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Form 8-K for CONSOLIDATED MEDICAL MANAGEMENT INC
26-Oct-2007
Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
On October 19, 2007, the Company agreed to purchase the stock of US Fuel International Inc. and Troutman Oil Company Inc. for $5 million in cash, $900,000 in debt, and 666,680 shares of CMMI preferred stock. US Fuel and Troutman Oil are closely-held corporations located in Austin, Arkansas. The Purchase Agreement also provides for CMMI to purchase certain assets held individually by the shareholders of US Fuel and Troutman Oil. The purchase of these assets is included in the purchase price. The purchase price is subject to adjustment based upon the results of an audit of the companies' assets and liabilities.
Troutman Oil distributes fuel to gas stations throughout Arkansas and owns and operates several US Fuel-branded stations.
US Fuel is a fuel marketing company that sells fuel under the "US Fuel" trademark. US Fuel currently has a private label credit card program that allows customers to charge their fuel purchases to a US Fuel credit card.
The Purchase Agreement provides that CMMI will enter into employment agreements with the companies' current management.
Closing of the purchase is to occur on December 10, 2007. The closing date can be extended 90 days with an additional $50,000 payment. If closing does not occur, then the shareholders of US Fuel and Troutman Oil can keep the $10,000 deposit paid concurrent with the signing of the Purchase Agreement.
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CMMI $ Consolidated Medical Management Inc. Shares Short 5,300 Days to Cover (Short Ratio) 0.0 Short % of Float % Shares Short - Prior 100 Short % Increase / Decrease 5200.00 % Squeeze RankingTM % from 52-Wk HIGH ( 0.26 ) % % from 52-Wk LOW ( 0.01 ) % % from 200-Day MA ( 0.09 ) %
% from 50-Day MA ( 0.10 ) % Price % Change (52-Wk) 837.50 % Trading Volume - Today 484,510 Trading Volume - Average 269,700 Trading Volume Vs. Avg. 179.65 % Total Shares - Float Total Shares - Outstanding 49,544,226 % Held by Insiders % % Held by Institutions % Market Cap 7,679,355 EPS -0.03 PE Ratio Sector: Basic Materials Industry: Oil & Gas Equipment & Services SI Record Date 2007-OctB
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they should pr the 8k soon..imo I hope we dont gap but who knows...i like the nice and steady gains. Posts: 330 | From: oregon | Registered: Dec 2004
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Good time to get in tomorrow..imo.Should run real nicely the next coupla days...
Chart courtesy of Chevdawg18 on ihub... "Check out the TRIX (Bottom indicator on the bottom chart) and see look what happend the last time it crossed and it is fixing to cross yet again right here."
CMMI Announces Annual Meeting and Proxy Vote Wednesday November 14, 8:12 am ET
HOUSTON, Nov. 14 /PRNewswire-FirstCall/ -- Consolidated Medical Management, Inc. (OTC Bulletin Board: CMMI - News) will hold its Annual Meeting of Shareholders on Monday, December 17, 2007, beginning at 9:00 a.m. at Fairfield Inn & Suites, 1707 Roberta Avenue, Ruston, Louisiana 71270. The formal meeting notice and proxy statement have been filed with United States Securities and Exchange Commission.
ADVERTISEMENT click here At this Annual Meeting, shareholders will be asked to vote on and amend the Company's Articles of Incorporation to increase the number of shares it is authorized to issue, change the Company's name to more closely reflect its current business operations, elect directors, and redomicile the corporation in the State of Wyoming.
"We are pleased to advance the Company's business plan and position CMMI for future growth," commented Timothy G. Byrd, Sr., Consolidated Medical Management's chief executive officer. "The proxy's proposals will provide the board important tools to grow the company.
"Whether or not you plan to attend, it is vital to the company you participate. We respectfully request all shareholders of record on November 14th, 2007, to fill-out and return all proxy cards received. Some shareholders may also be able to vote by phone or online. If you have any questions during this process, please contact investor relations at (281) 209-9800 or shaag*smallcapss.com," Byrd concluded.
About Consolidated Medical Management, Inc.
Consolidated Medical Management, Inc. (CMMI) is a wholesale fuel distributor and fuel terminal operator based in Houston, Texas. CMMI not only offers storage, delivery, and blending of petroleum products such as gasoline and diesel fuel, but also offers biodiesel to the growing "green" fuels market. Biodiesel is a clean burning, nontoxic, sulfur-free, and biodegradable alternative fuel for compression-ignition (diesel) engines made from animal fat or vegetable oil.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Consolidated Medical Management, Inc., urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
CMMI Announces 18-million Share Warrant Reduction Tuesday November 13, 1:53 pm ET
HOUSTON, Nov. 13 /PRNewswire-FirstCall/ -- Consolidated Medical Management, Inc. (OTC Bulletin Board: CMMI - News) today announced that two of its directors relinquished warrants entitling them to purchase up to 18,000,000 shares.
ADVERTISEMENT Timothy G. Byrd, Sr., Consolidated Medical Management's chief executive officer and director, and G. C. "Sonny" Wooley, the Company's chairman, had each held common stock purchase warrants permitting them to purchase up to 12,000,000 shares each of CMMI common stock in lieu of compensation accrued during the Company's past non-operational period.
However, in a strong show of support for the Company's future, Mr. Byrd and Mr. Wooley each gave up 9,000,000 of the 12,000,000 shares they were authorized to purchase under the warrants. As a result, once the warrants are exercisable, the Company and its shareholders will realize an 18,000,000 share net reduction in the fully diluted share count.
"When we accepted the warrants earlier this year, we couldn't have predicted the Company's current rate of growth," commented Timothy G. Byrd, Sr., Consolidated Medical Management's chief executive officer. "Mr. Wooley and I believe the Company will benefit many times over from the warrant reduction, further accelerate our growth strategy, and send a clear message to our shareholders that we intend to grow both the Company and shareholder value."
About Consolidated Medical Management, Inc.
Consolidated Medical Management, Inc. (CMMI) is a wholesale fuel distributor and fuel terminal operator based in Houston, Texas. CMMI not only offers storage, delivery, and blending of petroleum products such as gasoline and diesel fuel, but also offers biodiesel to the growing "green" fuels market. Biodiesel is a clean burning, nontoxic, sulfur-free, and biodegradable alternative fuel for compression-ignition (diesel) engines made from animal fat or vegetable oil.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Consolidated Medical Management, Inc., urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
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