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ProShares UltraShort Euro Message Board

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  • momrke1 momrke1 Dec 9, 2002 5:13 PM Flag

    Please Help!!

    on the merger Acoustic Core and MKLD, EUO retains 80% of new company and shifts the debt to MKLD making EUO a more valuable company

    this is what I get out of the first glance

    jmo

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    • The Way I See It...

      Right now EUO (thats the EUO shareholders) own 100% of Acoustic Core

      After the "merger",
      EUO (that again, are the EUO shareholders) will own 80% of Acoustic Core.
      The existing Markland shareholders will own 20% of Acoustic Core.

      On top of that:
      Woodward in exchange for a security interest in the shares of Markland being acquired by Eurotech and 50% of the proceeds generated from future sales by Eurotech of these same shares.

      (so basically Woodward owns 1/2 of the 80% that EUO gets, plus the mystical "security interest")

      And...

      What does Markland bring to the table?

      $5K Cash
      No revenue
      No earnings

      Here is what the Yahoo profile says:
      "Markland Technologies, Inc. has no operations. It was engaged in the marketing and distribution of high-end projection systems and support accessories primarily to the consumer market through its wholly owned subsidiary, Vidikron of America, Inc. On May 28, 2002, the Company received a notice of default from its senior secured lender, Market LLC, relating to a loan and security agreement and a related secured convertible revolving credit note (the Note) issued in favor of Market LLC for, among other things, the Company's failure to make payments of principal and interest due under the Note. Market LLC had advised Markland that it intended to exercise its right as a secured creditor in and to all collateral granted to it to secure the Note, including all of the issued and outstanding shares of Vidikron of America, Inc."


      Sorry, I don't see this as a good deal for current EUO shareholders.

      • 2 Replies to diehlr1
      • EUO will own zero rights to AC. All they will own are shares of the other company - shres of the other company that opended at 1 cent today.

        EUO shareholders do not own any part of the other company, just as EUO shareholders do not own any part of EUO's assets, such as PCs, equipment, etc.

      • There is bound to be some confusion about this one. Here are a few points: EUO will still control the Acoustic Core technology, since they will own 80% of Markland. Once Markland approves it's 20/1 reverse split, it should be eligible to get listed on NASDAQ. If the technology takes off, EUO owns the largest piece of it. And by retiring a bunch of EOU's outstanding debt, it will make their balance sheet look better. As far as Markland having nothing, it is basically a way to create a seperate subsidiary stock without going through the BS of starting from scratch, in other words, it's a shell company made viable by the technology. What am I missing here? I sold half my shares last Friday (after buying a couple of weeks ago) to free up cash for some bargains today, and came within a penny of selling the rest today, but only because there were beginning to look like there were other stocks out there that had more near term potential. We'll see how confused shareholders are tomorrow.

    • this company wants to spin off the homeland security part of their business.the company doesn't have the money to put into an expensive IPO....( SEC fee for a seat on the nasdaq board).therefore it's cheaper to infuse there business in a company on it's last leg and take its place on the nasdaq.it's less expensive than starting fresh with an IPO.i'm angel investor who as invested in a private company which is looking to do the same thing to a publicly traded company.we all know EUO doesn't have much in cash.all they're doing is taking the place of a publicly traded company to save the enormous cost of IPO.this is why they will have 80% interest.20% goes MKLD for having being traded on the nasdaq.good luck to all.i think this is not a bad deal.

 
EUO
19.10-0.14(-0.73%)Sep 18 4:00 PMEDT

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