YES!! Good news.ProActive Computer Services, Inc. Seeks Share Buyback - CEO; Architectural Drawings To Be Posted on Corporate Website
Business Wire - March 31, 2004 11:47
HOUSTON, Mar 31, 2004 (BUSINESS WIRE) -- ProActive Computer Services Inc. (PAVP: Pink Sheets) will launch a share buyback program as early as next week, Chief Executive Andrea Cortellazzi said on Wednesday. The company will seek to repurchase its shares due to management's belief that the price is far below other real estate development companies on a projected price-to-cash-flow basis. PAVP projects revenues from operations to reach approximately $3.5M by the end of 2004. This is forecast to be generated, following the construction of the hangar and adjoining structure, from leasing contracts signed with tenants and the fuel farm to be installed at St. Hubert airport.
PAVP is pleased to announce that the architectural drawings of the hangar and proposed modernization of St. Hubert airport will be posted on CortDev's new corporate website, which will be released by the end of the week. PAVP has received approval for the name change to CortDev Inc. from the State of Nevada. According to the Transfer Agent, Bill Little, the company is awaiting the issuance of the new trading symbol by NASDAQ to complete the process. The company expects to receive it any day now.
PAVP is committed to attaining OTC Bulletin Board status and will use its recently acquired OTC shell to expedite the process. The shell will acquire PAVP, which will help to render it fully-reporting and eligible to trade on the OTC. Shareholders of PAVP will not be affected as they will retain all their shares and the capital structure of the company will remain unchanged. There will be no reverse split of PAVP shares.
Finally, Chief Executive Andrea Cortellazzi would like to take this opportunity to assure all shareholders that the company is doing all it can to build a viable and profitable business while at the same time maximizing shareholder value. Andrea stated: "While the company has met many challenges in getting the St. Hubert airport project off the ground, we are definitely close to reaching our goals. Financing has been sourced and all that is left is to secure the lease on the property, which should be done in short order. We have made tremendous progress over the past three months with respect to the CortDev project and we expect this to pay off for shareholders in the near future."
PAVP has been in negotiations for the past three weeks to acquire three privately-held companies. This information will be released as soon as a letter of intent is signed with any of these parties.
For further information please contact Investor Relations at (973) 351-3868
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. More information about potential factors that could affect the company's business and financial results may be obtained by contacting the company at by phone at 973-351-3868. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
SOURCE: ProActive Computer Services Inc
Investor Relations:
Taylor Capitol, Inc.
Stephen Taylor, 973-351-3868
STEPHTAYL9@AOL.COM www.IPOmovers.com
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