| Business Summary | | Asdar
Group
had
not
conducted
business
operations
until
March
2000.
The
Company
was
inactive
and
a
shell
corporation
from
November
29,
1983,
through
October
1999,
when
it
began
the
process
of
identifying
potential
business
interests,
including,
but
not
necessarily
limited
to,
interests
in
e-commerce.
On
March
8,
2000,
the
Company
signed
a
Technology
Development
Agreement
(Tech
Agreement)
with
TekMaster
Ltd.
(TEK)
and
with
Xntrik
Enterprises
Ltd.
(XEL)
to
fund
development
of
a
scalable
server
platform.
The
Tech
Agreement
calls
for
the
Company
to
issue
2,000,000
shares
of
its
stock
and
to
fund
$200,000
dollars
in
Canadian
Funds
for
ongoing
development
costs.
The
Tech
Agreement
also
calls
for
XEL
to
design
and
develop
the
software
and
for
TEK
to
design
an
interface
for
an
administrative
toolkit
to
manage
clients. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Asdar
Group
has
conducted
no
business
operations
since
1990
other
than
the
pursuit
of
a
merger,
or
reverse
acquisition
with
an
active
business
operation
interested
in
restructuring
itself.
For
the
six
months
ended
6/30/01,
the
Company
reported
no
revenue.
Net
loss
totalled
$466
thousand,
up
from
$231
thousand.
Results
reflect
the
absence
of
revenues
as
well
as
an
increase
in
travel,
consulting,
management
and
professional
fees. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Stephen Nemergut, 51 | Pres,
Sec., Director |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|