ObjectSoft Corp (OSFT) trading at less than 1/10 of a cent is pure speculation. OSFT is a publicly traded shell corporation that recently announced the acquisition by the company of the nanotechnology assets of RES Inc., formerly Terra Solar Development Corp. and also of Accusealed of Hungary. RES, Inc. is a well-known pioneer in the fields of photovoltaic cells and nanotechnology. Dr. Zoltan Kiss, the chief scientist of RES is one of the primary inventors of the LCD digital watch, and has over 30 patents to his credit, including fundamental photovoltaic and nanotechnology patents. ObjectSoft is soon to be renamed Nanergy, Inc.
The principal nanotechnology assets acquired include:
* Patents issued and applied for, as well as patent disclosures related to the use of carbon nanotubes in nickel-carbon nanotube batteries * Patents issued and applied for Hydrogen storage in carbon nanotubes * Design of a number of Nanofilm-based PV consumer products, and related contracts with workers and consultants
Mr. Moshe Gluzman, CEO of ObjectSoft said, "We are delighted to welcome Dr. Zoltan Kiss and his colleagues to our company and look forward to providing them with the financial resources necessary for them to succeed with their business plan."
The assets are being acquired debt-free. All stock issued in connection with the transaction is being issued as restricted stock, and will be subject to lockup agreements once it becomes free.
Mr. Gluzman stated, "We have received and approved for manufacture a working prototype of NanoSign(TM), the company's first commercial nanotechnology based product. We expect to shortly release the product for manufacture and to begin shipping in the second quarter of 2005." This illuminated safety house number sign uses PV Nanofilm technology so that it can recharge in low light. The high efficiency of the nanotechnology-based photovoltaic cell recharges the device for a week on only eight hours of daylight. Unlike existing devices, direct sunlight is not required. The company believes this product meets a widely-felt need. Products of this type have been recommended by police and emergency workers; however existing products have been too expensive and have too short a life to be suitable for mass marketing.
OSFT recently announced details of its capital structure. The number of shares authorized is 850 million. About 643 million restricted shares were issued or are issuable in connection with the acquisitions. The total outstanding after giving effect to shares issuable for the acquisition is about 700 million shares... Public float is about 50 million shares as reported by the company. .
Posts: 320 | Registered: Feb 2005
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Today, I made a couple casual calls to the HQ and one of the production plants looking primary to chat with either Moshe Gluzman or Dr. Zolton Hiss. Both were moving between facilities so no joy there. However, I did talk to one of the other fellows at the HQ, and subsquently to one of the engineers at their solar cell plant. Obviously, I wasn't going to stumble over my shoelaces by asking any questions that would be difficult for someone to answer, but I definitely detected an air of 'Lockdown' in each case. I'd best describe it as SarOx-induced solence, coupled with some polite references to an interesting week upcoming.
Having been around this game long enough, I can read into the subtleties when the fuse is lit. ..IMHO, if you aren't where you want to be with your OSFT collection today, you should attempt to achieve that by early Monday.
DYODD or DYOBooHoo............ .
Posts: 320 | Registered: Feb 2005
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I will suggest readers of this thread carefully research the corporate history of Moshe Gluzman.
Posts: 7504 | Registered: Dec 2003
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