GREY:WSCEE - Post by User
Post by
cerebuson May 14, 2004 2:43pm
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Post# 7488152
Completion of Acquisition
Completion of AcquisitionOverall I haven't been too excited by the recent SEC filings. The Company has basically said what they are trying to accomplish - 100% acquisition of the Flowstar product line. I was very happy that this was up from the original 51%. I was a little miffed on the Vasjar twist however I can see the tax advantages to creating an offshore company for the International sales. I am somewhat relieved that they issued on April 29th the shares required under the Vasjar agreement. It was indicated in the May 7th Form 8-K that the shares delivered were restricted. I have heard that this is why they were not accepted as the sellers expected free trading shares. There may be some confusion here as the share purchase agreements between Epithia Trust, Abuelo Trust and Wescorp define the shares as free trading. I am hopeful that this will be cleaned up next week and the Company can focus on the DCR900 sales and move the stock price onward and upward.