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[QUOTE]Originally posted by Yankee: [QB] Jan 21, 2008 (M2 PRESSWIRE via COMTEX) -- January 19, 2008 -- James Monroe Capital Corporation (Pinksheets: JMCP) is in negotiations with Khangolov Resources regarding its oil and gas contracts, and other related assets, in exchange for a large portion of ownership in their oil and gas group. The stock to be received by James Monroe Capital has dividend rights, is non-dillutable for one year, and will be free trading after Khangolov Resources completes all necessary SEC filings to improve the corporation and establish it as being publicly traded. Frank Love, president of Khangolov Resources, will run their operation, and wishes to acquire all oil and gas contracts, and all mineral related assets owned by JMCP Acquisitions Corp. A panel of shareholders has been doing due diligence on the company's assets, their liabilities, potential for growth, and the funds and abilities required to follow-through with their intent. Due to the numerous contracts, deals, and unfamiliar nature of the assets to the panel, a representative shareholder has requested an audit, and that all such assets and contracts be transferred into a contained subsidiary for safety and maximization. To spin this subsidiary off as a separate, publicly traded company achieves the greatest shareholder value, and relieves James Monroe Capital of any fundraising burdens. James Monroe Capital paid out a dividend of Greenbelt Resources Corporation stock last year (GRCO, a company that designs and manufactures biofuels plants, formerly ONYI), but the James Monroe Capital does not yet seem to have a general consensus as to whether or not this new company should be passed through to the shareholders in the form of another dividend, or if it should be retained and used for capitalization purposes. If this deal goes through, James Monroe Capital can then continue to move on other project efforts rather than to continue to rely only on its oil, gas, and mining deals as its sole means of success. [/QB][/QUOTE]
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