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December 28th, 2005, 09:10 AM #1
Some people do make $
- Join Date
- January 18th, 2005
- West Coast USA
I know that there are several Cognigen agents here at ABW
Kevin E. Anderson is Cantara
MOUNTLAKE TERRACE, Wash., Dec 27, 2005 /PRNewswire-FirstCall via COMTEX/ -- Cognigen Networks, Inc. [CGNW] , the Seattle area based Internet-enabled marketer of communications services and certificated reseller, announced that the Company entered into an agreement to purchase the Cantara agency from the Anderson Family Trust. Cantara is one of Cognigen's largest agent networks and one of its highest revenue producing sales organizations. The transaction provides for Cognigen to pay the seller a total of $1,500,000 in five annual installments beginning March 15, 2006. As payments are made, Cognigen will receive a corresponding portion of the commission income payable to Cantara relative to the percentage of equity it acquires in the agency. Upon payment of the full purchase amount, which may be paid off sooner than scheduled, Cognigen will receive all the amounts that the seller currently receives as a result of owning the agency. The Cantara agency was acquired by the Anderson Family Trust in November of 2001, in exchange for approximately 2.7 million of Cognigen common shares in a stock redemption transaction. Complete details of the agreement can be viewed at Edgar Online or other similar services in the report on Form 8-K that was filed with the SEC.
Gary Cook, Cognigen's acting CEO commented on the transaction, "This acquisition is an essential element of our strategic planning. Cantara is one of our top producing agent downlines. Over the past four years the agency averaged over $500,000 in annual commissions. We have also agreed to retain Kevin E. Anderson Consulting to continue management services for the Cantara agency."
December 28th, 2005, 11:29 AM #2
I remember seeing a thread about them a few months back. People were recommending them ...I think.
Money is being made thats for sure, especially in tech communications networking arena...The company my bro has a nice share/ownership of is about to sell to a Very Big networking silicon valley Corp for a HUGE amount of money i.e more than tens of millions (theres a bidding war going on).
I'm so happy for my Bro he deserves it...its a little like winning the lottery except you've worked your whole life to earn it. A bit off topic but had to share .
Yes there's money being made.Suz~~GearGirl~~
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