Last week's announcement signalled a refundable deposit had been lodged with Horwarth accountants.
Having supplied Froggy with wholesale broadband services over an extended period, FlowCom was forced to sever the company's service in December 2001 as the ISP's cash cow Karl Suleman Enterprises was placed into administration.
While details are expected to be finalised this week, FlowCom is already guaranteeing Froggy customers will continue to enjoy seamless service over the period.
FlowCom shareholders will also no doubt be hoping the new deal will break the fall of company stocks, which have plummeted from .28 cents in May last year to as low as .07 cents.
FlowCom initially listed in August 2000, with the company forced to close the offer early due to the high level of public interest.
