| Business Summary | | Zenascent,
Inc.,
formerly
known
as
Fusion
Fund
Inc.,
currently
provides
venture
capital
incubation
for
Internet
technology
and
e-commerce
businesses.
The
Company
intends
to
redefine
its
business
model
to
focus
on
the
promotion
of
sports
and
entertainment
events.
On
February
15,
2001,
Zenascent
entered
into
a
letter
of
intent
to
acquire
Cedric
Kushner
Promotions,
Inc.
(CKP),
an
international
boxing
promotion
company.
Under
the
tentative
agreement,
Zenascent
plans
to
acquire
CKP
as
a
wholly
owned
subsidiary
in
exchange
for
approximately
65%
ownership
of
Zenascent
and
an
undisclosed
monetary
sum.
No
assurance
may
be
given
that
this
acquisition
will
be
completed
on
these
terms,
if
at
all.
Currently,
the
Company
provides
its
clients
with
financial,
managerial
and
networking
expertise
to
assist
their
development
and
growth
in
Internet
and
e-commerce
markets. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Zenascent,
Inc.
provides
venture
capital
incubation
for
Internet
technology
and
e-commerce
businesses.
The
Company
intends
to
redefine
its
business
model
to
focus
on
the
promotion
of
sports
and
entertainment
events.
For
the
three
months
ended
4/30/01,
the
Company
reported
no
revenues.
Net
income
totalled
$823
thousand,
vs.
a
loss
of
$4.1
million.
Results
reflect
decreased
S/G/A
costs
and
a
$906
thousand
debt
extinguishment
income. | More
from
Market Guide: Significant
Developments |
| | | Ara
Proudian,
Chmn. James
F. Mullen,
Pres./Treas. Steven
Angel,
Secy. | More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
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