To: Ga Bard who wrote (3275 ) 8/9/1998 11:30:00 PM From: Alan Markoff Read Replies (3) | Respond to of 7039
Gary; I read the press release and was not impressed so here it goes and remember it's my opinion..................... Let's start out with the headline....... All headlines are the gist of any news release.Midland, Inc. in Negotiations to Acquire Shipping and Trading Companies From Noble House SA Than the very first statement is states as follows;Midland, Inc. (OTC Bulletin Board: MIDL - news) announces today that it has an Agreement in principal to acquire shipping and trading companies from Noble House SA. So what is it an Agreement or Negotiations................ The headline would have been better served if it was more in tune with the body of the text.................. Than this statement which makes it even more confusing;The first draft of the acquisition contract is being reviewed, with an anticipated closing on Tuesday, August 18, 1998 in Miami, Florida. Now they mention a contract and being that it is a first draft I find it hard to believe that closing could possibly occur in only 8 DAYS??? and that does not include weekends............... The anticipated acquisition will bring both substantial audited assets and revenues into the company. Additionally, the company will, in the near future, hold a shareholders' meeting to vote on changing the company name and trading symbol. The outstanding issues concerning the Series Preferred ''A'' will be addressed at that time. What outstanding issues concerning the Series Preferred A stock????? I do not like that statement at all..... What happened to the dividend OR forward split that I have yet to receive......... Also is this somehow stating their may be a problem concerning the series A what about the stop transfers. This statement is very vague at best and poorly done. The net assets of Midland Inc., if closing occurs If is a big word.........The acquisition will be accomplished through an exchange of Midland, Inc. shares for 100% ownership of the shipping and trading companies How many shares??????? Midland apparently has no cash........ How much more dilution are we talking about??? I know you better you have always stated that if a News release was nothing more than an a intent it was worthless. Why not wait the eight days and put out the final deal......... It also makes mention of Companies....... Why is it they have no names attached. The News release simply states that they are selling the shell at what cost to shareholders???? You may say they are not selling the shell but look at this....... Once this acquisition is closed a change in control of Midland, Inc. will take place with a new board of directors. I will lay you odds the new directors will be those Companies Midland is talking about...............(Existing Officers in those other Companies) the company will, in the near future, hold a shareholders' meeting to vote on changing the company name and trading symbol. The outstanding issues concerning the Series Preferred ''A'' will be addressed at that time. I do not like that word CHANGE...... and ISSUES concerning series A stock what issues............... I guess DF-144 is dead.................