posted
ORLANDO, Fla., May 12, 2004 (PRIMEZONE) -- TS&B Holdings, Inc. (``Company'' or ``TS&B'') (OTC BB:TSBB.OB - News), CEO James Jenkins has provided the following open letter to all shareholders and the investment community. ADVERTISEMENT
I wish to thank all our shareholders and investors who have stuck with TS&B through this turbulent time, both in the U.S., and all over the world, that are and have supported our efforts. I feel it is essential that the current shareholders and prospective investors are aware that TS&B is executing its strategic business plan to improve shareholder value. TS&B is not just ``another'' OTCBB company.
The stock market has not been responsive to TSBB. It is the Company's position that due to the trading volume that TSBB has experienced over the past few months the Company has been targeted by ``SHORTERS'', and that our stock is severely undervalued at current levels. The Company and the management are not selling stock. 1E shares are one method BDCs use to raise investment cash. The Company cannot stop investors of 1E stock from selling when they choose. The Company believes the per-share price should be in the $.03 to $.05 range, the share price was recently at $.05. The Company knows the only way to rid TSBB of the ``SHORTERS'' is to acquire assets, revenue and show earnings. The Company is taking the steps necessary to fulfill those requirements. The Company also needs to have sustained retail buying. It is our sincere hope that our current shareholders as well as potential investors will see the intrinsic value of TSBB and ``BUY'' at the current levels, which are severely depressed.
Management forecasts that quarterly operating results will increase significantly due to many factors, including the generation of revenue from the Company's recent acquisitions, investments and consulting fees. The Company has also added significant assets to the Company's balance sheet. The Company has hired an independent appraisal firm, Valuation Strategies, Inc., to value the Company's most recent acquisitions and those appraisals will be incorporated into the third quarter financial statements.
Company Election to a Business Development Company (BDC)
The Company elected to become a Business Development Company under the 1940 Act in January 2004. BDCs were created to provide investment capital for undercapitalized developing companies. The Company's election as a BDC allows it to raise money in the public sector and reinvest it in the private sector. By investing in a BDC shareholders enjoy diversity of markets and the liquidity of a publicly traded stock while participating in the private equity industry. TS&B has targeted the following growing markets; Manufacturing and Distribution; Product Marketing and Sales; Financial Services; Sports & Entertainment and Gaming; and Construction and Management Services.
The business model for TS&B as an investment company (BDC) requires TS&B to lend its management expertise to the existing management of companies acquired or invested in by TSBB to further develop and expand their businesses. The Company makes investments through cash, debt, equity, warrants and hybrid instruments. The Company can raise up to $5M annually through the 1E registrations. Recently the company raised $850K.
TS&B's management has substantial experience in all aspects of investment and business including commercial real estate, finance, sales & marketing, construction, golf course development, gaming and hospitality. TS&B has conducted substantial research and due diligence on a variety of investment opportunities and TS&B believes this initial range of products and investments benefit TS&B shareholders. In addition, there is an opportunity to cross-sell between TS&B portfolio companies and subsidiaries.
The following is a list of our recent accomplishments . . .
In February, the Company closed on the investment in Gulf Coast Records. The business plan has been executed and is moving along extremely well. The recording of the first album started on April 26th and is anticipated to be released in June 2004. We are extremely happy with the success we are having with the team that has been assembled to promote Glenn Cummings in Nashville.
In March, the Company closed on Buehler Earth and Waterworks LLC (BEW). The Company owns a 51% equity interest in the business and will provide management services. BEW is in the site preparation, underground utility and land clearing business in Florida. Mr. Buehler has extensive experience in site preparation, underground utility and land clearing. There is a large market both here in Florida and around the country for this business. Revenues for this year are projected to be approximately $2 million dollars with net income projected to be approximately $400,000. BEW currently has signed contracts of $75,000 and over $1,400,000 pending bids to date. BEW's operation will grow internally as well as externally. BEW recently completed a project at Camellia Point in East Orlando and started the Orlando Flight Training Facility in Kissimmee.
In March, the Company announced the formation of TS&B Gaming & Entertainment Corp., a wholly owned subsidiary created solely for the purpose of positioning the Company in the $600 billion dollar Gaming Industry. In the year 2000, 35.1 Million people played online games. That number is expected to rise to 104.9 million by the year 2005. Online games are growing at a rate of 25% annually. To date the Company has signed a Letter of Intent with a Florida Corporation to jointly develop a world class thoroughbred race track and para-mutual gaming facility in Central Florida. The Company is acting as the investment advisor to raise the necessary funding for the project through the Company's commercial financing contacts and will receive equity. The Company is also in discussions with several on-line gaming companies to secure a license agreement and intends to develop an Online Casino and Website that will include blackjack, roulette, craps, pai gow, poker and slots.
In March, the Company formed TS&B Ventures, Inc., a Florida corporation, to develop a series of investment partnerships that will be instrumental in financing associated transactions for TS&B. The Company is currently exploring the acquisition of a site prep company in Central Florida with revenues of $18M and is in negotiations with a custom millwork & casework manufacturing company in the southeast with revenues of $7M, and combined net income of approximately $2.5M. Management anticipates raising up to $5,000,000 in fresh capital through sub-debt and hybrid securities to fund transactions of this nature. TS&B Ventures is currently in contact with several large hedge funds and is working to structure one of several offerings for acquisitions.
In May, the Company is closing on Cummings Financial. The Company will own a 51% equity interest in the business and will provide management services. Cummings Financial Services is a residential mortgage company started in 1998. The company employs 20 people. In 2003 they processed $26.5M in loans with gross revenues from fees in excess of $850K. CFS has financing relationships with over 450 financial institutions allowing them the ability to guarantee their clients the lowest possible rate. They have a secondary revenue source through their relationship with a Title Company. The Company intends to integrate its commercial mortgage business into Cummings Financial.
Revenue Streams
The Company's first priority is to grow revenue through portfolio investments and to expand the base of such investments. As previously released the company projects approximately $2M in revenue from Buehler Earth and Waterworks and in excess of $1M from Cummings Financial Services. Additional revenue will come from Sports Nation, Gulf Coast Records and TS&B Gaming as well as management fees charged to the portfolio companies.
The Company anticipates meeting its cash needs through revenue from its portfolio acquisitions, financial consulting services, commercial real estate transactions and leveraging its relationships with other companies within its other revenue divisions.
In closing I would again like to thank our stockholders for their continued patience as we navigate the OTCBB landscape. When we began the journey to develop this business plan, our sources of revenue were very limited. We adopted a plan which was very expensive for our stockholders from a viewpoint of dilution but one which included our then present stockholders rather than excluding them. The Company has sold 50,000,000 shares of stock to raise the money for investment in the companies mentioned and to finance the continuation of the business plan as we have presented it. We will continue to raise funds by the best means possible to finance acquisitions and investments that we believe will provide stockholder value. We value your support and will be making a better effort to communicate to stockholders as we make advances in executing our plan.
SAFE HARBOR
The statements made in this release constitute ``forward-looking'' statements, usually containing the words ``believe,'' ``estimate,'' ``project,'' ``expect,'' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Contact:
TS&B Holdings, Inc. Jim Jenkins, CEO (407) 649-8325 jjenkins@****************
Posts: 983 | From: Bethel Island, Ca. 94511 | Registered: Feb 2004
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TS&B Holdings Inc. CEO Announces Corporate News Bulletin
***
> ORLANDO, Fla., May 12, 2004 (PRIMEZONE) -- TS&B Holdings, Inc. ("Company" or "TS&B") (OTCBB:TSBB), CEO James Jenkins has provided the following open letter to all shareholders and the investment community. I wish to thank all our shareholders and investors who have stuck with TS&B through this turbulent time, both in the U.S., and all over the world, that are and have supported our efforts. I feel it is essential that the current shareholders and prospective investors are aware that TS&B is executing its strategic business plan to improve shareholder value. TS&B is not just "another" OTCBB company. The stock market has not been responsive to TSBB. It is the Company's position that due to the trading volume that TSBB has experienced over the past few months the Company has been targeted by "SHORTERS", and that our stock is severely undervalued at current levels. The Company and the management are not selling stock. 1E shares are one method BDCs use to raise investment cash. The Company cannot stop investors of 1E stock from selling when they choose. The Company believes the per-share price should be in the $.03 to $.05 range, the share price was recently at $.05. The Company knows the only way to rid TSBB of the "SHORTERS" is to acquire assets, revenue and show earnings. The Company is taking the steps necessary to fulfill those requirements. The Company also needs to have sustained retail buying. It is our sincere hope that our current shareholders as well as potential investors will see the intrinsic value of TSBB and "BUY" at the current levels, which are severely depressed. Management forecasts that quarterly operating results will increase significantly due to many factors, including the generation of revenue from the Company's recent acquisitions, investments and consulting fees. The Company has also added significant assets to the Company's balance sheet. The Company has hired an independent appraisal firm, Valuation Strategies, Inc., to value the Company's most recent acquisitions and those appraisals will be incorporated into the third quarter financial statements. Company Election to a Business Development Company (BDC) The Company elected to become a Business Development Company under the 1940 Act in January 2004. BDCs were created to provide investment capital for undercapitalized developing companies. The Company's election as a BDC allows it to raise money in the public sector and reinvest it in the private sector. By investing in a BDC shareholders enjoy diversity of markets and the liquidity of a publicly traded stock while participating in the private equity industry. TS&B has targeted the following growing markets; Manufacturing and Distribution; Product Marketing and Sales; Financial Services; Sports & Entertainment and Gaming; and Construction and Management Services. The business model for TS&B as an investment company (BDC) requires TS&B to lend its management expertise to the existing management of companies acquired or invested in by TSBB to further develop and expand their businesses. The Company makes investments through cash, debt, equity, warrants and hybrid instruments. The Company can raise up to $5M annually through the 1E registrations. Recently the company raised $850K. TS&B's management has substantial experience in all aspects of investment and business including commercial real estate, finance, sales & marketing, construction, golf course development, gaming and hospitality. TS&B has conducted substantial research and due diligence on a variety of investment opportunities and TS&B believes this initial range of products and investments benefit TS&B shareholders. In addition, there is an opportunity to cross-sell between TS&B portfolio companies and subsidiaries. The following is a list of our recent accomplishments . . . In February, the Company closed on the investment in Gulf Coast Records. The business plan has been executed and is moving along extremely well. The recording of the first album started on April 26th and is anticipated to be released in June 2004. We are extremely happy with the success we are having with the team that has been assembled to promote Glenn Cummings in Nashville. In March, the Company closed on Buehler Earth and Waterworks LLC (BEW). The Company owns a 51% equity interest in the business and will provide management services. BEW is in the site preparation, underground utility and land clearing business in Florida. Mr. Buehler has extensive experience in site preparation, underground utility and land clearing. There is a large market both here in Florida and around the country for this business. Revenues for this year are projected to be approximately $2 million dollars with net income projected to be approximately $400,000. BEW currently has signed contracts of $75,000 and over $1,400,000 pending bids to date. BEW's operation will grow internally as well as externally. BEW recently completed a project at Camellia Point in East Orlando and started the Orlando Flight Training Facility in Kissimmee. In March, the Company announced the formation of TS&B Gaming & Entertainment Corp., a wholly owned subsidiary created solely for the purpose of positioning the Company in the $600 billion dollar Gaming Industry. In the year 2000, 35.1 Million people played online games. That number is expected to rise to 104.9 million by the year 2005. Online games are growing at a rate of 25% annually. To date the Company has signed a Letter of Intent with a Florida Corporation to jointly develop a world class thoroughbred race track and para-mutual gaming facility in Central Florida.
posted
Glass ..... NICE pick on ONEV ..... This one TSBB looks to do the same. I might just sell half of my QBID stake.
Posts: 983 | From: Bethel Island, Ca. 94511 | Registered: Feb 2004
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posted
gee, no one noticed that I've been posting this all along. Posted the PR this morning too. well, I got in a while ago at .004. guess no one heard me. ~BB
Posts: 2651 | Registered: Apr 2004
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posted
Well, there is the pesky little problem of this... NEWS OUT.
TS&B Holdings, Inc. Discovers Unauthorized Listing on the German Exchange and Requests Shareholder Help 5/12/2004 12:15:21 PM ORLANDO, Fla., May 12, 2004 (PRIMEZONE via COMTEX) -- TS&B Holdings, Inc. ("Company" or "TS&B") ( TSBB ), has recently been made aware of an unauthorized listing of its common stock on the Berlin-Bremen Stock Exchange. TS&B executives became suspicious that "naked short selling" was taking place in its stock due to the continuous drop in share price over the past several weeks for no apparent reason. Naked shorting is possible due to the unregulated nature of the Berlin Exchange. The Company recently learned that other companies, e.g., DiCut Inc. (DCUTE), Whistler Investments (WHIS), Nanopierce (NPCT), Datascension (DTSN) and BGR Corp. (BGR) were subjects of the same action.
According to a May 6th release by financialwire.net via COMTEX, Nanopierce commenced a lawsuit against the Depository Trust and Clearing Corp., the Depository Trust Company and the National Securities Clearing Corp., claiming these parties have nearly a $1 Billion stake in continuing a program that results in naked short selling. The Company commenced an investigation regarding the unauthorized listing of its stock on the German Exchange.
James Jenkins, TS&B Holdings CEO stated, "we have suspected for a while that naked shorting was taking place. There is no apparent reason for TSBB stock to be trading at current levels. Now that we have confirmation that this type of naked shorting is also happening to other OTCBB companies, we are taking immediate action to address the negative impact on our stock." These steps include:
* Counsel has sent a letter to the Berlin Stock Exchange demanding that TSBB be removed from the Exchange. A Form 8K has been filed with the SEC.
* The Company recently changed Transfer Agents from Atlas Transfer Company to Transfer Online, Portland, Oregon. Transfer Online certificates are a new color and have a barcode. The Company will be issuing a request to all shareholders of record to redeem their shares from their broker and take hard certificates in their possession and then send the certificates to Transfer Online for new certificates.
* The Company, through its counsel, will investigate the source of the listing on the Berlin Stock exchange to determine who initiated the unauthorized listing application and whether such actions violate the securities laws of the United States and Germany.
* The Company, through its counsel, will investigate the available remedies under German securities laws for such unauthorized actions.
* The CEO of the Company will solicit cooperation with other companies similarly situated in a unified effort to protect all such companies.
About TS&B Holdings Inc.
TS&B Holdings Inc., is a Business Development Company under the Investment Act of 1940 aggressively seeking opportunities in emerging and fast growth industries.
Safe Harbor
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
SOURCE: TS&B Holdings Inc.
TS&B Holdings, Inc. Jim Jenkins (407) 649-8325 jjenkins@**************** www.****************
Regarding the listing on the Berlin Exchg, I read many places that while the company claimed they didn't know how they got listed, there was evidence that they had a part in it. I'm gonna dig deeper today considering the run. It didn't seem like such a big deal yesterday- actually seemed like an opportunity. This one bounces up and down by 30% all day long, and has averaged out around .004 lately, but I def think it's undervalued. ~BB
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I know this is pure speculation, but dardadog, do you or anyone else think this thing will run before Tue.? I'm thinking of dumping some QBID, picking this up for a quick score, then rebuying QBID. Someone give my their thoughts please.
Posts: 395 | From: Grand Rapids MI 49546 | Registered: Feb 2004
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posted
Does anyone know when the news release will hit "mainstream"? My Ameritrade still doesn't have it posted on my streamer.
Posts: 395 | From: Grand Rapids MI 49546 | Registered: Feb 2004
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quote:Originally posted by jonv: Does anyone know when the news release will hit "mainstream"? My Ameritrade still doesn't have it posted on my streamer.
quote:Originally posted by jonv: Does anyone know when the news release will hit "mainstream"? My Ameritrade still doesn't have it posted on my streamer.
posted
With the magnatude of the news that was released, why are we hanging at .0062?
Posts: 395 | From: Grand Rapids MI 49546 | Registered: Feb 2004
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quote:Originally posted by jonv: With the magnatude of the news that was released, why are we hanging at .0062?
Probably because it doesn't look so great for a company to release a PR begging investors to buy their stock... or one that states that they're undervalued. Whether or not they're undervalued is for shareholders in determine. I'll be interested to see if this actually works. I'd love to see Bill Gates put out a whiney PR stating that his MSFT if being manipulated and to please buy.. "we're worth more.. really!"
Wouldn't be surprised to see the rocket up, but whether or not it lasts will be interesting to see.
-R
[This message has been edited by RobinO (edited May 12, 2004).]
Posts: 216 | From: Tampa, FL/Washington DC | Registered: Mar 2004
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posted
I'm not sure which release Robin thinks is whiney. I was happy to get some answers as to why a company I thought should have a higher pps wasn't going anywhere. I happen to think their biz development and expansion is going somewhere and adding value to the company. I happen to think Glenn Cummings rocks. That online gaming & casinos are a huge revenue opportunity for the future. Make your own decisions. If you aren't looking to day trade it immediately I think this is a good entry point (.005ish)but perhaps holding out can get you in at .004. And I don't interpret the statement by the CEO, nor either of the PR's today, as whiney pleadings. JMHO. ~BB
quote:Originally posted by jonv: I see. Better late than never I guess. Is a huge run expected before Tue. of next week?
posted
I think this baby is pretty much a SURE thing. Thurday I am definately selling a portion of my QBIS stake and buying more of TSBB on FRIDAY.
Posts: 983 | From: Bethel Island, Ca. 94511 | Registered: Feb 2004
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posted
Yes the "RATS have left the QBID ship" and are NOW BOARDING the TSBB CRUISE LINER !!!
Posts: 983 | From: Bethel Island, Ca. 94511 | Registered: Feb 2004
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posted
Complete with a Casino and Country Music Entertainment In the Ships LOUNGE !!!
Posts: 983 | From: Bethel Island, Ca. 94511 | Registered: Feb 2004
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quote:Originally posted by Earth_Shaker: I think this baby is pretty much a SURE thing. Thurday I am definately selling a portion of my QBIS stake and buying more of TSBB on FRIDAY.
on thurday your selling qbis-LOL
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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