NSAQ North Shore Acquisition Corp. featured news, full reports, and detailed charts
North Shore Acquisition Corp. (NSAQ/NSAQ.OB) Wrap Up:
North Shore Acquisition Corp. does not have significant operations. It intends to acquire an operating business through a merger, capital stock exchange, asset acquisition, or other similar business combination. The company was founded in 2007 and is based in Great Neck, New York.Founded in 2007
North Shore Acquisition Corp. (NSAQ:OTC Bulletin Board Market)
LAST $7.70 USD
CHANGE TODAY 0.00 0.00%
VOLUME 0.0
As of November 10, 2009 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of North Shore Acquisition Corp. (NSAQ)
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OPEN
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PREVIOUS CLOSE
$7.70
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DAY HIGH
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DAY LOW
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52 WEEK HIGH
09/16/09 - $7.78
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52 WEEK LOW
11/20/08 - $6.98
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MARKET CAP
61.1M
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AVERAGE VOLUME 3 mo
400.0
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DILUTED EPS TTM
--
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SHARES OUTSTANDING
7.9M
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NSAQ Does Not Pay Dividends
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P/E TTM
NM
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NSAQ Top Compensated Officers
No compensation data is available at this time for the top officers at this company.
Executives, Board Directors
Key developments for North Shore Acquisition Corp. (NSAQ)
North Shore Acquisition Corp. announced delayed 10-Q filing
11/17/2009
On 11/17/2009, North Shore Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
North Shore Acquisition Corp. Proposes to Amend Certificate of Incorporation
11/17/2009
North Shore Acquisition Corp. announced that a special meeting of stockholders will be held on November 30, 2009, to consider and vote upon two proposals to amend company's amended and restated certificate of incorporation to: extend the date by which the company must complete a business combination from November 30, 2009 to January 31, 2010, before it is required to liquidate (and in connection with such proposal, the stockholders are authorizing the company to amend the trust agreement established in connection with company's initial public offering to extend the date by which the trust account established in connection with the IPO must be liquidated from November 30, 2009 to January 31, 2010); and to allow public holders (not including officers, directors and holders of company's common stock prior to the IPO) of less than 40% of company's outstanding common stock, par value $0.0001 per share, who vote against the extension amendment and elect conversion to convert their common stock into a portion of the funds available in the trust account.
North Shore Acquisition Corp., Special/Extraordinary Shareholders Meeting, Nov 30, 2009
11/17/2009
North Shore Acquisition Corp., Special/Extraordinary Shareholders Meeting, Nov 30, 2009, at 10:00 US Eastern Time. Location: Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., North Shore’s counsel, The Chrysler Center, 666 Third Avenue, 25th Floor, New York, NY 10017, United States. Agenda: To consider and vote upon two proposals to amend company's amended and restated certificate of incorporation to: extend the date by which the company must complete a business combination from November 30, 2009 to January 31, 2010, before it is required to liquidate (and in connection with such proposal, the stockholders are authorizing the company to amend the trust agreement established in connection with company's initial public offering to extend the date by which the trust account established in connection with the IPO must be liquidated from November 30, 2009 to January 31, 2010); and to allow public holders (not including officers, directors and holders of company's common stock prior to the IPO) of less than 40% of company's outstanding common stock, par value $0.0001 per share, who vote against the extension amendment and elect conversion to convert their common stock into a portion of the funds available in the trust account.
NSAQ Competitors
| Company | Last | Change | |
| No competitor information is available for NSAQ. | |||
| Market data is delayed at least 20 minutes. | |||
Industry Analysis
| Valuation | NSAQ | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | -- | Not Meaningful |
| Price/Book | 2.2x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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NSAQ |
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NSAQ transactions
| Type Date |
Target |
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Merger/Acquisition
September 8, 2009 |
Sungdong Industries Co. Ltd |
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Private Placement
September 8, 2009 |
Sungdong Industries Co. Ltd |
More Recent News About North Shore Acquisition Corp.
More news for NSAQ
NORTH SHORE ACQUISITION CORP. Files SEC form 8-K, Other Events
Item 8.01 Other Events. Attached as Exhibit 99.1 is an updated investor presentation being made by North Shore Acquisition Corp. ("North Shore") in connection with its proposed business combination with Sungdong Industries Co., Ltd. Non-GAAP Financial Measures The investor presentation attached as Exhibit 99.1 contains disclosure of EBITDA for certain periods, which may be deemed to be a non-GAAP financial measure within the meaning of Regulation G promulgated by the SEC. Management believes that EBITDA, or earnings before interest, taxes, depreciation and amortization, is an appropriate measure of evaluating operating performance and liquidity, because it reflects the ability of SDI to meet capital expenditures and working capital requirements and otherwise meet its requirements as they become due. The disclosure of EBITDA may not be comparable to similarly titled measures reported by other companies. EBITDA should be considered in addition to, and not as a substitute, or superior to, operating income, cash flows, revenue, or other measures of financial performance prepared in accordance with generally accepted accounting principles. Forward Looking Statements This Current Report on Form 8-K, and other statements North Shore may make, including statements about the benefits of the transaction with SDI, contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, with respect to North Shore's future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "expect," "anticipate," "forecasts," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain...Click here to read the whole Article (external link)
NORTH SHORE ACQUISITION CORP. Files SEC form 8-K, Regulation FD Disclosure, Other Events, Financial Statements and Ex
Item 8.01 Other Events The information set forth under Item 7.01 above is incorporated herein by reference. Non-GAAP Financial Measures The investor presentation attached as Exhibit 99.1 contains disclosure of EBITDA for certain periods, which may be deemed to be a non-GAAP financial measure within the meaning of Regulation G promulgated by the SEC. Management believes that EBITDA, or earnings before interest, taxes, depreciation and amortization, is an appropriate measure of evaluating operating performance and liquidity, because it reflects the ability of SDI to meet capital expenditures and working capital requirements and otherwise meet its requirements as they become due. The disclosure of EBITDA may not be comparable to similarly titled measures reported by other companies. EBITDA should be considered in addition to, and not as a substitute, or superior to, operating income, cash flows, revenue, or other measures of financial performance prepared in accordance with generally accepted accounting principles. Forward Looking Statements This Current Report on Form 8-K, and other statements North Shore may make, including statements about the benefits of the transaction with SDI, contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, with respect to North Shore's future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "expect," "anticipate," "forecasts," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," ...Click here to read the whole Article (external link)
NORTH SHORE ACQUISITION CORP. Files SEC form 8-K, Entry into a Material Definitive Agreement, Other Events, Financial
Item 1.01. Entry into a Material Definitive Agreement. General; Structure of the Acquisition; Acquisition Consideration On September 8, 2009, North Shore Acquisition Corp. ("North Shore") entered into a Securities Purchase and Share Exchange Agreement ("Purchase Agreement") with Sungdong Industries Co. Ltd. ("SDI"), Hwi Young Jung ("Stockholder"), a principal stockholder of SDI, and Hong Jun Jung ("Pledgor") providing for the acquisition by North Shore of (i) shares of newly issued convertible voting preferred stock of SDI, representing up to 22.77%, but not less than 20.68%, of the voting capital stock of SDI, in exchange for the payment of the amount of cash remaining in North Shore's trust account at closing after deduction of amounts for payment of transaction expenses and payments to North Shore's public stockholders that exercise their conversion rights ("SDI Preferred Stock Purchase"), and (ii) 7,722 shares of currently issued and outstanding shares of common stock of SDI ("SDI Common Stock") from Stockholder, representing at least 29.82% of the voting capital stock of SDI, in exchange for an aggregate of 7,341,102 newly issued shares of common stock ("North Shore Common Stock") of North Shore ("Share Exchange"). The number of shares of SDI convertible voting preferred stock to be issued pursuant to the Purchase Agreement shall equal the quotient obtained by dividing (x) the amount of total cash remaining in North Shore's trust account at closing after deduction of amounts for (i) payment of North Shore's transaction expenses and (ii) payments to North Shore's public stockholders that exercise their conversion rights ("Cash Consideration"), by (y) $7,292 ("SDI Preferred Shares"). Following the closing of the Preferred Stock Purchase and Share Exchange, North Shore shall own up to 52.59%, but not less than a majority, of the voting capital stock of SD...Click here to read the whole Article (external link)
NORTH SHORE ACQUISITION CORP. Financials
PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue - - - - Cost of Revenue - - - - Gross Profit - - - - Operating ExpensesResearch Development - - - - Selling General and Administrative199 92 202 57 Non Recurring - - - - Others - - - - Total Operating Expenses - - - - Operating Income or Loss(199)(92)(202)(57)Income from Continuing OperationsTotal Other Income/Expenses Net76 26 35 199 Earnings Before Interest And Taxes(123)(67)(166)142 Interest Expense - - - - Income Before Tax(123)(67)(166)142 Income Tax Expense27 13 (18)85 Minority Interest - - - - Net Income From Continuing Ops(149)(80)(149)57 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Changes - &n...Click here to read the whole Article (external link)
NORTH SHORE ACQUISITION CORP. Files SEC form 8-K, Entry into a Material Definitive Agreement, Change in Directors or
Item 1.01. Entry into a Material Definitive Agreement. On August 17, 2009, North Shore Acquisition Corp. (the "Company") entered into an agreement (the "Agreement") with the Company's stockholders prior to its initial public offering (the "Initial Stockholders") and Sang-Chul Kim (the "Investor"). Pursuant to the Agreement, (i) each of Marc H. Klee, Barry J. Gordon, Alan J. Loewenstein and Robert Sroka resigned from his position as an officer and/or director of the Company (except for Mr. Klee who will remain solely as a director of the Company), (ii) Sang-Chul Kim was appointed as Chairman of the Board, (iii) Byong-Yub Ahn was appointed as Chief Executive Officer, President and Director, and (iv) Yo-Shin Song was appointed Chief Financial Officer and Director. Sang-Chul Kim, 56 years old, has been our chairman of the board of directors since August 2009. Since March 2009, Mr. Kim has also served as chairman and chief executive officer of Tremisis Energy Acquisition Corp. II, an American Stock Exchange-listed blank check company formed to acquire an operating business by December 2009. Mr. Kim has served as chief executive officer of Capital Express Co., Ltd., a private investment, financial advisory and consulting firm, since May 2009. Mr. Kim has also served since May 2008 as the chief executive officer of Dawin Technology, Inc., an ASIC/SoC design and services company that has a strategic partnership with Samsung Electronics Co., Ltd. Mr. Kim has also served as the chairman of the boards of directors of both SF Investment Co., Ltd., an investment company, and SoftForum Co., Ltd., a web and desktop security software company and systems producer, since June 2005. From June 2004 to May 2005, he was the chairman of the boards of directors of WIZIT Co., Ltd., a metering hardware, semiconductor and LCD components manufacturer, and DureCom Co., Ltd., a plastic molding/injection manufacturer, the latter of which merged with SoftForum Co., Ltd. in 200...Click here to read the whole Article (external link)
NORTH SHORE ACQUISITION CORP. Files SEC form 8-K, Change in Directors or Principal Officers
Show all filings for NORTH SHORE ACQUISITION CORP. | Request a Trial to NEW EDGAR Online Pro Form 8-K for NORTH SHORE ACQUISITION CORP. 30-Jul-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for infor...Click here to read the whole Article (external link)
NORTH SHORE ACQUISITION CORP. Files SEC form 10-Q, Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION The following discussion should be read in conjunction with the Company's Consolidated Financial Statements and footnotes thereto contained in this report. Forward Looking Statements The statements discussed in this Report include forward looking statements that involve risks and uncertainties detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. Overview We were formed on June 26, 2007 as a vehicle to effect a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. We intend to utilize cash derived from the proceeds of our recently completed public offering, our capital stock, debt or a combination of cash, capital stock and debt, in effecting a business combination. Results of Operations For the three months ended March 31, 2009, we had a net loss of $80,051 derived from interest income of $25,521 offset by $105,572 for expenses and taxes. For the three months ended March 31, 2008, we had a net income of $118,523 derived from interest income of $322,088 offset by $91,290 for formation and operating expenses and $112,275 for taxes. Financial Condition and Liquidity We consummated our initial public offering on December 7, 2007. Gross proceeds from our initial public offering (including from our private placement of warrants and exercise of the underwriters' over-allotment option) were $50,824,000. We paid a total of $2,525,614 in underwriting discounts and commissions (after deferring $1,512,000) and for costs and expenses related to the offering. After deducting the underwriting discounts and commissions and the offering expenses, the total net proceeds to us from the offering (including the over-allotment option and the private sale) were $49,883,546, of which $49,693,160 was deposited into the trust account and the remaining proceeds of $...Click here to read the whole Article (external link)
NORTH SHORE ACQUISITION CORP. Files SEC form 8-K, Entry into a Material Definitive Agreement, Change in Directors or
Show all filings for NORTH SHORE ACQUISITION CORP. | Request a Trial to NEW EDGAR Online Pro Form 8-K for NORTH SHORE ACQUISITION CORP. 23-Mar-2009Entry into a Material Definitive Agreement, Change in Directors or Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All in...Click here to read the whole Article (external link)
NORTH SHORE ACQUISITION CORP. Files SEC form 10-K, Annual Report
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The following discussion should be read in conjunction with the Company's Consolidated Financial Statements and footnotes thereto contained in this report. Forward Looking Statements The statements discussed in this Report include forward looking statements that involve risks and uncertainties detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. Plan of Operations We are a blank check company organized under the laws of the State of Delaware on June 26, 2007. We were formed to with the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. Our efforts in identifying a prospective target business will not be limited to a particular industry. For the fiscal year ended December 31, 2008, we had net income of $94,088 derived from interest income of $768,505, offset by $383,146 of general, selling and administrative expenses and $291,271 of provisions for income tax. Included in the expenses were professional fees, due diligence expenditures related to investigating potential business combination partners and a monthly fee for general and administrative services provided to us. For the period from June 26, 2007 (inception) to December 31, 2007, we had net income of $24,866 derived from interest income of $128,895, offset by $67,029 for travel and other expenses. We consummated our initial public offering of 6,300,000 units on December 7, 2007. Simultaneously, our founders purchased 1,600,000 insider warrants for $1.00 per warrant. On January 24, 2008, we consummated the sale of an additional 53,000 units that were subject to our underwriter's over-allotment option. Gross proceeds from our IPO (including from our private placement of the insider warrants) were $52,424,000. We paid a total of $2,540,454 in underwri...Click here to read the whole Article (external link)
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