VR Systems has entered into negotiations to acquire CyberQuest Partners, a privately-held development stage company.
CyberQuest Partners has developed proprietary imaging systems and integrated chip technology that combines to form a system and method for delivering virtual reality. It is currently negotiating with private investors to obtain the working capital necessary to pursue its business plan.
VR Systems (OTC PK: VRSY) has not had an active market in approximately two years. The company has completed a four to one reverse split of its common stock, and received a new CUSIP number reflecting that event. The Nasdaq is in the process of effecting the reverse split which will adjust the stock’s trading price. As result of this process, the company says it may, or may not, be issued a new symbol.