Eller Industries, Inc. Raises $751,750 in New Equity.LONGMONT, Colo. -- Eller Industries, Inc. (Pink Sheets: ELRI), under the name Qenex(TM), has raised new equity of $751,750. The equity raised was sold in a private offering and the shares sold are restricted. There will be no dilution Dilution A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities. Notes: Adding to the number of shares outstanding reduces the value of holdings of existing shareholders. to the current shareholders. This is the result of a major shareholder contributing an equal number of shares back into the company treasury. The new money raised is being used to finish the development of our wireless Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the system. The system should be ready to roll out sometime in the first quarter of 2005. The system will be used by our distributors to deliver quality wireless services to their areas. The distributors and Qenex(TM) will share in the revenues generated from the clients using the services. Qenex(TM) will also generate revenues from selling the required components of the system to the distributors. All of the components required to manufacture the parts needed for the Qenex(TM) system have been received and are in the process of being assembled as·sem·ble v. as·sem·bled, as·sem·bling, as·sem·bles v.tr. 1. To bring or call together into a group or whole: assembled the jury. 2. for the roll out. Qenex(TM) previously released three of the distributors who have signed letters of intent with us. Qenex(TM) has two more distributors who have now signed letters of intent. The two new distributors are as follows: Covering the area of Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Nevada Earth Express, Inc. Henry Bankey Baron baron Title of nobility, ranking in modern times immediately below a viscount or a count (in countries without viscounts). The wife of a baron is a baroness. Originally, in the early Middle Ages, the term designated a tenant of whatever rank who held a tenure of barony Lombardo Covering the area of St. Petersburg, Russia Netica Holdings, Inc. Dean Wicker Bill Johnson Bill Johnson may refer to:
The two distributors' contact information may be released at a later date, once final agreements are signed. |
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