I got a letter yesterday and here's the deal in a nutshell.
Shareholders of ioWorldMedia, based in Florida as "ioWorldMedia" is merging with Radioio, Inc., which is a newly formed corporation in Nevada and a wholly-owned subsidiary of ioWorldMedia "Radioio". the merger was approved by common and preferred shareholders of ioWorldMedia.
What they want to do is move ioWorldMedia's "state of incorporation" from Florida to Nevada, change ioWorldMedia's name to "Radioio, Inc." as well as to simplify capital structure and recude number of outstanding shares of capital stock. Radioio will be the surviving corporation in the merger and Radioio will continue ioWorldMedia's current business, bla bla bla......
So, apparently:
1) The parent company of RadioIO is starting a side company.
2) They're merging
3) The merged company (under the new name) is moving to Nevada.
Do I have that right?
I wonder if I could call the guy up and, as a shareholder (of worthless stock, hahaha!) ask what they're planning on doing with their top-level talent in the next fiscal year.
Shareholders of ioWorldMedia, based in Florida as "ioWorldMedia" is merging with Radioio, Inc., which is a newly formed corporation in Nevada and a wholly-owned subsidiary of ioWorldMedia "Radioio". the merger was approved by common and preferred shareholders of ioWorldMedia.
What they want to do is move ioWorldMedia's "state of incorporation" from Florida to Nevada, change ioWorldMedia's name to "Radioio, Inc." as well as to simplify capital structure and recude number of outstanding shares of capital stock. Radioio will be the surviving corporation in the merger and Radioio will continue ioWorldMedia's current business, bla bla bla......
So, apparently:
1) The parent company of RadioIO is starting a side company.
2) They're merging
3) The merged company (under the new name) is moving to Nevada.
Do I have that right?
I wonder if I could call the guy up and, as a shareholder (of worthless stock, hahaha!) ask what they're planning on doing with their top-level talent in the next fiscal year.