Post A Reply
my profile
login
|
register
|
search
|
faq
|
forum home
»
Allstocks.com's Bulletin Board
»
Micro Penny Stocks, Penny Stocks $0.10 & Under
»
PR for AFTERHOURS and MONDAY 1/08
» Post A Reply
Post A Reply
Login Name:
Password:
Message Icon:
Message:
HTML is not enabled.
UBB Code™ is enabled.
[QUOTE]Originally posted by J_U_ICE: [QB] CTXI (.0011) Acquires 40% of MicroCars, Ltd., a Sri Lankan Manufacturer of Automobiles Business Wire "US Press Releases " SAN DIEGO--(BUSINESS WIRE)-- MicroHoldings US, Inc. (Pink Sheets:CTXI) today announced that it has signed an agreement to acquire a 40% equity stake in MicroCars, Ltd. Micro Cars is an 11-year-old company that has successfully designed and operated an automobile manufacturing and assembly facility in Sri Lanka. The transaction requires MicroHoldings US (Holdings) to pay $300,000 in cash over the next six months to MicroCars. Shareholders of MicroCars will also receive warrants in Holdings, exercisable after two years. Established in 1995, MicroCars, Ltd. is the only automobile manufacturer in Sri Lanka, and offers a unique, cost effective system for assembling quality cars using local labor and available local materials. Created by Dr. Lawrence Perera, previously an engineer at BMW and Volkswagen, MicroCars features a line of vehicles that includes a sedan, a coupe, a minivan and a four wheel drive pickup truck. Stated Jeffrey Flannery, CEO of MicroHoldings US, Inc., "The decision by both Parties to take this step was the result of working together for over a year and seeing the benefit of establishing a closer working relationship. MicroCars has achieved a high level of success in Sri Lanka and has a lot of room to grow in the coming years. At the same time, its unique manufacturing and assembly operation is a model that we believe can be successfully replicated in other developing countries. We look forward to helping MicroCars expand and succeed in both Sri Lanka and around the world." Holdings previously acquired a subsidiary of MicroCars, MicroCars International, which gave Holdings the international licensing rights to foreign car and plant sales. This new agreement supersedes that previous agreement, formalizing those international rights and providing Holdings with the 40% equity position in MicroCars in exchange for the cash payments. Holdings management has indicated that the cash payments for this transaction will come from private investors. The Micro Cars facility is labor intensive unlike US and Western plants that rely on expensive automation and robots. The system was designed for countries such as Sri Lanka where low labor rates can be matched with a need for high quality, inexpensive vehicles. According to figures released by MicroCars, the plant is currently producing about 35 to 40 cars per months and has the capability to produce as many as 600 per month. The MicroCars sedan and coupe sell for about $5,000 each. The Minivans sell in Sri Lanka for about $10,000. The company also assembles a SUV under license to the Korean car maker Sanyan and sells that vehicle for about $40,000 per unit. More information on the MicroHoldings US, Inc. can be found at [URL=http://www.microholdings-us.com.]www.microholdings-us.com.[/URL] Information on MicroCars, Ltd. can be found at [URL=http://www.microcars.lk.]www.microcars.lk.[/URL] Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of CTXI are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future CTXI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and CTXI has no specific intention to update these statements. Source: Centrex, Inc. LLEG (.0027) Issues Update to Shareholders Business Wire "US Press Releases " NEW YORK--(BUSINESS WIRE)-- Laidlaw Energy Group, Inc. (OTC: LLEG) President & CEO, Michael B. Bartoszek, issued today the following update to the shareholders of Laidlaw Energy: Dear Shareholders: I firmly believe that success in business requires the three "Ps", persistence, patience and perspiration. These qualities are especially important when engaged in the development of major capital projects like power plants. The time frame from the start of development of a power plant until the commencement of commercial operations can be two or three years. During that time, it is not unlikely to encounter significant obstacles. Even companies like ours, that are engaged in the development of renewable energy projects face, face numerous hurdles. Since we commenced development of our New York biomass energy project in mid-2004, we have faced and overcome a number of challenges. -- Early in the project we had to compete against hundreds of other applicants in order to obtain grant financing to help fund the development of the project. We rose to the challenge and obtained $1 million dollars of grant funding from the New York State Energy Research and Development Authority. -- Next we had to find a way to keep the capital costs of the project down in order to make the project economically viable. We responded by incorporating refurbished equipment into the project at a fraction of the price of new equipment. We scoured the country and were able to locate just the right boiler and turbine, in excellent condition, and at highly favorable prices. -- The next challenge we had was to make sure we had sufficient funding to complete the project and, once again, we succeeded by not only obtaining the funding we needed, but also by forming a great strategic relationship with a major international power developer and the owner of the largest utility in the Dominican Republic. -- Recently, we were faced with the challenge of having to find a way to generate cash flow from the sale of the project's renewable attributes, also known as "RECs". RECs trade separately from a power plant's physical electric output, generating a separate source of revenue, and represent the premium that is paid to renewable generators by retail energy suppliers in order to demonstrate compliance with state-mandated renewable energy targets. Although New York has passed renewable energy legislation, it is in the early stages of implementing its renewable program and a market has not yet developed for RECs. Faced with this challenge, we were able to obtain approval from the state of Massachusetts for the sale of our RECs in that market, thus enabling us to generate cash flow from the sale of our RECs while the New York market is established. Massachusetts has some of the most stringent requirements for biomass generators in the country, as well as the most favorable market for RECs. -- Additionally, after a thorough review, we have also obtained the requisite modification of the New York facility's Title V air permit. This required the approval of both the US EPA and the State of New York, in order to allow for the construction and operation of the proposed biomass energy facility. These are just a few of the challenges we have faced and overcome as a result of our hard work, patience and unrelenting persistence. The only remaining hurdle we need to overcome in order to make the necessary upgrades to the facility and commence operations using biomass fuel, is to obtain local planning board approval. We are nearing the end of this process and expect a decision in the near future. Planning boards in New York, influenced by local politics and NIMBYism, have been known to try to delay decisions on matters such as ours for as long as possible. Whether it is another three weeks or three months, a decision is imminent and we are well within our rights to make the proposed upgrades at our existing, permitted facility. Just as we have consistently done in the past, we will persist until we overcome this obstacle as well. In the meantime, we continue to pursue additional grant funding and structure transactions that we expect will improve the overall enterprise value of the project, as well as the potential future cash flows. We also continue to diligently pursue the other development opportunities that we have in the pipeline and hope to provide an update on these in the near future. Sincerely, Michael B. Bartoszek President & CEO About Laidlaw Energy Group - Cleaner Energy for a greener future Laidlaw Energy Group (LLEG) is engaged in the development of independent power plants that generate electricity from renewable resources. LLEG's mission is to build and manage a profitable portfolio of renewable energy facilities through development, acquisition, conversion of existing facilities and through partnering with manufactures that have significant electric and thermal needs. LLEG is headquartered in New York, New York. For more information on LLEG, please visit our website at NYENRG.com. This communication contains statements expressing expectations of future events and/or results which may include, without limitation, statements concerning anticipated financial performance, business prospects, technological developments, potential markets, new products, research and development activities and similar matters. Such statements constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. All statements based on future expectations rather than historical facts are forward-looking statements that involve a number of risks and uncertainties, and LLEG cannot provide assurance that such statements will prove to be correct. LLEG undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Source: Laidlaw Energy Group, Inc. [/QB][/QUOTE]
Instant Graemlins
Instant UBB Code™
What is UBB Code™?
Options
Disable Graemlins in this post.
*** Click here to review this topic. ***
Contact Us
|
Allstocks.com Message Board Home
© 1997 - 2021 Allstocks.com. All rights reserved.
Powered by
Infopop Corporation
UBB.classic™ 6.7.2