SAN ANTONIO, Mar 29, 2004 /PRNewswire-FirstCall via COMTEX/ -- Nannaco, Inc. ( NNCO ), today announced it signed a Letter of Intent to acquire Red Alert Group, Inc., a private company specializing in Homeland and Global Security. Upon consummation of the contemplated acquisition, Nannaco, Inc. will elect a new slate of directors and officers drawn from Red Alert Group's existing directors and officers. Steven Careaga, Nannaco's present Chairman and CEO will remain as a director. Nannaco will also change its name to Red Alert Group, Inc. and obtain a new ticker symbol. The transaction is expected to close as soon as practicable.

Red Alert Group primarily provides solutions for Homeland Security, Cyber Security, and Private Military Security. The firm is active in Counterterrorism -- creating measures, procedures, and training as well as mitigation and recovery strategies. Red Alert Group operates in the US from its headquarters in Atlanta and its government office in Washington. Red Alert Group International BV, in The Hague, and Red Alert Group Pte. Ltd., in Singapore are wholly-owned subsidiaries, and the company has a representative office in Kuwait.

Steven Careaga, CEO of Nannaco, Inc. said, "Red Alert's successful history and more than $2 million of existing revenues present an exciting opportunity for Nannaco and its shareholders to enter the rapidly growing Homeland Security industry."

The proposed transaction is subject to customary closing conditions, including due diligence, execution of a Definitive Agreement and approval by the respective Board of Directors (and, to the extent required by applicable law, shareholders). There can be no assurance that the transaction will be completed.

I was playing this one based on past stock performance, and it was beginning to repeat itself. Today's PR totally squashed that repeat... PR released on the 2nd day of a PPS spike. Ugh.

I kept 1k shares just so that I can keep an eye on this one. Homeland Security could be good, but who knows when the acquisition may take place?

Good Luck To ALL!

Think another run to .02 is possible this week?

Nannaco Board Approves Moving Forward on Acquisition of Red Alert Group
Monday April 5, 10:30 am ET

SAN ANTONIO, April 5 /PRNewswire-FirstCall/ -- Nannaco, Inc. (OTC Bulletin Board: NNCO - News), announced today that its Board of Directors approved the completion of due diligence in connection with the proposed acquisition of Red Alert Group.

"We believe Red Alerts' history and potential for growth in the homeland security field represent an exciting opportunity for Nannaco shareholders to participate in a rapidly growing market segment," said Mr. Steve Careaga.

Nannaco, Inc., previously provided surface cleaning, surface protection, surface restoration, and other services to commercial and industrial businesses, as well as to owners of historical buildings. The Company has moved to a new line of business as a consultant and advisor to customers and is seeking to improve it financial position through the acquisition of or merger with companies capable of providing the best value to its shareholders.

Red Alert Group primarily provides solutions for Homeland Security, Cyber Security, and Private Military Security. The firm is active in Counterterrorism -- creating measures, procedures, and training as well as mitigation and recovery strategies. Red Alert Group operates in the US from its headquarters in Atlanta and its government office in Washington. Red Alert Group International BV, in The Hague, and Red Alert Group Pte. Ltd., in Singapore are wholly-owned subsidiaries, and the company has a representative office in Kuwait.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) our limited operating history; (2) our ability to pay down existing debt; (3) our ability to retain the professional advisors necessary to guide us through our corporate restructuring including, but not limited to, our contemplated transaction with Windham Resources, Inc.; (4) the risks inherent in the investigation, involvement and acquisition of a new business opportunity; (5) unforeseen costs and expenses; (6) potential litigation with our shareholders and/or former or current investors; (7) the Company's ability to comply with federal, state and local government regulations; and (8) other factors over which we have little or no control.

For further information, please contact Steve Careaga at 253-853-3632, or send correspondence to 7235 North Creek loop, Gig Harbor, WA 98335.

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Originally posted by having fun:
Can anyone please tell me more about this R/S. I wasn't aware of it. I have been searching for some info and can't find anything.I own a million shares and wondering if i should get out. thanks

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