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Bket 14 years 4 months ago #836

  • pslt1156
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In 1999 I bought Callmate Telecom International, Inc. (Callmate) (SAFF) shares at USD9.50 through Transnational SA. Callmate later acquired WebEngine Technologies International, Inc. (WebEngine) pursuant to a Share Purchase Agreement effective as of January 5, 2001. Callmate acquired all 12,000,000 shares of common stock of WebEngine in a share exchange, which exchange was effected on a one-for-one basis. The transaction was reported on a Form 8-K filed with the Securities and Exchange Commission on January 16, 2001. Subsequent thereto, Callmate changed its name to BankEngine Technologies, Inc. (BKET). The Company filed the Definitive 14C on March 5, 2001, whatever that means.

On April 2, 2002, Cyberstation Computers and Support Inc., (Cyberstation) and wholly owned subsidiary of the Company, entered into a Common Stock Purchase Agreement between Platinum Telecommunications, Inc. (Platinum) and Mr. Zeeshan Saeed. Pursuant to the Agreement, Cyberstation acquired 70% of the issued and outstanding shares of common stock of Platinum in consideration for 1,800,000 shares of common stock of the Company, par value $0.001 per share. The Agreement was effective as of April 5, 2002.

In December 2003, the Company sold all of its interest in Platinum Telecommunications, as well as all of its shares of CyberStation. The sale of the Platinum shares and the Cyberstation shares was made to Joseph J. Alves. Mr. Alves agreed to sell all of his shares of common stock of the Company on December 9, 2003 to an unaffiliated third party.

On December 18, 2003, the Company entered into a non-binding letter of intent to acquire all of the issued and outstanding capital stock of Syscan, Inc., (SYII.OB). In connection with the acquisition of the capital stock of Syscan, Inc. the Company has agreed to issue that number of shares of its common stock to the shareholders of Syscan, Inc. that represents 90% of the Company's outstanding shares of common stock on a post-transaction basis. The Company currently has 19,775,753 shares of its common stock outstanding.

Over the years I lost track of all these transactions, meanwhile the original SAFF shares became worthless, BKET hasn't done much better. SYII.OB shares have gradually recovered from almost nothing to the USD3.00 level.

My question is do I actually own any BKET or SYII.OB shares given that I bought SAFF shares initially. I plan to write-off the whole exercise as a loss for tax purposes; however, to do so I would need some confirmation that the SAFF shares had at some time been declared worthless. Alternatively, I could sell SYII.OB shares, if I actually own any by default. I find the successive metamorphoses of Telcom to Syscan totally confusing, any help in establishing the status/value of my SAFF shares would be greatly appreciated.
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