SuperSniper00
03-21-2006, 07:04 AM
Trimax Corporation Announces Cancellation of 16 Million Shares
2006-03-21 07:00 ET - News Release
TORONTO -- (MARKET WIRE) -- 03/21/06
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=113985&ProfileId=051205&sourceType=1
Trimax Corporation (OTC BB: TMXO), a leading provider of Broadband over Powerline (BPL) communication technologies, announces that it has cancelled a total of 16,000,000 shares of common stock and those shares have been returned to authorized but unissued status.
On August 17, 2005, Trimax Corporation entered into a Reorganization Agreement with the shareholders who owned all of the authorized issued and outstanding common stock of PLC Network Solutions, Inc. ("PLC"), a privately held corporation organized under the laws of Ontario.
Pursuant to the Reorganization Agreement, Trimax issued a total of 21,900,000 shares of the Corporation's common stock to the PLC shareholders in exchange for 21,900,000 shares of PLC's common stock, representing all of the outstanding shares of PLC.
It came to the attention of Trimax, as well as the lawyer, auditor, and representatives for the PLC shareholders, that a significant number of the 21,900,000 shares of PLC common stock were not properly subscribed for by the PLC shareholders, were not paid for at the time of the closing of the Reorganization Agreement and have yet to be paid for.
Trimax's management has deemed it in the best interest of the Company and its shareholders that these shares be permanently cancelled. As of March 10, 2006, the Board of Directors of Trimax has cancelled 16,000,000 Trimax shares issued to certain shareholders of PLC.
Trimax has been pleased with the positive feedback it has received from its deployments and test pilot projects installed in various parts of the world. The rapid advance in BPL technologies and its widespread acceptance continues to transform the communications industry. Broadband over Powerline's increased functionality, flexibility and reduced solutions costs continue to fuel customer demand. Trimax continues to aggressively pursue its business plan and is positioning itself with the resources and operations to take advantage of this global technology shift.
About Trimax
Trimax specializes in Broadband over Powerline (BPL) technologies. This technology has been successfully deployed in over 25 countries around the globe, in homes, apartments, office towers, schools, hotels, hospitals, museums and Government buildings. Trimax offers a range of broadband over powerline solutions, which includes offering secure 128kb high-speed Internet access, VoIP services and soon to be offered IPTV technology. The company believes that BPL will be the next widely accepted communications technology. Trimax anticipates that the company and its devices will be at the forefront of this new technology revolution, which includes expanding its reach throughout the world.
For more information please visit (http://www.plcnetsolutions.com/)
Notice Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements regarding the Company's business which are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. Readers are directed to Trimax reports as filed with the U.S. Securities and Exchange Commission from time to time, including but not limited to its most recent annual report on Form 10-KSB for the year ended Sept. 30, 2005, for further information and factors that may affect Trimax business and results of operations. Trimax Corporation undertakes no obligations to publicly update any forward-looking statements to reflect future events or circumstances.
Contact:
Trimax Corporation
Investor Relations
Tel: 1-416-368-4060
Toll Free: 1-877-368-4060
http://www.plcnetsolutions.com
2006-03-21 07:00 ET - News Release
TORONTO -- (MARKET WIRE) -- 03/21/06
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=113985&ProfileId=051205&sourceType=1
Trimax Corporation (OTC BB: TMXO), a leading provider of Broadband over Powerline (BPL) communication technologies, announces that it has cancelled a total of 16,000,000 shares of common stock and those shares have been returned to authorized but unissued status.
On August 17, 2005, Trimax Corporation entered into a Reorganization Agreement with the shareholders who owned all of the authorized issued and outstanding common stock of PLC Network Solutions, Inc. ("PLC"), a privately held corporation organized under the laws of Ontario.
Pursuant to the Reorganization Agreement, Trimax issued a total of 21,900,000 shares of the Corporation's common stock to the PLC shareholders in exchange for 21,900,000 shares of PLC's common stock, representing all of the outstanding shares of PLC.
It came to the attention of Trimax, as well as the lawyer, auditor, and representatives for the PLC shareholders, that a significant number of the 21,900,000 shares of PLC common stock were not properly subscribed for by the PLC shareholders, were not paid for at the time of the closing of the Reorganization Agreement and have yet to be paid for.
Trimax's management has deemed it in the best interest of the Company and its shareholders that these shares be permanently cancelled. As of March 10, 2006, the Board of Directors of Trimax has cancelled 16,000,000 Trimax shares issued to certain shareholders of PLC.
Trimax has been pleased with the positive feedback it has received from its deployments and test pilot projects installed in various parts of the world. The rapid advance in BPL technologies and its widespread acceptance continues to transform the communications industry. Broadband over Powerline's increased functionality, flexibility and reduced solutions costs continue to fuel customer demand. Trimax continues to aggressively pursue its business plan and is positioning itself with the resources and operations to take advantage of this global technology shift.
About Trimax
Trimax specializes in Broadband over Powerline (BPL) technologies. This technology has been successfully deployed in over 25 countries around the globe, in homes, apartments, office towers, schools, hotels, hospitals, museums and Government buildings. Trimax offers a range of broadband over powerline solutions, which includes offering secure 128kb high-speed Internet access, VoIP services and soon to be offered IPTV technology. The company believes that BPL will be the next widely accepted communications technology. Trimax anticipates that the company and its devices will be at the forefront of this new technology revolution, which includes expanding its reach throughout the world.
For more information please visit (http://www.plcnetsolutions.com/)
Notice Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements regarding the Company's business which are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. Readers are directed to Trimax reports as filed with the U.S. Securities and Exchange Commission from time to time, including but not limited to its most recent annual report on Form 10-KSB for the year ended Sept. 30, 2005, for further information and factors that may affect Trimax business and results of operations. Trimax Corporation undertakes no obligations to publicly update any forward-looking statements to reflect future events or circumstances.
Contact:
Trimax Corporation
Investor Relations
Tel: 1-416-368-4060
Toll Free: 1-877-368-4060
http://www.plcnetsolutions.com