Comet Technology Inc. Signs Letter of Intent to Acquire Cirmaker Industry Co. Ltd. Through a Reorganization.Business Editors & High-Tech Writers SALT LAKE CITY--(BUSINESS WIRE)--Jan. 22, 2002 Comet comet [Gr.,=longhaired], a small celestial body consisting mostly of dust and gases that moves in an elongated elliptical or nearly parabolic orbit around the sun. Comets visible from the earth can be seen for periods ranging from a few days to several months. Technology Inc. ("Comet")(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CMEK) announced that it signed a letter of intent on Jan. 18, 2002 whereby Comet will enter into a reorganization with Cirmaker Industry Co. Ltd. ("Cirmaker"). Headquartered in Taiwan, Cirmaker specializes in developing and manufacturing telecommunication telecommunication Communication between parties at a distance from one another. Modern telecommunication systems—capable of transmitting telephone, fax, data, radio, or television signals—can transmit large volumes of information over long distances. products, electronic equipment, and PC and electronic components. The transaction will be structured as a stock for stock exchange through which Cirmaker will acquire approximately 92 percent of the shares outstanding at the closing and obtain control of Comet. Details of the transaction will be set forth in a definitive agreement. About Cirmaker Industry Co. Ltd. Headquartered in Taiwan, Cirmaker Industry Co. Ltd. ("Cirmaker") designs, develops, manufactures, assembles and markets a comprehensive line of telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. products, electronic equipment, PC and home electronic components. Cirmaker's specialty includes its signature cooling technology that is widely used by many leading PC manufacturers. Cirmaker's products are sold to a large number of customers in over 60 countries, primarily in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Asia. For further information, visit the company's Web site at www.cirmaker.com.tw. The statements contained in the press release which are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission. |
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