Eslr, Pmaca, Calx, Taxs - Pennytobuck.com Stock Report
TaxMasters, Inc
TaxMasters, Inc. (OTCBB: TAXS) filed a Current Report on Form 8-K on Wednesday, July 7, 2010 to announce that Patrick Cox, its founder, CEO and majority shareholder, voluntarily entered into a Financial Reorganization Agreement in which Mr. Cox deposited 200 million shares of his TaxMasters common stock with TaxMasters transfer agent, Olde Monmouth Stock Transfer Co., Inc. These shares will be held in escrow by Olde Monmouth for a five year period ending June 30, 2015. During that time, Mr. Cox has waived his right to vote the escrowed shares and he has also waived his right to receive any dividends or other distributions by TaxMasters with respect to the escrowed shares. As a result of Mr. Coxs voluntary escrow of shares, there are now 139,676,105 shares of common stock that can be voted or can receive dividends or other distributions. The 139,676,105 shares will also be the number of shares used to calculate earnings per share for TaxMasters financial statements. After each fiscal year during the five years that Mr. Coxs shares are being held in escrow, Mr. Cox may claw back a portion of the escrowed shares based on a formula linked to the financial performance of TaxMasters. Any shares Mr. Cox does not claw back prior to June 30, 2015 will be turned over to the Company for cancellation. As a result of the Financial Reorganization Agreement, shareholders will have an increased voting power in their stock. For example, a shareholder owning 1,000,000 shares of TaxMasters common stock will have an increase of the voting power of such stock from 0.3% of the voting power to 0.7% of the voting power.
Evergreen Solar, Inc. (NasdaqGM: ESLR), a manufacturer of STRING RIBBON solar power products with its proprietary, low-cost silicon wafer manufacturing technology, reported that it will release financial results for its second quarter ended July 3, 2010 after the market closes on Monday, August 2, 2010.
PMA Capital Corporation (NASDAQ:PMACA) reported that it intends to release its second quarter 2010 financial results on Thursday, July 29, 2010 after the market closes. At that time, a copy of the Companys earnings release and quarterly statistical supplement will be available on the Companys website at www.pmacapital.com in the Investor Information section (choose Current Investor Information). Click on News Releases to access the earnings release and Financial Reports to access the quarterly statistical supplement and investment portfolio detail.
Calix, Inc. (NYSE:CALX) reported unaudited financial results for the second quarter ended June 26, 2010. Revenue for the second quarter of 2010 was $71.7 million, an increase of 50% from revenue reported for the second quarter of 2009 of $47.8 million.
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by: Bill Pennyman
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