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Home > News > Nano Firm Makes Reverse Merger

June 3rd, 2007

Nano Firm Makes Reverse Merger

Abstract:
Verutek Technologies cleans soil. StreamScape Minerals was supposed to dig valuable minerals out of it. But the two didn't come together over their connection to the land.

No, when Glastonbury-based Verutek last month acquired StreamScape, it was digging for something far more valuable than rights to eight unproven Canadian mineral mines: access to the publicly traded market.

StreamScape, a Nevada corporation formed to explore mine holding in British Columbia, had been traded on the Over The Counter Bulletin Board, the so-called "penny stock" market owned by Nasdaq, since 2004. It never turned a profit, but it was publicly traded.

Of course, Verutek has never made a profit either. Filings show the 14-person firm has lost $4.2 million since February 2006. But its co-founders, John Collins and George Hoag, believe they have revolutionary technologies that have a major impact on the ground remediation industry.

Source:
hartfordbusiness.com

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