MACINTOSH DELAYS SHAREHOLDER MEETING
MACINTOSH DELAYS SHAREHOLDER MEETING SCOTTS VALLEY, Calif., May 22 /PRNewswire/ -- Macintosh Corp.
announced today that it will delay its shareholder meeting originally scheduled for May 26, 1992. According to Joe McDowell, chairman, the meeting was planned to seek shareholder approval for the merger of Macintosh Corp., a publicly traded Utah holding company, and Sixty Eight Thousand Inc., its privately held California operating subsidiary, into a new Nevada corporation under the name Sixty Eight Thousand Inc. The company also plans to effect a reverse stock split in the same transaction in order to potentially qualify for NASDAQ listing of its stock in the future. McDowell said the postponement was caused by delays in obtaining regulatory permits, and that while no new date had been set for the meeting, he anticipated it would occur in early July.
Macintosh Corp., formed in 1984, trades over the counter and was an inactive public company until the acquisition of Sixty Eight Thousand Inc. in November 1989. Sixty Eight Thousand Inc., its only operating subsidiary, was formed as a California corporation in September 1987. Sixty Eight Thousand Inc. and its parent are located at 160 Technology Circle, Scotts Valley, CA. Sixty Eight Thousand Inc. designs, assembles and sells computer workstations which are primarily sold to the publishing industry in the pre-press and color separation portions of the market. Excerpts from the audited consolidated financial statements for the fiscal years ended June 30, 1990 and 1991 and the unaudited statements for the 10 months ended April 30, 1992 are shown below. Year Year 10 months ended ended ended 6/30/90 6/30/91 4/30/92 Revenue $381,091 $4,557,759 $7,234,580 Income (loss) before taxes and extraordinary item $(667,858) $47,937 $594,721 Net income (loss) $(669,267) $45,937 $539,582 Shares outstanding 12,922,608 27,922,548 27,922,548 Shareholders equity $ (13,562) $1,043,731 $1,533,316 -0- 5/22/92 /CONTACT: Joe McDowell or Stanton Creasey of Sixty Eight Thousand, 408-438-1777/ CO: Macintosh Corp.; Sixty Eight Thousand Inc. ST: California IN: SU:
MC-MM -- SJ003 -- 3426 05/22/92 16:01 EDT
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|Date:||May 22, 1992|
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