COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Ohana Enterprises Pursues Acquisition Strategy
MALIBU, Calif., Oct 6, 2004 (BUSINESS WIRE) -- Ohana Enterprises, Inc. ("Ohana") (OTCBB:OHNA) today announced that it has entered into a non-binding Memorandum of Understanding ("MOU") to acquire 100% of the assets of an established 31-year-old California business valued at approximately $10 million. The business, whose name is being withheld for reasons of confidentiality, is a leader in a niche market. It currently generates approximately $1.5 million in annual revenues, with a gross margin of approximately 43.2% and EBITDA of approximately $50,000 (all numbers unaudited).
Commencing immediately following the filing of its annual report on Form 10-KSB, Ohana will begin to conduct due diligence on this prospective acquisition to determine the viability and value of the aforementioned property and assets. Management believes it will take approximately 4 to 5 months to complete the due diligence process of this specific acquisition candidate, which would include inventory testing, building inspections, and a complete 3-year trailing audit of the selling company's financial statements. Management has already made several visits to the location of the selling business for initial qualification, quantification, and inspection of property, inventory, and assets to determine if it is necessary to proceed to the next phase of conducting intensive due diligence. Upon satisfactory completion of this due diligence, Ohana would secure and execute definitive purchase agreements to complete the acquisition of the business and assets described in the MOU. Due to the sensitive nature of the Seller's business and relationships with its distributors, the Seller has requested for the protection of the Seller and Buyer that the name of the Seller be withheld until time of closing.
"We are pleased to have the assistance from our new partners in New York for the added capital in order for the Company to move forward with its strategy of seeking this acquisition candidate to facilitate the Company's growth plans," stated Company CFO Catherine Thompson. "With this acquisition, Ohana and GarcyCo Capital Corp. will work together in attempting to achieve a listing on a national exchange. We believe the Company will then have the necessary requirements to satisfy such a goal and that such a milestone achievement will be of benefit to its current and future shareholders."
The terms of the agreement are to acquire one operating division for $6 million at a purchase price consistent with the Stock Purchase agreement dated September 14, 2004, by and between the Company and GarcyCo Capital Corp, and to acquire the second operational division within three years at a set purchase price of $4 million under the terms of the same conversion price. The first acquisition consists of approximately $6 million in assets, including, but not limited to, land, buildings, inventory, production equipment, contracts, distribution relationships, etc. The second consists of $4 million in like assets to complement the first. Collectively the two divisions are producing and selling at approximately 25% of current capacity. The Company's initial plan is to increase sales by refining and perfecting the product; and defining and implementing a marketing plan that will complement the improved product and piggy back on the existing loyal distribution channels and customers. The Company will seek to push production and sales to 100% capacity, thus driving its revenue base. Subsequently, Ohana will seek to continue its growth plan through the addition of complementary acquisitions at a later date.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of Ohana to complete the proposed acquisition(s); the results of Ohana's due diligence review of the candidate(s); the success of the business of the acquisition candidate(s), including the ability of Ohana to continue to sell the applicable products and the acceptance of those newly designed products by the market; market conditions; the general acceptance of the Company's products and technologies; competitive factors; timing; and other risks described in the Company's SEC reports and filings. The closing of the transaction will be subject to complete due diligence, inventory tests, inspections, and a completion of audited financial statements in accordance to GAAP as required by the SEC prior to consummation.
Copyright (C) 2004 Business Wire. All rights reserved.
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KEYWORD: CALIFORNIA INDUSTRY KEYWORD: MERGERS/ACQ Copyright Business Wire 2004
Bigrod40
posted
The best news that a Pinksheet has put out in ages....
Ktrain420
posted
Composite Indicator Trend Spotter TM Sell
Short Term Indicators 7 Day Average Directional Indicator Sell 10 - 8 Day Moving Average Hilo Channel Hold 20 Day Moving Average vs Price Sell 20 - 50 Day MACD Oscillator Sell 20 Day Bollinger Bands Hold
Short Term Indicators Average: 60% - Sell 20-Day Average Volume - 6320065
Medium Term Indicators 40 Day Commodity Channel Index Hold 50 Day Moving Average vs Price Sell 20 - 100 Day MACD Oscillator Sell 50 Day Parabolic Time/Price Sell
Medium Term Indicators Average: 75% - Sell 50-Day Average Volume - 4099994
Long Term Indicators 60 Day Commodity Channel Index Sell 100 Day Moving Average vs Price Sell 50 - 100 Day MACD Oscillator Sell
Long Term Indicators Average: 100% - Sell 100-Day Average Volume - 2894502
Overall Average: 80% - Sell
Price Support Pivot Point Resistance
0.0025 0.0023 0.0026 0.0029
anyone have any opinions on this one??
Bigrod40
posted
Ohna will be pulling off one of its famous 100% runs tomorrow. Does this about once a month. Only this time it will be doing it with news.
tigertony
posted
Ktrain420,The charts are not always right, they just add to the complete picture.Charts don't account for news at all.Good Luck
quote:Originally posted by Ktrain420: Composite Indicator Trend Spotter TM Sell
Short Term Indicators 7 Day Average Directional Indicator Sell 10 - 8 Day Moving Average Hilo Channel Hold 20 Day Moving Average vs Price Sell 20 - 50 Day MACD Oscillator Sell 20 Day Bollinger Bands Hold
Short Term Indicators Average: 60% - Sell 20-Day Average Volume - 6320065
Medium Term Indicators 40 Day Commodity Channel Index Hold 50 Day Moving Average vs Price Sell 20 - 100 Day MACD Oscillator Sell 50 Day Parabolic Time/Price Sell
Medium Term Indicators Average: 75% - Sell 50-Day Average Volume - 4099994
Long Term Indicators 60 Day Commodity Channel Index Sell 100 Day Moving Average vs Price Sell 50 - 100 Day MACD Oscillator Sell
Long Term Indicators Average: 100% - Sell 100-Day Average Volume - 2894502
Overall Average: 80% - Sell
Price Support Pivot Point Resistance
0.0025 0.0023 0.0026 0.0029
anyone have any opinions on this one??
Ktrain420
posted
i rarley use charts and mostly play off news and momentum.....just wonderin what you guys thought of them.....anyone have a good idea about a good entry??
thanks in advance
Kt
posted
all the indicators point downward, the stock is at 2.5/10 of a cent, but the news is really good. anyone here care to speculate?
kt
tigertony
posted
I am gonna try to get in at or before O.OO28.If it opens to high i'll pass.I hate trying to catch the run always get burned.Good Luck The best advice would be don't listen to me.
Kt
posted
daddy needs a new pair of shoes?
Captain_Nemo
posted
it's moving already. MM ut bid early
ZACH115
posted
Nice go OHNA !!!
Captain_Nemo
posted
OHNA hold gains well here. MM needs shares!!
ZACH115
posted
I needed to add some too now lets go !!!
Captain_Nemo
posted
OHNA should be gapper today and tomorrow.
Captain_Nemo
posted
GOING NUTS now
ZACH115
posted
Yea Baby Goooo !!!
Captain_Nemo
posted
Fasten your seat belt! OHNA take us to da moon.
tigertony
posted
I bailed out made a few bucks try to get back in if it turns.Good Luck
Bigrod40
posted
This baby is on its way back to pennyland, it was at .025 back in June with no news. To much great news in its last three PRs not to believe that its heading back there fast. JMO
posted
.0025, time to get back in to this one. Might have to wait a bit, but it will be worth it.
Bigrod40
posted
Will
Got lucky picked up a 100,000 at .0023. Happy, Happy. Easy double or triple the way this flys off and on.
will
posted
Good luck, Rod. I'm with ya. Don't know when it will run, but if it follows it pattern shouldn't be too long.
quote:Originally posted by Bigrod40: Will Got lucky picked up a 100,000 at .0023. Happy, Happy. Easy double or triple the way this flys off and on.
tigerontop
posted
I hop this puppy runs soon. I am sitting on 300,000 free shares from the last run to .016
I expect it to atleast get back to that level shortly. That alone is a 250%. I very well might add another 300K and ride it again and hold for that .25 that it had last june.
"Life is not about arriving at the grave sight with you body in great shape and peaceful, but to slide in sideways half worn our going, holy **** what a ride!!!!!"
Bigrod40
posted
Up 8%, I have a feeling this is just the start of a slow but steady climb up. The big runs of 100% a day increases are gone. This is going to prove to be a gem of sa stock.
will
posted
Still not too late, hanging at .0023 -.0026 ! Still a good deal at .0029. Jump in now!
[This message has been edited by will (edited October 13, 2004).]
Bigrod40
posted
Will, I think were the only ones watching this....LOL Up 21% and climbing.....Im happy....hehe
will
posted
Not able to break that .0029 yet. Give it time. Anyone have L2 on this?
Bigrod40
posted
WTF....Did I miss something here or what, dropped all of a sudden 23%