posted
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
Customize your Business Wire news & multimedia to match your needs. Get breaking news from companies and organizations worldwide. Logon for FREE today at www.BusinessWire.com.
Copyright (C) 2004 Business Wire. All rights reserved.
posted
TOOOOO bad my .0036 didnt get filled! What a shame. We are at 5 and climbing. GO PAVP go. Solid grounds to start and a good PR. Good movement, good day, good PAVP. GOOOOD luck to all. B
Posts: 300 | From: Comer, Ga, USA | Registered: Mar 2004
| IP: Logged |
posted
THis is great news! Bashers coming out of the woodwork in full force on RB... sowing doubt, etc... wish they'd all die a slow and painfull death. salemm.
Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004
| IP: Logged |
posted
Better yet wish tey p*ss blood for all the stress they caused us.
quote:Originally posted by salemm: THis is great news! Bashers coming out of the woodwork in full force on RB... sowing doubt, etc... wish they'd all die a slow and painfull death. salemm.
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
| IP: Logged |
posted
Well....PAVP has finally learned something about 'how' to release news. This surprise caught everyone off guard... and the pps reflects it. (lifting beer mug)Here's to a steady climb back to profitability!! salemm.
Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004
| IP: Logged |
posted
Its about time! I had set a GTC order at .0052 this morning, just hoping to get some of my money back, so it filled and now I'm back in at .0046. I'm hoping it runs this afternoon. Anyone have L2??
Posts: 38 | From: Columbia, SC, USA | Registered: Feb 2004
| IP: Logged |
posted
I don't know if it can sustain a run yet. They might take it back down and try to shake more people out yet today?
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
| IP: Logged |
posted
IMO, all the people who could have been shaken out are gone already. Everyone else who had lost faith in the company would have sold on this morning's run trying to get some $$ back. I almost got shaken myself when we were in the .003's. I think it has nowhere to go but up from here until april 9. Just my opinion.
Posts: 38 | From: Columbia, SC, USA | Registered: Feb 2004
| IP: Logged |
posted
Yeah, Tasha, I'm also looking for 0.02. Seems pretty far-fetched, I know... but the company IS worth that much. Until April 9th, I think 0.01 is attainable... after all, free shares are... well... FREE! salemm.
Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004
| IP: Logged |
posted
Need some advice,I got in at .0036, should I sell some so to be left with only free shares or hold on to all???
Posts: 64 | Registered: Jan 2004
| IP: Logged |
posted
I think they will run it back to .0055. and then drop for another shakeout.
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
| IP: Logged |
posted
It's always wise to sell and get your original investment back and just ride with free shares.... so you should consider that. My opinion though, not advice, is that PAVP will go much higher. We are expecting a new name and listing on OTCBB soon... so you can expect a pretty good rise then too... bigger than the one we've just seen. If you're not in any hurry, you should also consider holding at least till then. All in all... I guess this doesn't help you in your decision, but that's the point, really: the decision is yours, and yours alone to make (level of risk-tolerance). Whatever decision you make WILL be the right one. No regrets! salemm.
quote:Originally posted by tasharruf: Need some advice,I got in at .0036, should I sell some so to be left with only free shares or hold on to all???
posted
Sorry guys. I know you get sick of all the questions with people learning, but what all entails a buyback program? The company repurchasing shares.. what does this mean? Thanks, RUN PAVP RUN B
Posts: 300 | From: Comer, Ga, USA | Registered: Mar 2004
| IP: Logged |
posted
anyone think it will retrace down into the .004's later today or tomorrow or is it just up from here?
Posts: 164 | From: New York, NY, US | Registered: Feb 2004
| IP: Logged |
quote:Originally posted by Just Learning: Sorry guys. I know you get sick of all the questions with people learning, but what all entails a buyback program? The company repurchasing shares.. what does this mean? Thanks, RUN PAVP RUN B
When PAVP buys back some of their shares, it means they are basically lowering their o/s. Right now the o/s is supposed to be around 900,000,000 which is pretty high. The higher the o/s the harder it is for the stock price to shoot up dramatically because there are more buyers and sellers. If they plan on lowering the o/s, there will be fewer shares to the public which means the supply is lower....it's basically a supply and demand concept..hope that helps...it would be really nice to get alot of those shares off the market and lower the o/s GLTA
Posts: 164 | From: New York, NY, US | Registered: Feb 2004
| IP: Logged |
posted
i think the whole reason that the buyback program is important is because usually they(the company) buy a load of shares, buyers will definately be winning for the next week or so, and that coupled with the name change and otc status could bring this stock way up!
Posts: 36 | Registered: Mar 2004
| IP: Logged |
posted
Just be wary...sometimes, as a company initiates a buyback, you will see the PPS MAGICALLY stay low or move lower. What company wants to BUILD UP its PPS right before it buys shares. The trick is to get them as cheap as possible. So, if you DO witness price staying low, it COULD be to facilitate the buyback. Just keep an eye on volume and buys vs sells. If buys outweigh sells, and price stays low, that is a good indicator!
Posts: 1148 | Registered: Jan 2004
| IP: Logged |
posted
I wonder... just wonder if maybe the buyback has not ALREADY occured!? WOuldn't it make sense to do it, then announce it, instead of the other way around? It makes more financial sense for the company to buy shares at .0036 than at .0050, no? Just thinking out loud. salemm.
Posts: 783 | From: Ottawa, Canada | Registered: Feb 2004
| IP: Logged |
posted
beautiful! now if it goes back to .01, i'll br right where i started! let's go buyback program!
Posts: 353 | From: Bay Area, CA | Registered: Feb 2004
| IP: Logged |
posted
I dont know how long you all have been in this for, but PAVP had a day exactly like this before it first broke out. It opened around .003, closed .0065, and over the next 2 days, ran to .028. Lets hope history repeats itself! There may be another shakeout, but in my opinion, they will run the price higher first.
Posts: 38 | From: Columbia, SC, USA | Registered: Feb 2004
| IP: Logged |
Yes but see, the company feels that anything under a cent is rediculously undervalued. So buying back anywhere under a cent wouldnt be too bad. Plus, remember that we arent their biggest investors. Their biggest investor Beral, while hard to find anything on them, has warrants at .10 PPS!! Now if I was beral, wouldnt i have done my dd and seen that this would go to .10...... Btw just hit new HOD and there is a STRONG rumor of news at 3:30.
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
