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.

Technology Stocks : MGHI - Mirage Holdings Inc. -- Ignore unavailable to you. Want to Upgrade?

To: T A P who wrote (23)	3/26/1999 9:30:00 AM
From: T A P	Read Replies (1) \| Respond to of 38

MGHI NEWS!! Mirage Holdings, Inc. To Complete Acquisition of 100% of Network Solutions Pvt. LTD and Netsol UK, Ltd. After Receiving Houlihan Valuation Report SANTA MONICA, Calif., March 26 /PRNewswire/ -- Mirage Holdings, Inc. (OTC Bulletin Board: MGHI) today announced that the Company is moving forward with the previously announced plans to acquire 100% of the equity in Network Solutions (Pvt.) LTD and Netsol UK, Ltd. Mirage currently owns 51% of Network Solutions (Pvt.) LTD and 43% of Netsol UK, Ltd. The final decision was reached after the Mirage Board of Directors had received and reviewed the valuation report prepared by Houlihan Valuation Advisors ("Houlihan"), a national business valuation firm with 12 offices throughout the United States. Mirage retained Houlihan to conduct the valuation and render an objective third party valuation report relative to both companies. Based upon their analysis, the fair market value of the combined capital stock of Network Solutions (Pvt.) Ltd. and Netsol UK, LTD was determined to be Thirteen Million Dollars ($13,000,000). There is no cash involved in the acquisitions and all remaining stock of Netsol will be acquired by issuing 4.2 million common shares of Mirage stock. The valuation report was a key step in moving towards the consummation of the acquisitions. Mirage has filed with the SEC for approval of the acquisitions. Included in this material are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. SOURCE Mirage Holdings, Inc. CO: Mirage Holdings, Inc.; Network Solutions (Pvt.) LTD; Netsol UK, Ltd. ST: California T A P has received 30K shares of MGHI from Clearweather Investments Ltd. for services provided for a period of 6 months For a complete write-up on other Turn Around Picks go to T A P profile for url!