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| PennyProfits - Corporate Tidbits |
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11/5/02 - UCSY - Universal Communication Systems, Inc. announced that management has reached a settlement with Andrews Corporation of Orland Park, IL. Under the settlement agreement, the company has issued a promissory note in the amount of $300,000 in exchange for Andrews Corporation's cancellation of $1,400,458 of balances outstanding, incurred under the company's prior management's control. The note is secured by 300,000 shares of the company's common stock held in escrow and is payable over 18 months.11/1/02 - BGII - BGI Inc. announced that it has settled its ongoing disputes regarding its business activities in Rio Grande City, Texas, with the District Attorney's Office of Starr County. On October 31, 2002, BGI announced a similar settlement regarding activities in Laredo, TX with the District Attorney's Office in Webb County and, similiarly, on October 22, 2002, relating to activities in Bexar County with that counties District Attorney's Office.
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