Sector 10 Files 8K, Acquires Server Network, Restructures Debt and Receives Investor Funding
04 Junho 2008 - 2:33PM
Marketwired
SALT LAKE CITY, UT (FRANKFURT: 4SR) today filed a Form 8K with
the U.S. Securities and Exchange Commission detailing the following
significant events:
-- Sector 10, Inc. has received a server network developed by Sector 10
Holdings, Inc. -- the major shareholder of Sector 10 stock (SECT). The
network has fully integrated capabilities for distribution services
including the world-wide transmission of video and audio broadcasts, with
content management services that archive data under a redundant system with
various server clusters across the nation. The network recently has been
valued by a third-party valuation service at $6 million without business
and $20 million with business. Details of the transfer can be found in the
8K.
-- Sector 10, Inc. reached an agreement with Jeffery Martin to convert
$649,200 in outstanding debt owed to Martin to 1,200,000 shares of Sector
10 common stock. The transfer process was initiated May 21, 2008. Details
of the transaction are available in the 8K.
-- Sector 10, Inc. reached an agreement with Edward Johnson for Johnson
to provide $200,000 in short term financing to assist with the development
and expansion of the business. Details of the terms of the agreement are
available in the 8K.
Sector 10 CEO Pericles DeAvila also notes that significant
progress has been made in recent weeks on securing significant
sales contracts with potentially large clients. He said he expects
an announcement detailing completed contracts to come shortly.
FORWARD-LOOKING STATEMENTS
This press release may include "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
included in this press release that address activities, events or
development that the company expects, believes or anticipates will
or may occur in the future are forward-looking statements. These
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company,
which may cause the Company's actual results to differ materially
from those implied or expressed by the forward-looking statements.
The Company assumes no duty whatsoever to update these
forward-looking statements or to conform them to future events or
developments.
http://www.sector10.com
Contact: Paul Pugmire 801.478.2475
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