Annual meeting will be held on Jan. 11, 2011.
To Our shareholders,
If you take a peak at our audited statement for the year ended April 30.2010 (posted on this site under financials) you should note that our book value as of that date was $2,518,671; or $.378 per share. We are happy to report to you that Compass Knowledge (CKSI) has been acquired and that shareholders will receive an immediate payment of approximately $218,000 per share, which includes a dividend of $8,802 per share. During the year 2011
shareholders may also receive an additional contingent payment of as much as approximately $35,000 per share. Since Initio owned 9 shares that means we will receive approximately $218,000 per share ; a total of $ 1,962,00. Our cost is approximately $268,000 and as of April 30, 2010 it was carried at a valued at $332,000.
We will be posting our financials for the 6 months ended Oct. 31,2010 as soon as they are completed and reviewed by our outside auditors; which we hope will be in early Dec. So check the financial section on this site for more information.
The board has also determined that our annual meeting will be held on Jan. 11, 2011 at the offices of our wholly owned subsidiary at
350 West Passaic Street, 3d floor,
Rochelle Park, NJ at 11:00 0’clock am.