Four Crystal transfers $4 billion of Mexican sovereign bonds to ProTech

By Angela McDaniels

Tacoma, Wash., June 12 - ProTech Communications, Inc. said Four Crystal Funding, Inc. has purchased 85% of its common shares by transferring Mexican sovereign bonds with an estimated total face value of $4 billion to ProTech.

ProTech said it determined a book value of about $15 per share by dividing the total outstanding common shares of 269,197,861 into the current bond value of about $4 billion. However, because the bonds were originally issued in 1930, the company said it is very difficult to monetize the actual value of the bonds. Consequently, they could be significantly discounted when, and if, they are liquidated.

ProTech is an investment fund based in New York. Simultaneous with this agreement, it changed its name to Four Crystal Funding, Inc. and has applied for a new ticker symbol.

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