Transforma Acquisition Grp. (AMEX:TAQ)
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From May 2019 to May 2024
Transforma Acquisition Group Inc. (AMEX:TAQ) announced today, as
required by American Stock Exchange rules, that the report of its
independent registered public accountants accompanying its 2007 audited
financial statements included an explanatory paragraph regarding the
Company’s ability to continue as a going
concern. Transforma is a publicly traded special purpose acquisition
company (“SPAC”)
formed to acquire a company in the technology, media or
telecommunications industries. Transforma’s
certificate of incorporation contains a provision, common to SPACs,
requiring that it liquidate its assets if it fails to complete a
business combination by June 26, 2008 (or December 26, 2008 if it enters
into a letter of intent, agreement in principle, or definitive agreement
to complete a business combination by June 26, 2008). Because of the
potential for a mandatory liquidation pursuant to the certificate of
incorporation, such disclosure was appropriate in the report
accompanying our 2007 audited financial statements.
About Transforma
Formed in New York, Transforma is a publicly traded, special purpose
acquisition company (“SPAC”)
formed for the purpose of acquiring one or more assets or control of one
or more operating businesses in the technology, media or
telecommunications industries through a merger, capital stock exchange,
stock purchase, asset acquisition or other similar business combination.
If Transforma enters into an agreement for an initial business
combination, the transaction will be subject to stockholder approval,
along with certain regulatory approvals including the filing of a proxy
statement with the Securities and Exchange Commission.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, such as statements
that Transforma may acquire a company in the technology, media or
telecommunications industries, involve risks and uncertainties that
could cause actual results to differ materially from those statements.
Factors that could cause results to differ include the ultimate outcome
and timing of our initial business combination, and the fact that such
an initial business combination may not occur before Transforma is
obligated to liquidate based on its certificate of incorporation.
Additional risks are described in Transforma's periodic reports filed
with the Securities and Exchange Commission from time to time (including
Transforma's Annual Report on Form 10-K). Investors should take such
risks into account when making investment decisions. Stockholders and
other readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date on which
they are made. Transforma undertakes no obligation to update publicly or
revise any forward-looking statements.