InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,048.42
(
-0.46%
)
US TECH 100
17,166.00
(
0.62%
)
Dow Jones
38,085.80
(
-0.98%
)
Brent Oil
88.15
(
1.07%
)
Bitcoin
64,476.55
(
0.30%
)
Post# of 7596
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Keep Next 10 Report Keyboard Shortcuts
Next 10 Prev Next

chart_md

Send PM Follow Ignore
Followers 0
Posts 21425
Boards Moderated 1
Alias Born 02/10/2005

chart_md

Re: None

Sunday, 04/22/2007 2:16:11 PM

Sunday, April 22, 2007 2:16:11 PM

Post# of 7596
** Past Successful Reverse Mergers: GWRX

1. Feb,2003 – GWRX ceased ongoing business activity. The shell has $123 million in tax loss credits.
2.Apr.15, 2003 – GWRX is trading at 0.01. o/s is ~ 30 million.
3.Apr.22, 2003 – GWRX is profiled on Shellstockreview.com, price is $0.017x0.02
4 May.1, 2003 – change in management, new management buys 7.4 mil shares, at 0.044 per share.
5.May.1,2003 – GWRX runs from 0.02 to 0.10 on this news.
6.Jun.1-10, 2003 – GWRX runs from 0.07 to 0.475 on no news.

From Apr.15/2003 to June 10/2003 – stock runs from 0.01 to 0.475, or 4700%

===============================================================================
EMERYVILLE, Calif., May 1 /PRNewswire-FirstCall/ -- Geoworks Corporation (OTC Bulletin Board: GWRX - News) announced today that it has sold approximately 7.4 million newly issued shares of its common stock to Newcastle Partners, L.P. and Mark E. Schwarz, an affiliate of Newcastle for $325,000. As a result of the transaction, the purchasers own approximately 25% of the company's common stock. In conjunction with the investment, Dave Grannan and Dave Domeier resigned from the Board and Mr. Schwarz and Steven J. Pully were appointed to fill their Board seats until the next annual meeting of stockholders. In addition, the remaining officers agreed to step down in connection with the transaction. Mr. Schwarz, currently Chairman of Newcastle, has been appointed to serve as CEO, and John Murray, currently CFO of Newcastle, has been appointed to serve as CFO. John Murray is a C.P.A. and was formerly employed by Ernst and Young, L.L.P.

"On behalf of Geoworks, I want to thank the two outgoing board members and the executive team," said Steve Mitchell, outgoing President and CEO and an ongoing board member. "I am also pleased to welcome Mark E. Schwarz and Steven J. Pully to the Board."

Mr. Schwarz, 42, has served as the sole general partner of Newcastle, directly or through entities, which he controls, since 1993. Mr. Schwarz serves on the boards of several public companies. Mr. Pully, 43, is employed by Newcastle Capital Management, L.P., and is on the board of one other public company. Mr. Pully is also licensed as an attorney and is a C.P.A. The newly constituted board will immediately seek an independent member to replace Mr. Mitchell prior to the Company's next annual meeting of stockholders.

About Newcastle

Newcastle Partners, L.P. is a Dallas-based investment partnership that was formed in 1993. Newcastle has ownership positions in U.S.-based companies engaged in a variety of different industries.

About Geoworks

Geoworks Corporation was a provider of leading-edge software design and engineering services to the mobile and handheld device industry. Based in Emeryville, California, additional information about Geoworks can be found on the World Wide Web at http://www.geoworks.com .

===============================================================================

Penny_TA's Technical Plays:
http://www.investorshub.com/boards/board.asp?board_id=7244
==========================================================
Reverse Mergers:
http://www.investorshub.com/boards/board.asp?board_id=7308

Public Reply Private Reply New Post
Keep Last Read
Keep Last Read Next 10 Report Keyboard Shortcuts
Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up