Announcement from Temple Summit Financial Projects, Inc.Business Editors CEDAR HILL Cedar Hill can refer to:
Temple Summit Financial Projects, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TSFPE) is pleased to announce to its shareholders that the Company is making great progress toward spinning off its assets into Nevada Mining and Metals Corporation (NMMC NMMC North Mississippi Medical Center NMMC National Museum of the Marine Corps NMMC National Medicaid/Medicare Conference NMMC Nissan Motor Manufacturing Corporation ), completing the audit required by the SEC, filing the form 10 required to make TSFP TSFP TimeSplitters Future Perfect (science fiction game) fully reporting and will continue to aggressively seek a merger candidate. The Asset Transfer to NMMC: Currently the Company is in the process of compiling all necessary documentation needed to effect the asset transfer. As soon as all documents have been collected and reviewed a Date of Record will be announced. All shareholders of record on that date will receive shares of NMMC on a "pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. " basis while retaining their shares in TSFP. As stated in the press release dated March 17, 2000, the new President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Mr. Calvin (Cal) K. Mees was transferred approximately 65% of the total outstanding shares to give him control of the Company and to lead it through the process of fully reporting status and effecting a merger. As a result of the transfer of shares Mr. Mees will not receive shares in Nevada Mining and Metals Corporation. The SEC Audit: Information has been transferred to the auditor and is being completed as quickly and diligently as possible in order to be included in the Form 10 required by the SEC. It is the Company's hope that the audit will be completed in a timely manner. Form 10 Preparation: The information is being compiled for the Form 10 and the Form 10 is under construction. The Company anticipates the Form 10 will be completed as expediently as possible. When the Form 10 is completed and is deemed effective by the SEC the Company will be fully reporting. At that time the Company will be required to file quarterly reports promulgated prom·ul·gate tr.v. prom·ul·gat·ed, prom·ul·gat·ing, prom·ul·gates 1. To make known (a decree, for example) by public declaration; announce officially. See Synonyms at announce. 2. by the 1934 Securities and Exchange Act. Merger Candidate: Mr. Mees continues to aggressively seek a qualified merger candidate. Ideally a qualified merger candidate will have a good business plan, product or service, revenues, and the ability to enhance shareholder value. As soon as a qualified merger candidate is identified a letter of intent will be signed and announced to the public. ON BEHALF OF THE COMPANY Cal Mees President This news release may contain forward-looking statements that involve risks and uncertainties, including the impact of competitive products and pricing, and general economic conditions as they affect the Company's clients. Actual results and developments may therefore differ materially from those described in this release. No regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has reviewed or accepted any responsibility for the adequacy or accuracy of the contents of this release. |
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