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RG America's Construction Division in Florida Storm Work Net Revenues Look To Surpass $2.4 Million
Wednesday, February 09, 2005 08:00 ET
DALLAS, Feb 9, 2005 (BUSINESS WIRE) --RG America (OTCBB:RGMI) issues an update to earlier announcements regarding its division, RG Restoration, Inc., that is working with and through local Florida contractors in areas devastated by hurricanes this past Fall. The value of all the division's work from these storms now has the potential to exceed $10 million in gross revenues for restoration consulting, construction management and storm clean up. The work should be completed by mid-year. The Company anticipates net revenues on these contracts will surpass $2.4 million. In addition, further contracts are pending.
RG Restoration, Inc. ("The Restoration Group") provides a wide range of services to victims of all types of disasters. "The scope of the destruction caused by hurricanes this past Fall is huge," said James Rea, President of RG Restoration. The Restoration Group has been involved in all phases of what needed to be done: 1) stabilization- securing the property after damage; 2) remediation / mitigation- cleaning up, drying and assessment to control further damage and 3) restoration- rebuilding, restoring and expediting return to use. Working with owners, managers and insurance company representatives The Restoration Group is building a reputation for finding solutions and getting them implemented in a timely effective manner.
RG America is a family of companies offering construction/restoration and financial services and products primarily to the multi-family housing industry. RG Restoration, Inc. ("The Restoration Group") specializes in reconstructing multi-family and commercial properties damaged by fire, flood, hail or wind. Because of its broad construction expertise it also performs new commercial construction. RG Insurance Services, Inc. is a full lines insurance agency. It is the general agency for a proprietary property and casualty insurance product called PropertySMART(SM) that delivers improved service and true cost savings to the multi-family housing industry. RG America also sells several financial services to the multi-family housing market including the innovative Rent Shield(TM) program.
This release shall not constitute an offer to sell or the solicitation of an offer to buy securities to/from any person, nor shall there be any sale of these securities in any jurisdiction in which it is unlawful to make such an offer or solicitation.
A number of statements in this press release are forward-looking statements, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of products and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors described in the Company's filings with the SEC. The actual results that the Company may achieve may differ materially from any forward-looking statements due to such risks and uncertainties.
SOURCE: RG America, Inc.
RG America, Inc. Rick Nelson, 972-919-4774 ext. 235
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They just had a RSplit 1-6 to reduce OS to 19M. MM are taking place now...no trade yet.
Recent news:
RGMI: Proposes Two Private Placement Totalling $6M
Monday , February 07, 2005 08:14 ET
RG America (RGMI) announced that it has engaged Spencer Clarke LLC as an advisor in connection with two proposed private offerings of RGA securities. The first offering is for up to $1,000,000 of senior subordinated convertible debentures and the second is for up to $5,000,000 of equity. RGMI will use the proceeds of the debenture transaction to retire selected debt, finance the growth of several restoration projects in areas severely damaged by recent hurricanes and for other strategic corporate initiatives.
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