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Article: Group Long Distance, Inc. Announces Acquisitions.
- Article from:
- Business Wire
- Article date:
- April 16, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors/Technology Writers
POMPANO BEACH, Fla.--(BUSINESS WIRE)--April 16, 2001
Group Long Distance, Inc. (Pink Sheets:GLDI) ("Group Long Distance") announced today that it has completed its previously announced acquisition of all of the outstanding securities of HomeAccess MicroWeb, Inc. ("HomeAccess"), a subsidiary of Quentra Networks, Inc.
In connection with the acquisition, Group Long Distance delivered cash in the amount of $100,000 and 200,000 shares of a new Series A Preferred Stock. The Series A Preferred Stock has a liquidation preference of $20 per share, does not pay any dividends or have any voting rights, and can be ...