New company after a consolidation and name change. Under the radar. Here's a pr about their 1st acquisition.
Enerlabs Announces First Laboratory Acquisition
OKLAHOMA CITY, OKLAHOMA, 6 February, 2012, (BUSINESS WIRE) ENERLABS, INC. (OTCQB: EGSRD.PK) has purchased its first strategic laboratory within the new organization as of close of business Friday, February 03, 2012. ZALCO LABORATORIES, INC., which is located in a key area of Bakersfield, California is a full service analytical laboratory, serving the industries of petrochemical, petroleum products, refinery, manufacturing, wine manufacturing and solution based special projects. ZALCO’S client list includes; BP, Chevron, Edwards AFB, surrounding municipalities, oil & gas producers and several refineries.
ZALCO has a staff of 25 employees and has been in business for over 30 years. Strong management is in place and will be focused on positioning ZALCO as a leader in the markets it serves.
ZALCO has just opened a satellite location in Ventura, California as of the first of November, 2011, primarily targeting the petroleum refinery business in the Ventura market. Staff is in place and ready to serve this client base and securing its share of the market through world class customer focus and expedited services.
ZALCO will finish the year with sales estimated in the $2.5 to 3 million range, proving the company’s market potential.
The purchase is made with a one year note bearing 4% interest and the note can be converted to common stock at a value of $1.00 per share. This allows the selling lab owners to participate in the growth of Enerlabs, Inc. and gives them liquidity while they retain their employment, if they so choose.