BNET Industries

Chadmoore Wireless Group Inc.

(MOORZ) is in the Technology Industry

Last Fiscal Year Sales:$6.7M
  • Public
  • US
Dow Jones Description

As of December 31, 2001, Chadmoore was one of the largest holders in the United States of frequencies in the 800 MHz band for commercial specialized mobile radio service. On February 8, 2002, Chadmoore closed its sale of substantially all of its assets to Nextel Communications, Inc. ("Nextel") for $130 million in cash. Net proceeds to Chadmoore were approximately $103 million after the payoff of Barclays Bank ("Barclays") debt. On January 28, 2002, holders of Chadmoore common stock approved the asset sale to Nextel, the dissolution of Chadmoore and a plan of liquidation (the "Plan"). On February 22, 2002, Chadmoore filed its articles of dissolution, closed its stock transfer record books, de-listed its shares from the over-the-counter bulletin board and began an orderly wind-up of its business operations. The key features of the Plan are o the conclusion of all business activities, other than those related to the execution of the Plan o the sale or disposal of all of Chadmoore's non-cash assets o the establishment of reasonable reserves to be sufficient to satisfy the liabilities, expenses and obligations of Chadmoore not otherwise paid, provided for or discharged o the periodic payment of per share liquidating distributions to shareholders; and o the authorization of the filing of a Certificate of Dissolution with the State of Colorado.

Contact Information

2875 E Patrick Lane

Ste G

Las Vegas, Nevada 89120

7027405633

NAICS Code : 517910

News & Analysis

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