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An Unofficial and Unauthorized Investor's Site
for
Pen Interconnect (PENC) |
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PENC Quote |
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This site is intended to provide information for the potential Pen Interconnect investor. I have not limited the information to just the favorable events. Over the years, PENC management has made some questionable decisions, at best. In the past, I have been one of their harsher critics. But they look to be turning this thing around...maybe they're just getting lucky in spite of themselves.
So why did I create this site?
Hey, I've got some money tied up here and would like to see others invest, so why not provide a site for some quick DD.
Please do not rely solely on this site for your investment homework...
and remember, this is my site, and only my opinions! |
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What the heck is Pen Interconnect? |
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To Quote the Market Guide, "Pen Interconnect Inc. is a fully reporting public shell company that is looking for a merger or acquisition of new technology. Historically, the Company developed and produced, on a turnkey basis, contract manufacturing solutions for original equipment manufacturers in the computer, telecommunications, electronics, medical and testing equipment industries." Read More... |
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Who is the Latest Merger Candidate? |
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tAA, Inc., also known as The Amanda Company. tAA is a private company headquartered in San Juan Capistrano, CA. They are a supplier of call processing software and systems for industry-standard PC platforms. The company has been around for about ten years. After the merger, tAA will hold 67% of the new company. 33% of something is better than 100% of nothing!! The proxy statement requesting approval of the merger also requests approval for a reverse stock split, anywhere from 1 for 2, up to 1 for 10. The board will decide in your best interest, with a goal of being relisted on the NASDAQ exchange. |
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A Brief History of PENC |
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1974 - Pen Interconnect is founded |
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1985 - Pen Interconnect is incorporated |
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April 1997 - Pen Interconnect acquires PowerStream Technologies, located in Utah. It turns out to be a money loser. |
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December 1997 - Pen Interconnect settles a dispute with TMCI Electronics over the sell of Pen's San Jose division...the first sign of troubles? |
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August 1998 - Stephen Fryer joins Pen Interconnect |
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September 1998 - Robert Albrecht appointed CFO |
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October 1998 - The first of several ill fated acquisitions/mergers is announced - Laminating Technologies Inc. |
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November 1998 - Pen Interconnect announces it's intentions to sell off divisions so that it can concentrate on it's core business. "Given the large number of small and midsize companies in our sector, we see an excellent opportunity for Pen to accelerate revenue growth through acquisistions," said Stephen Fryer, president and chief operations officer of the Salt Lake City company. (CMP Media Inc.) Mr. Fryer remains today as the CEO. |
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March 27, 1999 - Delisted by NASDAQ after selling off MotoSat, PowerStream, and Pen Technologies divisions (no longer met $2 million in net tangible assets rule). "We were devasted," Fryer told EBN. "We had to do a lot of explaining to suppliers and vendors. People wanted to know if we were going out of business (www.techweb.com). |
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April, 1999 - Pen Interconnect to merge with Transdigital Communications Corp. (www.electronicnews.com) |
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December 1999 - Brian Bonar from ITEC joins the PENC Board....WHY!!!!! And why is he still on the board??? |
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2000 - InCirT (assembly and testing services) was turned over to Finova in order to avoid bankruptcy. Turns out Pen Interconnect customers couldn't pay their bills for the delivered goods!! One of those companies was Imaging Technologies (see below). At one time, Pen Interconnect had operations in California, Utah, and China. |
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March, 2000 - Merger announced with perFormplace.com. |
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November 2000 - Merger with perFormplace.com. terminated |
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December 19, 2000 - Imaging Technologies announces plans to acquire Pen Interconnect...reminiscent of the grinch who stole Christmas. |
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February 22, 2001 - The merger agreement with Imaging Technologies (ITEC) is terminated...thank heavens! |
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February 22, 2001 - The merger with tAA is announced...Hey, I'm excited!!...they found a company that has real profits...and isn't involved in a class action lawsuit. Things are finally looking good. |
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Pen Interconnect News Releases |
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Audit of tAA complete - June 19, 2001 |
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PENC & tAA combine headquarters - April 30, 2001 |
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tAA announces an expanded line of products - April 25, 2001 |
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tAA announces new CO - April 10, 2001 |
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PENC reduces debt - March 1, 2001 |
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PENC to merge with tAA - February 22, 2001 |
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Pen Interconnect Links |
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Company Homepage |
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tAA Homepage |
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Raging Bull Message Board |
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CEO Stephen Fryer's telephone number at Pen Interconnect: 714-436-9724 |
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Want to see photos of tAA/Penc Headquarters
in
San Juan Capistrano?? |
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Have some additional info? Send it to me! |
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Don't like what you see? |
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Oh well! |
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You are visitor number |
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Important Disclaimer!!
All of the statements contained on these pages are the opinions of the author. Do yourself a favor, and do your own due diligence, as I won't be held responsible for you losing all of your money!! |
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