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TOPIC: ASCQ - Ascend Acquisition Corp.

ASCQ renamed to Kitara Media Corp. 4 years 1 month ago #1695

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ASCQ renamed to Kitara Media Corp., new symbol is KITM

www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=ALL&d=08/19/2013
Last Edit: 4 years 1 month ago by Editor.
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Roll-Up King Jonathan Ledecky is Back 4 years 1 month ago #1682

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Roll-Up King Jonathan Ledecky is Back


A 90′s investment manager who made a killing buying small independent companies in the same business line and stuffing them into a public company is back. Harvard alumni Jonathan Ledecky has just sealed a deal creating the first SPAC in the mobile advertising space. I interviewed the SPAC CEO for Growth Capitalist today who says Ledecky is going all in with a big bet on this space. This means they expect to start gobbling up more digital ad companies–especially ones who’ve figured out how to make revenue off those annoying video ads media companies like Forbes force you to watch before you get to their stories.

Last year Ledecky started buying video gaming companies but quickly branched out from trying to score off a Zynga like play. Then he found this ad executive Robert Regular and wooed him into allowing his private advertising exchange company, Kitara Media, to be part of the SPAC. Regular got a nice salary contract and ten million in the SPAC’s stock in return for agreeing to be Ledecky’s CEO. This is good news for budding start-up guys in mobile advertising because it means there are deep pockets out their looking to buy your company if you fit with the SPAC’s strategy. You’ll need $5-15 million in revenue and the SPAC* CEO Robert Regular (it’s called Ascend Acquisition Corp $ASCQ) might be interested in doing due dilly on your budding business.

This isn’t Robert Regular’s first rodeo either. He’s was part of a team that made sick big money on the sell of Right Media to Yahoo for $800 million six years ago. He then built Kitara Media from a boot strapped budget over five years, saying no-no to Vulture Capital money, and some how has it earning real money…like $20 million in yearly revenue. They haven’t filled SEC documents detailing how he built Kitara yet (audited Balance Sheet and Income Statement is coming) and wouldn’t tell me if there is actually a net profit. But in our Growth Capitalist interview he extolled he thinks the market will see it as real company, making real money , with a solid chance to make a ton more (I’m paraphrasing).

Check out www.growthcapitalist.com for more insight into the deal and additional VC interest in the space.

*SPAC = Special Purpose Acquisition Company. Hedgies go out and get investors to trust them blindly and give them millions. They use this shell company to buy other companies but it’s not totally clear what they might buy when you first invest (RISKY). Then without the pain in the butt work of a roadshow for a traditional IPO (or expensive investment banking fees) they just do a reverse merger with a private company and boom it’s public because the SPAC already went out did the leg work to get that neat little ticker symbol ($ASCQ) so it could trade on the public markets. This stock is usually really cheap at first and the gamble is the guys running the SPAC will actually buy stuff that the market thinks can make real dollars…not just have manipulated cash flow statements and revenue numbers that they don’t always collect the cash on. If you’re selling your company into the SPAC and you have to lock up all the stock they gave you but then you get sold out of the SPAC or shut down then you could get screwed and not earn a lot (RISKY). But if you get to stay in and one of the companies in the SPAC earns a NET PROFIT and people buy the stock. Holly Cow your little start up just made you a millionaire. Only three SPAC deals have been done this year according to this research. So it’s going to be interesting to see if hedgies are going to start make an investing comeback with them.

www.teribuhl.com/2013/07/15/roll-up-king...han-ledecky-is-back/

I OWN SHARES IN ASCQ PURCHASED IN THE OPEN MARKET.
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ASCQ completes merger 4 years 2 months ago #1680

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Ascend Acquisition Corp. Completes Merger with Kitara Media and New York
Publishing Group

Online video advertising company Kitara Media completes merger.

JERSEY CITY, N.J., July 11, 2013 (GLOBE NEWSWIRE) -- via PRWEB - Ascend
Acquisition Corp. ("Ascend") (OTCBB:ASCQ) today announced that it has
completed the merger with Kitara Media, LLC ("Kitara Media") and New York
Publishing Group, Inc. ("NYPG"). Kitara Media is an online video solutions
provider that increases revenue to website publishers. NYPG is a publisher of
Adotas, a premier website and daily email newsletter reaching over 100,000
targeted advertising professionals. The combined company will offer enhanced
capabilities to reach publishers and customers with its video advertising
platform. Prior to the closing of the merger, Ascend obtained the written
consent from holders of a majority of its then outstanding common stock to
change its name to "Kitara Media Corp." to better reflect the combined
company's operations going forward. The name change will be effective twenty
calendar days after the mailing of an information statement to Ascend's
stockholders alerting them to the action.

The combined company projects revenues of approximately $20 million in 2013
and has approximately $4 million in working capital, including funds from a
simultaneous $2 million private placement of stock at $0.50 per share.

"We are pleased that the merger is now complete and look forward to Kitara
Media and NYPG being part of a public company. We believe the online video
advertising market will experience 75% growth over the next two years and we
believe the combined company is well positioned to take advantage of this
explosive growth," said Robert Regular, Kitara founder and Chief Executive
Officer. "Kitara Media is focused on growing both organically and through
select acquisitions."

The transaction included the issuance of 30 million shares of Ascend common
stock to the former owners of Kitara Media and NYPG and the cancellation of
approximately 26 million shares previously held by individuals associated with
the Andover Games subsidiary of Ascend. As a result, the combined company now
has approximately 59 million shares outstanding, including 4 million shares
issued in the private placement. As part of the transaction, the Andover Games
subsidiary will be closed and its operations discontinued.

Robert Regular has been named Chief Executive Officer of Ascend and the Kitara
Media team will remain in place. Craig dos Santos will remain a senior officer
of the combined company. Ben Lewis, a member of Ascend's board of directors,
and Lee Linden, a consultant to Ascend, will remain significant stockholders
of the combined company, and Mr. Lewis will remain on the Board of Directors
of the combined company.

Further information on the transaction will be included in a Current Report on
Form 8-K to be filed by Ascend with the Securities and Exchange Commission.

About Kitara Media

Kitara Media currently reaches up to 50 million people a month using its state
of the art proprietary video ad technology. Kitara Media delivers millions of
videos and banner ads per month. It currently employs 35 individuals and is
headquartered in Jersey City, New Jersey with a satellite office in San
Francisco, California. For more information on Kitara Media, please go to
www.kitaramedia.com.

About New York Publishing Group, Inc.

NYPG's Adotas division provides news and information on media buying,
planning, selling, technology and activities of the digital media business to
the interactive advertising community. Adotas aggregates over 100 contributing
writers and experts through its website and newsletter. For more information
on New York Publishing Group, please go to www.adotas.com.

The information on Kitara Media's and Adotas' websites are not, and shall not
be deemed to be, a part of this notice or incorporated in filings Ascend makes
with the SEC.

www.prweb.com/releases/2013/7/prweb10910885.htm

I OWN SHARES IN ASCQ PURCHASED IN THE OPEN MARKET.
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ASCQ - Additional merger 4 years 3 months ago #1678

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Ascend Acquisition Corp. Announces Merger with Kitara Media and New York Publishing Group

Ascend Acquisition Corp. Announces Merger with Kitara Media and New York Publishing Group

Business Wire

JERSEY CITY, N.J. -- June 12, 2013

Ascend Acquisition Corp. (“Ascend”) (OTC BB: ASCQ) today announced that it has signed a definitive merger agreement pursuant to which Kitara Media, LLC (“Kitara Media”) and New York Publishing Group, Inc. (“NYPG”) will become wholly owned subsidiaries of Ascend in exchange for 30 million shares of Ascend common stock. Kitara Media is an online video solutions provider that increases revenue to website publishers. NYPG is a publisher of Adotas, a premier website and daily email newsletter reaching over 100,000 targeted advertising professionals. The combined company will offer enhanced capabilities to reach publishers and customers with its video advertising platform.

The combined company projects revenues of approximately $20 million in 2013. After the transaction closes, it is expected that the combined company will have approximately $4 million in cash and no debt on its balance sheet.

“We believe the online video advertising market will experience 75% growth over the next two years and the combined company is well positioned to take advantage of this explosive growth,” said Robert Regular, Kitara founder and Chief Executive Officer. “We are excited about the potential of Kitara Media and NYPG merging with Ascend, which positions the company to grow both organically and through select acquisitions.”

The transaction, which is expected to close within one month, includes the cancellation of approximately 26 million shares currently held by individuals associated with the Andover Games subsidiary of Ascend. After closing, the combined company is expected to have approximately 59 million shares outstanding. As part of the transaction, the Andover Games subsidiary will be closed and its operations discontinued.

“Kitara Media has developed a proprietary video advertising delivery platform called Propel+ to optimize and achieve maximum revenue per ad view for each website client,” said Craig dos Santos, Ascend President and Chief Executive Officer. “The company has scaled its business model without raising outside capital, which differentiates it from competitors in the space.”

In connection with the transaction, Ascend intends to seek approval to change its name to Kitara Media Corp.

In the combined company Robert Regular will be Chief Executive Officer and the Kitara Media team will remain in place. Craig dos Santos will remain a senior officer of the combined company. Ben Lewis, a member of Ascend’s board of directors, and Lee Linden, a consultant to Ascend, will remain significant stockholders of the combined company, and Mr. Lewis will remain on the Board of Directors of the combined company.

The transaction has been approved by the sole member of Kitara Media and Boards of Ascend and NYPG, and is subject to receipt of necessary consents and satisfaction of customary closing conditions. There can be no assurance that a closing will occur.

About Kitara Media

Kitara Media currently reaches up to 50 million people a month using its state of the art proprietary video ad technology. Kitara Media delivers millions of videos and banner ads per month. It currently employs 35 individuals and is headquartered in Jersey City, New Jersey with a satellite office in San Francisco, California. For more information on Kitara Media, please go to www.kitaramedia.com.

About New York Publishing Group, Inc.

NYPG’s Adotas division provides news and information on media buying, planning, selling, technology and activities of the digital media business to the interactive advertising community. Adotas aggregates over 100 contributing writers and experts through its website and newsletter. For more information on New York Publishing Group, please go to www.adotas.com.

Forward Looking Statements

www.bloomberg.com/article/2013-06-12/aZXe.LEKsSXM.html

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ASCQ - Completes previously announced reverse merger with Andover Game 5 years 6 months ago #1618

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Andover Games (ASCQ) new executive officers, directors and advisors:

Name Age Position Following Change of Control
Jonathan J. Ledecky 54 Non-Executive Chairman of the Board and Interim Chief Financial Officer
Craig dos Santos 30 Chief Executive Officer and Director
Jeremy Zimmer 53 Director
Ben Lewis 31 Director
Richard Hecker 27 Director
Lee Linden 30 Advisor

Jonathan J. Ledecky
Mr. Ledecky served as the Company’s chief executive officer from January 2011 to February 2012, and has served as chief financial officer and as a member of the Company’s Board of Directors since January 2011. Mr. Ledecky has served as chairman of Ironbound, a private investment management fund, since March 1999. Since June 1999, Mr. Ledecky has also served as chairman of the Ledecky Foundation, a philanthropic organization which contributes funds to programs for the education of disadvantaged inner city youth in Washington, D.C., New York and Boston. From June 2007 to October 2009, Mr. Ledecky served as president, secretary and a member of the board of directors of Triplecrown Acquisition Corp., a blank check company that completed a business combination with Cullen Agricultural Technologies, Inc. From July 2005 to December 2007, Mr. Ledecky served as president, secretary and a director of Endeavor Acquisition Corp., a blank check company that completed a business combination with American Apparel. From January 2007 to April 2009, Mr. Ledecky served as president, secretary and a director of Victory Acquisition Corp., a blank check company that did not complete a business combination and returned all of its capital, representing approximately $330 million, to its public shareholders. In October 1994, Mr. Ledecky founded U.S. Office Products and served as its chief executive officer until November 1997 and chairman until June 1998. During his tenure, U.S. Office Products completed over 260 acquisitions, and grew to a Fortune 500 company with over $2.6 billion in revenues. In June 1998, U.S. Office Products completed a comprehensive restructuring plan whereby four separate entities were spun off to stockholders and U.S. Office Products underwent a leveraged recapitalization. In connection with these transactions, Mr. Ledecky resigned from his position as chairman of U.S. Office Products and became a director of each of the four spin-off entities. In February 1997, Mr. Ledecky founded Building One Services Corporation (originally Consolidation Capital Corporation), an entity formed to identify attractive consolidation opportunities which ultimately focused on the facilities management industry. In November 1997, Building One raised $552 million in an initial public offering. Mr. Ledecky served as Building One’s chief executive officer from November 1997 through February 1999 and as its chairman from inception through its February 2000 merger with Group Maintenance America Corporation. During his tenure with Building One, it completed 46 acquisitions and grew to over $1.5 billion in revenues. From July 1999 to July 2001, Mr. Ledecky was vice chairman of Lincoln Holdings, owners of the Washington sports franchises in the NBA, NHL and WNBA. Since June 1998, Mr. Ledecky has served as a director of School Specialty, a Nasdaq Global Market listed education company that provides products, programs and services that enhance student achievement and development. School Specialty was spun out of U.S. Office Products in June 1998. Since 1994, Mr. Ledecky has been involved with numerous other companies in director positions. Mr. Ledecky was a trustee of George Washington University, served as a director of the U.S. Chamber of Commerce and served as commissioner on the National Commission on Entrepreneurship. In addition, in 2004, Mr. Ledecky was elected the Chief Marshal of the 2004 Harvard University Commencement, a singular honor bestowed by his alumni peers for a 25th reunion graduate deemed to have made exceptional contributions to Harvard and the greater society while achieving outstanding professional success. Mr. Ledecky received a B.A. (cum laude) from Harvard University in 1979 and a M.B.A. from the Harvard Business School in 1983. We believe Mr. Ledecky is well-qualified to serve as a member of the Board of Directors due to his public company experience, operational experience and business contacts.

Craig dos Santos
Mr. dos Santos has served as our chief executive officer and a member of our Board of Directors since February 2012. Mr. dos Santos co-founded Andover Games in January 2011. In August 2009, Mr. dos Santos started the mobile division of Playdom and served in numerous positions, most recently as executive producer, until October 2010. Playdom focused on social games on Facebook and MySpace. While at Playdom, Mr. dos Santos grew the mobile team and launched games on iOS, Android and WebOS. As an early entrant into the mobile social games space, Mr. dos Santos helped Playdom launch Mobsters, Sorority Life and Social City, all of which were in the top 25 charts in the Apple App Store. Playdom also launched many other successful social games on Facebook before being sold to Disney for up to approximately $760 million in August 2010. Prior to Playdom, Mr. dos Santos was at iLike from July 2008 until February 2009. iLike was a launch partner during the first launch of the Facebook Platform. At iLike, Mr. dos Santos was in charge of monetization of applications and helped strike deals with Rhapsody, Ticketmaster, Comscore and Nielsen. iLike was sold to MySpace in 2009. From 2002 to 2006, Mr. dos Santos worked at Microsoft, where he was on the Microsoft Passport and Microsoft Windows Core Security teams. He was responsible for some of the security features in Windows XP as well as Windows Vista. Mr. dos Santos graduated from Rice University in 2003 with a Bachelors of Science in Electrical and Computer Engineering. We believe Mr. dos Santos is well-qualified to serve as a member of the Board of Directors due to his experience in the mobile gaming industry and his business contacts.

Jeremy Zimmer
Mr. Zimmer has served as a member of our Board of Directors since February 2012. Mr. Zimmer is a founding partner, Chief Executive Officer and board member of United Talent Agency, a talent and literary agency formed in 1991. At United Talent Agency, Mr. Zimmer oversees more than 125 agents and over 350 employees in Beverly Hills and New York, representing many widely- known and award-winning artists working in all current and emerging areas of entertainment, including motion pictures, television, music, digital media, books, and branded entertainment. The agency is also recognized worldwide in the areas of film and television packaging, film finance, corporate consulting, branding & licensing, endorsements and the representation of production talent. Mr. Zimmer has been a key figure behind United Talent Agency’s growth beyond film and television representation, having established the agency’s Digital, Branding, Licensing, and Endorsements divisions. Mr. Zimmer is also involved in United Entertainment Group, a joint venture company which today is among the industry’s largest independent branded entertainment and integrated media firms providing marketing solutions to major consumer brands. From 1984 to 1989, Mr. Zimmer was with International Creative Management where he eventually led both the Motion Picture Literary and Motion Picture Packaging departments. Then he joined Bauer/Benedek Agency, a talent agency, and served as a Partner there until he co-founded United Talent Agency in 1991. Mr. Zimmer created and oversees United Talent Agency’s Agent Trainee Program and is a frequent speaker on the role of Hollywood in business and culture, and he has taught on the graduate level of UCLA’s Producers Program. He also sits on the Board of Overseers for the Hammer Museum. We believe Mr. Zimmer is well-qualified to serve as a member of the Board of Directors due to his operational experience and business contacts.

Ben Lewis
Mr. Lewis has served as a member of our Board of Directors since February 2012. Mr. Lewis co-founded Andover Games in January 2011. Mr. Lewis co-founded Tapjoy, a leader in mobile application distribution and monetization, in August 2008, with Lee Linden. Tapjoy started out with a single iPhone game, TapDefense, which was downloaded more than 20 million times and helped launch the Tapjoy ads platform. The Tapjoy ads platform was a new way to monetize free mobile applications. After reaching revenue of $1 million per month in March 2010, Tapjoy merged with Offerpal Media, which had a similar business model for Facebook traffic. By March 2011, Tapjoy had 70 employees and was generating over $100 million in annualized revenue and an estimated 60 percent of paid app distribution. Mr. Lewis then left to pursue a new mobile opportunity with Lee Linden called Karma Science, a San Francisco based mobile e-commerce company that makes products and services instantly giftable to millions of consumers from their smartphones. Mr. Lewis graduated from the University of Michigan with a Computer engineering degree in 2001. He started his professional career at Microsoft from July 2002 to August 2003 as one of the founding engineers of the Xbox Live team. He then returned to the University of Michigan to get his MBA. After graduating from Michigan again, Mr. Lewis went to pursue a career at Google as a Product Manager. While at Google from July 2005 to January 2009, Mr. Lewis managed many successful products including growing the Toolbar from 60 million to 200 million-plus users, managing the launch and growth of Google Checkout, adding sports scores to Search and other products, as well as winning two EMG awards for his work on client team products. While at the University of Michigan, Mr. Lewis also co-founded an internet company called Bidcentives with Lee Linden. We believe Mr. Lewis is well-qualified to serve as a member of the Board of Directors due to his experience in the mobile gaming industry and his business contacts.

Richard Hecker
Mr. Hecker has served as a member of our Board of Directors since February 2012. Mr. Hecker has been a board member of Andover Games since January 2011. In March 2011, Mr. Hecker founded Stockton Equity LLC, a private equity firm specializing in digital media and direct marketing turn-around situations, and serves as its Managing Director. He also co-founded Double Dutch Studios Inc, parent of inSparq, a referral marketing platform for online retailers, in June 2011 and serves as its Executive Chairman. He also recently co-founded tractionandscale.com, an investment company. From June 2010 to March 2011, Mr. Hecker was a consultant for Bebo.com, a social networking internet site. From September 2006 to June 2010, Mr. Hecker was the “chief bootstrapper” at Bootstrapper.com, a blog and conference producer for the private equity, venture capital and digital media industries. From June 2008 to January 2009, Mr. Hecker was Chief Marketing Officer of Groupable.com, an online marketplace and platform connecting groups and sponsors. From October 2003 to March 2006, Mr. Hecker was the Chairman and Chief Executive Officer of ZenFinancial, Inc., a call center outsourcing company. In April 2000, Mr. Hecker co-founded ClickZen Worldwide, an interactive advertising agency based in New York, and served as its President until September 2002. In March 2008, Mr. Hecker co-founded TakesAllTypes.org, a non-profit social media platform for blood donation. Mr. Hecker also serves as a board member of Stakehouse, a social betting platform, and Buyinara, an email marketing company for the direct response television industry. Mr. Hecker graduated from the State University of New York at Binghamton with a B.S. in financing. We believe Mr. Hecker is well-qualified to serve as a member of the Board of Directors due to his IT experience and his business contacts.

Lee Linden
Mr. Linden has served as an advisor to our Board of Directors since February 2012. Mr. Linden co-founded Andover Games in January 2011. Mr. Linden co-founded (with Ben Lewis) Karma Science in March 2011 and Tapjoy in August 2008. At Tapjoy, Mr. Linden led fundraising and drove business development until its merger with Offerpal Media in March 2010. He then helped grow the combined business to over $100 million in annual revenue, over 9,000 network applications, and the development of first party applications with over 45 million downloads. Prior to Tapjoy, Mr. Linden worked as an associate at Kleiner Perkins Caufield & Byers from February 2008 to the end of 2008 and was a key member of the iFund team, which has made investments in several leading mobile companies. From June 2003 to May 2007, Mr. Linden worked in product development at Microsoft, leading engineering teams for both enterprise and consumer offerings including co-founding the Windows Home Server division. He is also the co-founder of ContestMachine (via YCombinator), a self-service online promotional marketing service with thousands of small business customers. Mr. Linden also co-founded an internet company called Bidcentives with Ben Lewis. Mr. Linden received a degree in computer engineering at the University of Michigan in 2003 and obtained an MBA from Stanford's Graduate School of Business 2009
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ASCQ - Completes previously announced reverse merger with Andover Game 5 years 6 months ago #1616

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Below are a few highlights about the reverse merger with Andover Games from the 8K. There is also alot of info about the mobile gaming industry in general and if you are interested in this industry, I would recommend the 8K as a must-read:

- Andover Games is a company formed to create and distribute game applications on current smartphone and other mobile platforms, namely iOS and Android, as well as future competing smartphone platforms.
- Our Vision for Play: We founded Andover Games in January 2011 with the belief that mobile entertainment is becoming one of the most ubiquitous forms of entertainment as smartphone devices become the standard. We believe that online and mobile games are no longer a past time for just male teenagers. All ages are spending more time on their mobile devices, and the demand for high quality mobile entertainment will continue to increase. We aim to bring together the best teams of game designers and engineers and pioneer a new standard for mobile entertainment.
- Our Core Strengths: We believe the following strengths provide us with competitive advantages:
Mobile Gaming Knowledge. All three of Andover Games’ founders, namely Craig dos Santos, Ben Lewis and Lee Linden, have built games that hit the top of the Apple App Store charts. We understand how to develop and, as importantly, operate a game as a service, monetizing it using the free to play model with virtual goods and other revenue methodologies.
Industry Connections. Andover Games’ founders are well known in the game industry, having worked at a top social gaming company (Playdom) and founded and created the top marketing distribution network on iOS (Tapjoy). We believe that we will be able to attract and recruit some of the best talent to work on our games because of our experience and contacts in the industry.
· Forward Looking Technology: We intend to create a cross platform game engine that allows us to port games easily across iOS and Android smartphones. We also intend to create an animation framework that brings techniques from the 3D console gaming world to mobile devices for the first time. These assets will allow us to develop games and content faster and with higher quality than our competition.
- Simultaneously with the Closing, Ascend sold 4,000,000 shares (“Shares”) of its common stock, at $0.50 per share, for gross proceeds of $2 million to 15 accredited investors, including Ironbound Partners Fund, LLC (“Ironbound”), an affiliate of Jonathan J. Ledecky, Ascend’s former Chief Executive Officer and the holder of approximately 85% of Ascend’s outstanding common stock prior to the consummation of the merger and Financing.
- Lock Up Agreement: Pursuant to the terms of lock-up agreements entered into upon signing of the Merger Agreement, all of the officers, managers and former holders of membership interests of Andover Games, together with Jonathan J. Ledecky and Ironbound, have agreed not to sell their shares of Ascend common stock until the 12-month anniversary of the Closing.

www.sec.gov/Archives/edgar/data/1350773/...13323/v304722_8k.htm
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