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Universal Express Announces Definitive Agreement To Purchase $200,000,000 Annual Revenue New Jersey Oil And Gas Distributor Monday October 9, 10:33 am ET
NEW YORK--(BUSINESS WIRE)--Universal Express Inc. (OTCBB: USXP - News), today announced the signing of a formal contract to purchase the assets of a New Jersey-based gasoline and oil operator. This wholesaler owns and operates in excess of 38 retail gasoline and diesel oil stations. ADVERTISEMENT
"In addition to the obvious positive impact on our balance sheet," said Richard A. Altomare, President and CEO of Universal Express, "this acquisition keys nicely with our transportation logistics model. Virtually every facet of our businesses relies on the price, availability and delivery of fuel, whether it is our luggage division, our trucking component, our aviation company, or our courier network. It is my hope that we can affect a reconfigured and even better business model and possible re-branding for these stations in the years to come."
"The 42 Million Dollar agreement calls for the retention of current management and payment over a 14 month period," continued Mr. Altomare.
"In addition to the symbiosis that this company has with our core businesses and additional retail distribution, our growing nationwide presence is both complimented and augmented through this initial oil and gas acquisition. The estimated 5% earnings of this company, we believe, through our management and economy of scale can be increased. Our corporate awareness is as real and as valuable to us as our many strategic partners, our loyal employees, and our steadfast vision of a changing transportation logistical industry. That awareness will also be enhanced by these 38 visible and retail locations which may in the future become multi-utilized," continued Mr. Altomare.
"The certified financial accounting firm has been ordered and future name changes are planned by Universal Express," added General Counsel, Chris Gunderson.
"Certainly, all of the obvious benefits of increased cash flow, extra revenues, enhanced balance sheet, inter-company synergies and continued corporate growth can be addressed; however, I contend that the addition of the first oil and gas company matures this conglomerate in many other ways".
"Increased corporate capitalization and possible restructuring is definitely under consideration, as we entertain all of our future options," concluded Mr. Altomare.
About Universal Express
Universal Express, Inc. is a 22-year-old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contact: Universal Express, Inc. Mark Falk, 561-367-6177 publicrelations*usxp.com
-------------------------------------------------------------------------------- Source: Universal Express, Inc.
-------------------- I may be wrong, but I don't think so.... Posts: 837 | From: Madison, WI | Registered: Sep 2005
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Not Bashing but I just find it hard to believe anything from USXP anymore.
Posts: 1128 | From: Houston, TX | Registered: Feb 2006
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Why's that megahead? They've been so honest and forthcoming in the past Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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It seems to already seen the HOD and is on the way down again. Typical of USXP.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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RA might next buy into a prison management company as a hedge.....LOL
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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Any other penny would have a 2 bagger on news like this. But RA is seeing what all his past BS PR's and dilution has accomplished.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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Let me guess. The PPS will end up lower than last close......seems to be a familiar result of RA's latest PR's.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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If news like this came from any other company, we would see a 2-4 bagger easily. USXP is known to be nothing but a joke to the world. Only reason it went up 30% was MMs playing around. IMHO of course.
Posts: 1128 | From: Houston, TX | Registered: Feb 2006
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no chit MM's dont like usxp either ,not even for a 30% jajaja ok stay where you are ,we will see
Posts: 4112 | Registered: Jun 2006
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maybe tomm volume will drop to the 30,000,000 again who know , you might be right in the manipulation
Posts: 4112 | Registered: Jun 2006
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quote:Originally posted by BlindMellonChitlin: Any other penny would have a 2 bagger on news like this. But RA is seeing what all his past BS PR's and dilution has accomplished.
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Blindmellonchitlin seem to me like you dont have a life or you are so pissoff for your expirence(OF LOSE MONEY) on IPRE with that RS, that probably kill you LMAO every time than some one open a new thread(USXP) you start bashing i dont know why ,tell me?
did YA lose a lot of money on IPRE or USXP ?
seriously i dont see what is your intention here explain.
quote:Originally posted by BlindMellonChitlin: Let me guess. The PPS will end up lower than last close......seems to be a familiar result of RA's latest PR's.
wrong we end up green.........
I remember how you were pumping IPRE when it was going down LMAO
quote:Originally posted by megahead34: If news like this came from any other company, we would see a 2-4 bagger easily. USXP is known to be nothing but a joke to the world. Only reason it went up 30% was MMs playing around. IMHO of course.
a joke LMAO that is a joke
Posts: 4112 | Registered: Jun 2006
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i hate when some one bash with out nothing to back up against the stock, i know than USXP have a bad "REPUTATION" , but hey if i can flip this for a 100% i will, i did it before and i will do it again F***k the 8b OS , i MIGHT BECOME LONG HERE "MAYBE", after this PR Posts: 4112 | Registered: Jun 2006
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