posted
acquisition news finally here hope you are all in!
ObjectSoft Corp. to Acquire Nanotechnology Assets of Terra Solar Development Corp; Asks Shareholders to Approve Name Change to Nanergy Corp.
January 19, 2005 07:00:00 (ET)
NEW YORK, Jan 19, 2005 (BUSINESS WIRE) -- ObjectSoft Corp. (OSFT, Trade) today announced that it has agreed to acquire all of the nanotechnology assets of Terra Solar Development Corp. (TSDC to be renamed RES Inc.) and also Accusealed of Hungary. After the closing of the acquisition, expected to take place in February 2005, ObjectSoft will ask shareholders to approve a change in the Company's name to Nanergy Corp.
The principal nanotechnology assets being acquired include: -- Patents issued and applied for, as well as patent disclosures related to the use of carbon nanotubes in -- nickel-carbon nanotube batteries -- hydrogen storage in carbon nanotubes -- Design of a number of Nanofilm-based PV consumer products -- Related contracts with workers and consultants
The assets are being acquired debt-free. As consideration for the purchase, shareholders of TSDC will receive equity equal to 90.9% of the total equity in ObjectSoft. Based on the achievement of certain milestones, additional shares may be issuable to Nanergy management.
60% of the shareholders of ObjectSoft have signified their approval of this transaction, which is still subject to conclusion of a definitive agreement, shareholder and Board approvals and customary closing documents.
ObjectSoft had previously announced that it and its investors had invested a total of $250,000 in Terra Solar Development Corp. Upon the completion of this transaction, ObjectSoft will own all of the nanotechnology assets of TSDC and Accusealed.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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OSFT - this baby is sure going thru the roof and with no promotion..looks like no stop'n it...
-------------------- siggy: 'the poorest way to help the poor is to be poor' / jmichael1974 (yahoo) Posts: 836 | From: Atlanta | Registered: Aug 2004
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-------------------- siggy: 'the poorest way to help the poor is to be poor' / jmichael1974 (yahoo) Posts: 836 | From: Atlanta | Registered: Aug 2004
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-------------------- siggy: 'the poorest way to help the poor is to be poor' / jmichael1974 (yahoo) Posts: 836 | From: Atlanta | Registered: Aug 2004
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Feb 10th Vol: 216k Feb 11th Vol: 400k Feb 13th Vol: 1.2mil Feb 14th Vol: 5.9mil Feb 15th Vol: 11.5mil @ 11:24am !!!
Major merger news rumored to be completed this week.
The principal nanotechnology assets being acquired include:
Patents issued and applied for, as well as patent disclosures related to the use of carbon nanotubes in nickel-carbon nanotube batteries hydrogen storage in carbon nanotubes Design of a number of Nanofilm-based PV consumer products Related contracts with workers and consultants The assets are being acquired debt-free
-------------------- FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of. YahooIM=FurrySound Posts: 2170 | From: Pennsylvania, USA | Registered: Mar 2004
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And when she moves with rumored news, she's going to move big.. .025-.03 close today, gap at open tomorrow..
Nice healthy pull back is finishing up here..
This is big..
The company believes so strongly in the future earning power of this branch of science, that it divested itself of its former business and made an investment in Terra Solar Development Corp., a privately held nanotechnology entity headed by Dr. Zoltan Kiss. Dr. Kiss, a well-known inventor, has three patterns in the nanotechnology field. His work has garnered major support from the US government including the Department of Energy's National Renewable Energy Laboratory.
-------------------- FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of. YahooIM=FurrySound Posts: 2170 | From: Pennsylvania, USA | Registered: Mar 2004
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Almost back to my buy in price! I have to break this habit of mine of buying at the peaks
Posts: 10 | From: Kentucky | Registered: Jan 2005
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11k at .021 and ask moved to .0215..thing just keeps UTing on Tiny Money - lol
-------------------- siggy: 'the poorest way to help the poor is to be poor' / jmichael1974 (yahoo) Posts: 836 | From: Atlanta | Registered: Aug 2004
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Yup, 50mil A/S and 14 mil float (as of Nov), even with dilution, it's still small float, looks to be drying up some.. good sign, gappage tomorrow.
-------------------- FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of. YahooIM=FurrySound Posts: 2170 | From: Pennsylvania, USA | Registered: Mar 2004
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OSFT - heads up on this one again this coming week IMO ;o)
-------------------- siggy: 'the poorest way to help the poor is to be poor' / jmichael1974 (yahoo) Posts: 836 | From: Atlanta | Registered: Aug 2004
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NEW YORK--(BUSINESS WIRE)--March 17, 2005-- ObjectSoft Corp. (OTC-Pink Sheets: OSFT) today announced that it expects to complete the process of renaming the company Nanergy Inc. within the next 30 days. This previously announced change reflects the acquisition by the company of the nanotechnology assets of RES Inc., formerly Terra Solar Development Corp. and also of Accusealed of Hungary. Separately, the Company announced that its board has approved the working prototype of its first product. Mr. Moshe Gluzman, Chief Executive Officer of ObjectSoft said, "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 PVNanofilm 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. Separately, the Company announced details of its capital structure. There are about 50 million shares in the float. 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. All of the persons issued restricted shares in connection with the acquisition will be deemed control persons under SEC rules.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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posted
Being a pink I'm worried the company dilluted shares before the acquisition, currently no way to prove this, just a hunch.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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