30--LS/na* CONTACT: Midland Inc. Investor Relations Gary Swancey, 770/389-5645 KEYWORD: COLORADO GEORGIA TEXAS INDUSTRY KEYWORD: OIL ENERGY/GAS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *