Intu And Taxs.ob Making Moves Keep On Your Radar- Pennytobuck.com
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 TAXS.ob common stock with TAXS.obs 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 TAXS.ob 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 TAXS.ob 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 TAXS.ob.
Any shares Mr. Cox does not claw back prior to June 30, 2015 will be turned over to TAXS.ob 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 TAXS.ob 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.
TAXS.ob offers services they customized to bring the most benefit to each of their clients. TAXS.ob can shield you from IRS harassment and lead you to solid ground using proven and effective tax relief services customized to solve your specific tax issues.
Kelley Blue Book, www.kbb.com, the leading provider of new and used car information, announces a new relationship with Mint.com (www.mint.com), a leading free online personal finance service from Intuit Inc. (Nasdaq:INTU). Mint.com provides more than 3.5 million users with a fresh, easy and intelligent way to manage and do more with their money. Through the new agreement, trusted KBB Values will be seamlessly integrated into the Assets and new Goals features on Mint.com, allowing consumers to make more informed car-buying and selling decisions without having to leave the site.
Allowing Mint users to access KBB data provides a more convenient way to manage their money and better track their entire financial picture by eliminating the extra step of having to search for information on third-party sites.
With the addition of KBBs Trade-In and Suggested Retail Values for used cars, and invoice, manufacturers suggested retail price (MSRP) and New Car Blue Book new-car data to Mint.com, Mint users can obtain the value of their current automobile and determine the worth or debt of that particular asset. With Mint.coms new Goals feature, users can plan and track their progress toward a long or short-term goal, such as buying a car. With the availability of Kelley Blue Book Values, users will have a better understanding of how much they need to save and how day-to-day spending will affect the achievement of their goals.
For more information about Kelley Blue Book Values, visit www.kbb.com. For more information about Mint.com, visit www.mint.com.
About Kelley Blue Book (www.kbb.com)
About Mint.com (www.mint.com)
About Intuit Inc. (www.intuit.com)
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by: Bill Pennyman
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