Bridgeport Communications to Reorganize in Pursuit of E-Commerce Merger.MIAMI--(BUSINESS WIRE)--April 27, 1999-- Bridgeport Communications Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BPOT) announced Tuesday that it has begun steps to reorganize re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. after many months of dormancy, as it pursues merger candidates in the e-commerce arena. The company is in the process of restructuring to be positioned for new strategic alliances or an appropriate candidate for a reverse merger. The company ceased operations in mid-1998 after attempting to build a multi-faceted communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. . Several shareholders have expressed an interest for many months in revitalizing re·vi·tal·ize tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. the company in the hopes of providing shareholder value, and have advanced funds on the company's behalf in connection with due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and legal fees related to several unconsummated transactions. Additional loans are anticipated as part of the planned restructuring. There can be no assurances that the company will be successful in its current merger efforts, and although discussions with several parties have taken place recently, no such transaction has been consummated to date. Management is unaware of any reason for the substantial increase in the price of its stock on Monday, April 26, 1999, and warns the public that the increase in stock price should not be considered indicative of any progress on the company's acquisition attempts. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion