Just a guess, but perhaps a news release is on its way. Could be any of the following from the October release:
"Semcolabs has also completed preliminary testing at a major Las Vegas Hotel. The hotel was a test market case to qualify the area for Semco's growth potential. The hotel will be serviced on a yearly contract along with the development of a HACCP Plan and a food Safety training program. Semco is also negotiating with 5 other Hotels and Restaurants on the strip and has hired a new sales director for the area. The Las Vegas office and Los Angles offices will be open within three weeks.
In Florida Semco has opened a new corporate office in Boca Raton. Many new contacts have been made including one of the world's largest health care, nursing home and assisted living providers. Atlantic City is now scheduled for an early November meeting to open that territory to Semco's services."
As for the new capital structure, the 10 to 1 reverse left 2,587,745 shares. Add in 19,400,000 restricted shares issued to SemcoLabs and you now have a grand total of 21.9M shares. What's interesting to me is that the original deal with Datapower called for issuing 3,680,000 to acquire 60% of Datapower. Instead they do a deal that calls for issuing 6x the number of shares and two guys with 51% controlling interest. Beats me why. Guess we will find out one way or another. Here's the share info from the 8K:
Item 1. Changes in Control of Registrant
The proposed merger of International Semiconductor Corporation ("ISC")
with SemcoLABS, Inc. ("Semco"), a Florida corporation, was completed August
23, 1999. All of the issued and outstanding common stock of SemcoLABS will be
exchanged for 19,400,000 shares of restricted common stock of International
Semiconductor Corporation in a Section 368 share exchange agreement.
The controlling shareholders, following this transaction, will be Gary
Rosen, holding 5,500,000 shares and Gary Kaplan, also holding 5,500,000 shares
of common stock. The two persons voting together would constitute 50.2% of
the issued and outstanding common stock and would give them operational |
