I just cannot understand how people can be duped by these companies
I like this quote the best; "Wilmington Capital, LLC a Beverly Hills based boutique investment banking company" AH hahahahaha.
floyd
Company Press Release
Sara Hallitex Corporation
‘NASDAQ BB: SHAL'
FOR IMMEDIATE RELEASE
June 12, 1997
Contact: Garrett Krause
SARA ENVIRONMENTAL, INCORPORATED COMPLETES FULL REORGANIZATION; COMPANY RENAMED SARA HALLITEX CORPORATION BEGINS OPERATIONS.
BEVERLY HILLS, Calif. -- June 12, 1997-Sara Hallitex Corporation (NASDAQ BB SHAL)
Garrett Krause, President & CEO of Sara Hallitex Corporation, announces that the company, formally known as Sara Environmental, Incorporated (NASDAQ BB: SARH) has completed a full reorganization, and begins operations as a new public venture capital firm. Mr. Krause is also Managing Partner of Wilmington Capital, LLC; a Beverly Hills based boutique investment banking firm. Wilmington Capital, LLC and organized the acquisition of 68% control of Sara Environmental, Incorporated on October 30, 1996 by Wilmington Partners XI, LLC. The completion of this reorganization fully implements a 40-1 reverse stock split, new business philosophy, and the acquisition of a group of assets known as the Trillium assets unanimously approved at a shareholders meeting held November 27, 1996.
Sara Environmental, Incorporated, a public company since 1990 with revenues of over $4 million, was principally dedicated to providing EPA regulatory compliance reporting consulting services to industrial clients. The service aspect of the business was liquidated in early 1996. Since 1990 Sara Environmental, Incorporated had acquired rights to a certain patented environmental secured vault technology for development and commercialization. Sara Hallitex Corporation, although committed to pursuing more diversified projects and markets, specifically through acquisitions and investments, retains the rights to the patented technology and an interest in environmental projects. Sara Hallitex Corporation, to capitalize on its patent technology rights and other related professional relationships in the environmental technology business, announces the creation of a new subsidiary to be called ProTerra, Inc.
In accordance with the business approach approved by a majority of the company stockholders at a meeting held November 27, 1996, Sara Hallitex Corporation will pursue its interests along with new business in the environmental market through this subsidiary ProTerra, Inc.
ProTerra, Inc., a Nevada corporation, will hold all remaining environmental assets of Sara Environmental, Incorporated, and will be a 90% subsidiary of Sara Hallitex Corporation. The remaining 10% ownership of ProTerra will be distributed to the existing Sara Environmental, Incorporated shareholders of record prior to the meeting held November 27, 1996 and converted creditors prior to June 12, 1997. Sara Hallitex Corporation plans to ultimately spin out ProTerra as an individually traded worldwide environmental company.
Sara Hallitex Corporation also announces, that simultaneously with the creation of ProTerra, the company acquired a number of assets and companies referred to herein as the Trillium Group of Assets with interests in several entertainment and sports related projects. The transaction was completed and approved by stockholders.
Garrett Krause, President and CEO of Sara Hallitex Corporation, announced that the Board of Directors of Sara and the original principal shareholders of the Trillium Group of assets have agreed to separate the two companies immediately upon final closing by spinning out the Trillium Group of Assets into its own publicly traded company to be called Trillium Communications, Ltd. Sara Environmental, Incorporated has been renamed to Sara Hallitex Corporation (NASDAQ BB: SHAL) each with their own shareholders and business philosophy. In an agreement signed by Garrett Krause and the original shareholders of the Trillium Group of Assets, Sara Hallitex Corporation will receive 500,000 of the Trillium Communications, Inc.'s 6,500,000 shares in the new company.
Sara Hallitex Corporation will use 200,000 of this Trillium stock to satisfy the $1,000,000 of existing Sara Environmental, Incorporated/Sara Hallitex Corporation's debt and will retain the balance as an investment asset on its books. The principals of both entities have agreed to this course of action to relieve the Trillium Group of assets of any unforeseen potential liabilities or claims arising from previous Sara Environmental, Incorporated business operations. This will also allow Trillium Communications, Ltd. to proceed with newly reorganized debt free public corporation.
Garrett Krause, with this announcement acknowledges that Trillium Communications Ltd., a separately traded public corporation, will pursue a separate business plan than that of Sara Hallitex Corporation.
The completion of the acquisition of Trillium Group of Assets and the subsequent spinout of these assets into a separate publicly traded company, to be named Trillium Communications, Ltd., is subject to approval of all the original shareholders of the Trillium Group of Assets.
Wilmington Capital, LLC a Beverly Hills based boutique investment banking company will become the investment banking consultant to both Sara Hallitex Corporation and Trillium Communications, Ltd. For further information on both companies contact Wilmington Capital, LLC. at 310-278-8144 by telephone, 310-278-8644 by fax, or Email at WILCAP@4link.net. |
