Business
Mindready Solutions Provides Bi-weekly Status Update
Mindready Solutions Provides Bi-weekly Status Update.
About this update from Fidelity Minerals Corp.
[{"type":"text","content":"\n\n\n\n\nMONTREAL, April 18 /CNW Telbec/ - Mindready Solutions Inc. (TSX: MNY)\nreports that the first default status report does not involve any change with\nthe previous report filed on April 3, 2006, with the exception that Mindready\nwas informed on April 11, after the market close, that its offer submitted to\nthe interim receiver of UTTC United Tri-Tech Corporation (\"UTTC\") to purchase\nthe assets of UTTC was not accepted and that the assets of UTTC were sold to a\nthird party.\nConcurrently with its negotiations with the interim receiver of UTTC,\nMindready has obtained from the court an order to safeguard until June 3,\n2006, which prevents the former shareholders of UTTC from trading the shares\nthey hold in the capital of Mindready. Such order was rendered in the course\nof the legal procedures filed by Mindready to cancel the acquisition of UTTC\ncompleted on November 30, 2005.\nGiven these new developments, Mindready continues to examine all means at\nits disposal to ensure its rights are respected and that it receives\ncompensation from all parties involved.\nThe annual report, the annual financial statements along with its\nmanagement's discussion and analysis (MD&A) for the fiscal year ended \nDecember 31, 2005 could not be filed on or before March 31, 2006, as\nprescribed by law, for the reasons described above. Consequently, the annual\nshareholders' meeting has been postponed accordingly.\nMindready expects to be able to file its annual report, annual financial\nstatements and annual MD&A for the year ended December 31, 2005 by May 31,\n2006 and has asked regulatory authorities to issue a temporary cease trade\norder applicable to its management.\nMindready is aware that regulatory authorities may impose an issuer cease\ntrade order in the event that its financial statements, annual report and\nannual MD&A are not filed before May 31, 2006.\nAn issuer cease trade order may also be imposed prior to May 31, 2006 if\nthis notice of default is materially deficient or if Mindready fails to file\nits Default Status Reports on time as prescribed by law. Mindready is\nconfident that these conditions will be met.\n\nMindready Solutions Inc. (TSX: MNY) is a leading supplier of innovative\nend-to-end solutions for new electronic product introduction, from design to\nmanufacturing and test systems, serving t...