Archive for the ‘Convergence Technology Group Inc. CNVC’ Category

Convergence Technologies, Inc. (CNVC.PK) Announces Acquisition of Public Relations Portal

Friday, March 13th, 2009

Convergence Technologies, Inc. announced yesterday after the closing bell that it has acquired Emerging Issuer. The site www.EmergingIssuer.com provides a destination where money managers, analysits and individual investors can go to watch and discover new investment opportunities. The companies featured by the website typically don’t receive widespread analyst coverage on Wall Street.

The acquisition is part of the company’s strategic plan to build a solid Corporate Advisory Merchant Banking Firm. With Emerging Issuer’s revenues totaling more than $1 million, management believes their services fit in nicely with Convergence’s overall Advisory Model that will be marketed to microcap/smallcap public companies.

The president of Emerging Issuer, Mr. Santana, stated, "We have always focused our energy on finding small and microcap stocks that are in position to build shareholder equity. The companies chosen to be profiled by Emerging Issuer are premier, under-investigated names with solid potential. Emerging Issuer grows simply by helping companies get visibility. When discovered by our technical writers, these companies are investigated in the fullest, with analysis of past performance as well as an eye on the future. After a comprehensive discovery, any pertinent information is sent out to a select but expansive global audience. Our Vmails (Video Emails) are updated daily to give our members a reliable source of information regarding what’s next on Wall Street.”

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Convergence Technologies Group, Inc. (CNVC.PK) Brings Mechant Banking Services to its Clients

Monday, March 9th, 2009

Convergence Technology Group, Inc. (CNVC.PK) recently announced details regarding its vision on how Bookkeeper International Equities Inc. will benefit small cap companies. Earlier this year, Convergence acquired Bookkeeper International, a private merchant banking group that specializes in corporate finance consulting services, merger and acquisition advisory services, and investor relations. Convergence believes that through the use of merchant banking and private equity, Bookkeeper International will provide a unique approach to support small cap companies trading in the U.S. capital markets.

Traditionally merchant banks have been defined as a “European Financial Institution” based upon the geographic origins of the activity. The United States actually does not have merchant banks, but entities that are engaged in the activity of merchant banking. While merchant banking is basically undefined in U.S. banking and security laws, it is understood to mean “negotiated private equity investment by institutions in the unregistered securities of either privately or publicly held companies.”

Those in merchant banking services typically counsel, advise, and provide investment banking to corporations and wealthy individuals on how to use their funds. Merchant bankers act as an agent or principal in mergers and acquisitions, project financing, and advise clients in how to structure the funding needed for projects, as well as assist clients in any negotiations needed to complete their projects. Those considered good merchant bankers are understood to be those that are able to combine experience along professional and/or political contacts in conjunction with creativity and their own capital to structure clients’ deals.

Bookkeeper International works as a principal, rather than a broker, as it commits its own funds along with its expertise and advisory skills to any given project. As a principal, Bookkeeper International is able to take a leadership role by either approving or rejecting deals based upon their strict criteria. Convergence plans to capitalize on the extensive network and skills Bookkeeper International has in place in order to offer current and future clients the unique merchant banking services now available.

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Convergence Technologies, Inc.’s (CNVC.PK) Recent Acquisition of Merchant Banking Group

Monday, February 23rd, 2009

Earlier this month, Convergence Technology announced that it has completed the acquisition of Bookkeeper International Equities Corp. Bookkeeper is an innovative Merchant Banking Firm primarily focused on providing structured financing and comprehensive banking solutions to underexposed and undervalued companies.

Founded in 2006 as a closed-ended Private Fund & Management Merchant Consortium Bank, Bookkeeper Int’l Equities’ objective is to assist Small and Micro-cap Companies with a comprehensive slate of services, including; Investment Banking, Debt & Equity, Bridge Financing, Equity Debt Lines, Business Consulting and Investor Relations. While other hedge funds & merchant banks have recently exited the world of Corporate Finance, this Merchant Banking Firm continues to see great opportunity in raising capital in the smaller public markets.

From initial private and public capital transactions to follow-on offerings, strategic consulting engagements and mergers and acquisitions, the company facilitates the execution of business plans that yield superior investment returns over the medium to long-term time horizon. Bookkeeper only chooses premier, under-investigated names with absolute financial potential.

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Convergence Technologies, Inc. (CNVC.PK) Announces Acquisition of Merchant Banking Group

Tuesday, February 10th, 2009

Today shortly before the opening bell, Convergence Technologies announced its acquisition of Bookkeeper International Equities Corp in an all stock transaction. Bookkeeper International Equities Corp, a private Merchant Banking Group, provides merger & acquisition advisory services, investor relations, and corporate finance consulting services to microcap issuers.

As stated in the terms of the acquisition, Warren Stroud will be stepping down from his duties as Chief Executive to concentrate his efforts on the voice to voice division. The new CEO, Domino Mocharski, is dedicated to increasing shareholder equity and meeting the minimum listing requirements of a Nationally Recognized Exchange.

Mr. Mocharski commented, “In an effort to continue to build shareholder equity, Convergence Technologies, Inc. will be expanding its reach to provide business consulting and corporate finance advisory services to other microcap issuers. These microcap opportunities are typically either in operational or financial difficulty and may need corporate restructuring, merger & acquisition advisory services, and/or bridge financing. They typically face market awareness issues, as well as an inability to attract corporate financing, and require the help of serious, experienced managers to restructure and turnaround their public company operations in an expedient manner.”

He continued, “We will be generally compensated with a combination of cash payments on a case-by-case basis, and outright grants of equity in the form of common stock and warrants for purchasing the common stock of the public company. We believe this compensation plan aligns our interests with the client company’s shareholders because our ultimate compensation is maximized by successfully increasing shareholder equity. Naturally our own intent is also to increase shareholder equity in Convergence as we crystallize our services. A new website is currently being created to define our past and present business interests.”

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Convergence Technology Group, Inc. (CNVC.PK) Announces QualityStocks Coverage

Monday, February 9th, 2009

Convergence Technology Group, Inc. announced they will be featured in upcoming Daily Newsletters, Daily Blogs, Message Boards, and the Small Cap Daily Internet broadcasts put out by QualityStocks. QualityStocks has over 750,000 subscribers to The Daily Stock Newsletter, which is a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters and puts it all into one Free Daily Newsletter Report.

Domino Mocharski, President and CEO of Convergence Technology Group, has the company focused on providing publicly traded companies with the tools and support needed to effectively address the challenges that they face. Since inception, the company has focused exclusively on micro-cap companies. By maintaining this focus, they have developed an acute sense of awareness to their needs and the obstacles they face.

Mr. Mocharski stated, “Convergence Technology has a unique and solid business foundation, and appreciates the opportunity to sponsor the Quality Stocks Newsletter, Video and Blogs. QualityStocks is providing a much needed service in the micro-cap and small-cap markets.”

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Convergence Technologies Inc. (CNVC.PK) CEO Announces Change of Focus

Friday, February 6th, 2009

Today after the closing bell, Warren Stroud, President and CEO of Convergence Technologies Inc., issued the following letter to shareholders:

Dear Shareholders:

After taking a close look at our strengths and weaknesses, we came to the conclusion that we were not fully utilizing our major assets – our management team and our public company. Realizing this, we have modified our business plan.

Convergence Technologies Inc. will be changing its focus from being a vertically-integrated voice to voice company to becoming a conglomerate with a voice to voice division. We are now actively involved in a number of non-telephony related ventures, which will be announced in future releases.

Our primary reason for making the modification was to ensure that we build shareholder equity for our stockholders. It is our objective this year to take steps to list on a Nationally Recognized Exchange.

Our interest is to apply for the NYSE Alternext, formerly known as the American Stock Exchange, which will require us to meet minimum listing requirements. Notable benefits of the NYSE Alternext are improved liquidity, better access to capital markets, and more visibility.

Moving forward, management will be working very hard to make this enterprise a strong, profitable venture.

Sincerely,
Warren Stroud
President and CEO

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Keep Convergence Technologies Group, Inc. (CNVC.PK) on Radar

Tuesday, February 3rd, 2009

Convergence Technologies Group, Inc. provides publicly traded companies with the tools and support needed to effectively address the challenges that they face. Since inception, the company has focused exclusively on microcap companies. By maintaining this focus, they have developed an acute sense of awareness to their needs and the obstacles they face.

As an Advisory Management Consulting Firm, the company focuses on educating management about their own functionality, and understanding the intricacies of the capital markets where they trade. The process of building shareholder value depends greatly on understanding how the markets work in the microcap arena, and the street’s definition of the word “value.”

Convergence Technologies has also developed the resources necessary to bring quality investment banking services to microcap companies. They provide a full range of Capital Services, including financial advisory services related to mergers, acquisitions, restructuring and recapitalizations. By focusing solely on microcap companies, the company can deliver comprehensive financial advice and funding strategies to management teams with sound long-term goals.

President and CEO Domino Mocharski has established a reputation for thinking innovatively and developing creative entrepreneurial strategies. He has experience working in the securities industry and has been active as a private investor for several years in various private/public ventures. Mocharski’s role in business development has aided in the successful increase of shareholder equity for many companies.

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