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LeaseSmart Inc. (OTC:LSMJ) Sector: Capital Goods Industry: Construction Services Website: http://www.xxsys.com LeaseSmart Inc., formerly Xxsys Technologies, Inc., was organized to develop non-destructive testing and measurement techniques for advance materials in the defense industry. The Company's current commercial application, the Robo-Wrapper machine and application process, is a proprietary technology that produces carbon-based composite jackets designed to upgrade structurally deficient or corroded structures that support highway bridges and buildings that could collapse during seismic activity or from corrosive decay. The Company's primary business focus is to use its proprietary retrofit and rehabilitation processes to upgrade aging bridges, buildings and other structures by wrapping the structural elements with composite materials.
BRIEF: LeaseSmart Inc.'s primary business focus is to use its proprietary retrofit and rehabilitation processes to upgrade aging bridges, buildings and other structures by wrapping the structural elements with composite materials. For the 3 months ended 12/31/98, revenues fell 91% to $27K. Net loss totalled $650K, up from $308K. Revenues reflect project delays and a reduction in government grants. Loss also suffered from the absence of a $375K consulting fee.
LeaseSmart Inc. 4619 Viewridge Avenue San Diego, CA 92123 United States
Phone: 1-619-9748200 Fax: 1-619-9748208 Contact Title: Director of Investor Relations E-mail: ir*xxsys.com
I e-mailed the contact person from one of their PR's several weeks ago for information and this is the response I received:
Hello ******,
The company that we are with is called LEASE MART CAPITAL CORP. We are a Canadian company who does not nor never has sold any shares publicly. Unfortunately a company calling itself LEASE SMART has usurped all of our company information and shown it as their own in order to sell shares of their company. We have no idea who they are. We have met with the U.S. Securities commission and they are now aware of the fraud and are trying to locate the perpetrators. I'm sorry but that is all the information I have. Good Luck!
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Lease Smart, Inc. (OTC: LSMJ) is pleased to announce that it is furthering its expansion plan by offering mining and oil equipment leasing through a separate subsidiary. The company's proposed mining and oil equipment division will provide complete financing and leasing services for equipment only and may later include equipment rental.
The company believes that commodity prices will continue to stay strong with high demand from emerging markets, creating an excellent equipment marketplace. The mining & oil drilling equipment sectors should continue to benefit greatly from the growing needs for commodities in areas such as China, India, Russia and elsewhere. Strong resurgence in part sales and maintenance appears to be already occurring, indicating the industry is moving into the next cyclical stage of replacing equipment, prior to mine expansion.
About Lease Smart, Inc.
Lease Smart Capital is a 25-year-old full service Commercial Loan Company. Established in 1979, Lease Smart offers a complete range of financing to small businesses. Lease Smart services include leasing, invoice factoring, loans, commercial mortgages, and credit services.
Lease Smart is not only a direct funder, but also have agreements in place with several leading finance providers in North America. Lease Smart's objective is to assist our clients in obtaining their financing requirements, and to aid their growth to success, every step of the way.
Safe Harbor Statement
The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in the company's reports filed with the SEC. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, continued acceptance of the company's products and services, competition, new products and technological changes, as well as any and all "other risks" associated with business.
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