posted
Only "profitable" because they traded shares to a creditor in exchange for debt relief:
In February 2007 the Company reached and agreement with a creditor to exchange stock in full satisfaction of the obligation plus the accrued interest. As a result of the transaction the following was recorded on the books of the Company:
Note payable obligation satisfied $ 243,838
Accrued interest satisfied 123,852 ---------------- Total debt satisfied 367,690
Stock issued in exchange at market value (74,680) ---------------- Gain recorded on books in satisfaction of debt $ 293,010 ----------------
Also, they note:
Also, as of March 31, 2007, the Company only had no cash and current liabilities exceeded current assets by $2,081,937.
And have been issuing shares as salary and a will conmtinue to dilute shares for income, given the fact that they have no cash.
I'd steer clear of this one.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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I just checked into the "profitable" portion, saw that was misleading, and posted as such. That's all I can contribute at this point. Give me a few days to read a couple of bokos. Then I'll be all ready to do some charting
quote:Originally posted by T e x: carry on, fellas...
numbers ain't too bad, good dialog...
charts?
background on principals?
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Leisure Direct Announces Opening of Dealer Location in Cincinnati Tuesday April 24, 9:00 am ET
PERRYSBURG, OH--(MARKET WIRE)--Apr 24, 2007 -- Leisure Direct, Inc. (OTC BB:LDTI.OB - News) announced today that it will open a retail store in a prime location in Cincinnati, Ohio. The location will sell spas manufactured by Royal Spa Manufacturing along with a variety of other leisure products. John Ayling, Chairman of Leisure Direct, stated, "We will be located in a prime location to capture market share and serve our customers in the Cincinnati area. Revenue from the operation will begin to be booked this quarter. This is only the first of many company-owned dealer and service locations as Leisure Direct begins to execute its business plan. Our initial thrust will be locations in the Midwest region of the country." ADVERTISEMENT
Leisure Direct has hired an industry veteran from the Cincinnati area to lead sales and installation services from the location. The location will operate under a company brand name that signifies Leisure Direct's intent to sell and install products that are both complementary to spas/hot tubs and part of the "backyard" leisure industry.
Robert Dapper, President of Leisure Direct and founder of Royal Spas, stated, "We will quickly establish the location as a premier dealer and will leverage Royal Spas' proven sales and marketing approach to drive first year sales at the Cincinnati location to between $1 million and $1.5 million, with EBITDA in the $120,000 to $150,000 range. Within two or three years, we fully expect to book more than $2 million of revenue annually."
Leisure Direct's business plan includes acquiring or opening 50 to 60 locations over the next three to five years, with 10 to 15 of them being consummated in 2007. Leisure Direct will begin to announce dealer acquisitions over the next few days and weeks. Once its initial dealer network is established, the company intends to acquire manufacturers of spas/hot tubs.
About Leisure Direct, Inc.
It is the mission of LDTI to become the premier, highest quality and most nationally recognized manufacturer and direct marketer of pool, spa/hot tub, and patio products in the United States. LDTI will implement its strategy by acquiring existing manufacturers of backyard entertainment products and building a direct marketing distribution network.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
Contact: Contact: John R. Ayling Chairman Leisure Direct, Inc. (419) 873-1111 1070 Commerce Drive, Building II - Suite 303 Perrysburg, OH 43551 http://www.leisuredirectinc.comPosts: 443 | From: st.louis | Registered: Dec 2003
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