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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: JoAnn who wrote (35966)	12/29/1998 4:13:00 PM
From: Brett Fleischman	Read Replies (1) \| Respond to of 119973

AAGP had some not so good news late today, be careful on it in the morning. biz.yahoo.com Brett

To: JoAnn who wrote (35966)	12/29/1998 4:13:00 PM
From: JoAnn	Respond to of 119973

SRGE.....SURGE HALT....news Surge Components <SRGE.O> to buy Orbit Network DEER PARK, N.Y., Dec 29 (Reuters) - Surge Components Inc. said Tuesday it agreed to buy Orbit Network Inc. as part of its expansion strategy into the electronic commerce industry, better known as e-commerce. Surge said it planned to make Orbit, which lets travel and leisure suppliers and resellers do business on the Internet, a wholly-owned subsidiary. "Under the letter of intent, the shareholders of Orbit would exchange their shares of Orbit for 25 million shares (76 percent of the then outstanding shares) of common stock of Surge," it said. Surge did not provide any more details on the deal and its officials could not be reached for comment. Its stock was suspended from trading on the Nasdaq market in light of the news, its last sale at 3-1/4. Surge said Orbit had more than $2.3 million in annual gross revenues and planned to increase them to more than $12 million in 1999. "There is significant growth opportunity in the less automated leisure and international travel niches, with other e-commerce vendors primarily focused on booking air, hotel, and car," it said. Surge said Robert DePalo, a senior partner at Equilink LLC of New York, acted as investment banker to the parties for the transaction. 15:20 12-29-98 Copyright 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. All active hyperlinks have been inserted by AOL.