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Ohana Enterprises Pursues Acquisition Strategy

MALIBU, Calif., Oct 6, 2004 (BUSINESS WIRE) -- Ohana Enterprises, Inc. ("Ohana") (OTCBB:OHNA) today announced that it has entered into a non-binding Memorandum of Understanding ("MOU") to acquire 100% of the assets of an established 31-year-old California business valued at approximately $10 million.
The business, whose name is being withheld for reasons of confidentiality, is a leader in a niche market. It currently generates approximately $1.5 million in annual revenues, with a gross margin of approximately 43.2% and EBITDA of approximately $50,000 (all numbers unaudited).

Commencing immediately following the filing of its annual report on Form 10-KSB, Ohana will begin to conduct due diligence on this prospective acquisition to determine the viability and value of the aforementioned property and assets. Management believes it will take approximately 4 to 5 months to complete the due diligence process of this specific acquisition candidate, which would include inventory testing, building inspections, and a complete 3-year trailing audit of the selling company's financial statements. Management has already made several visits to the location of the selling business for initial qualification, quantification, and inspection of property, inventory, and assets to determine if it is necessary to proceed to the next phase of conducting intensive due diligence. Upon satisfactory completion of this due diligence, Ohana would secure and execute definitive purchase agreements to complete the acquisition of the business and assets described in the MOU. Due to the sensitive nature of the Seller's business and relationships with its distributors, the Seller has requested for the protection of the Seller and Buyer that the name of the Seller be withheld until time of closing.

"We are pleased to have the assistance from our new partners in New York for the added capital in order for the Company to move forward with its strategy of seeking this acquisition candidate to facilitate the Company's growth plans," stated Company CFO Catherine Thompson. "With this acquisition, Ohana and GarcyCo Capital Corp. will work together in attempting to achieve a listing on a national exchange. We believe the Company will then have the necessary requirements to satisfy such a goal and that such a milestone achievement will be of benefit to its current and future shareholders."

The terms of the agreement are to acquire one operating division for $6 million at a purchase price consistent with the Stock Purchase agreement dated September 14, 2004, by and between the Company and GarcyCo Capital Corp, and to acquire the second operational division within three years at a set purchase price of $4 million under the terms of the same conversion price. The first acquisition consists of approximately $6 million in assets, including, but not limited to, land, buildings, inventory, production equipment, contracts, distribution relationships, etc. The second consists of $4 million in like assets to complement the first. Collectively the two divisions are producing and selling at approximately 25% of current capacity. The Company's initial plan is to increase sales by refining and perfecting the product; and defining and implementing a marketing plan that will complement the improved product and piggy back on the existing loyal distribution channels and customers. The Company will seek to push production and sales to 100% capacity, thus driving its revenue base. Subsequently, Ohana will seek to continue its growth plan through the addition of complementary acquisitions at a later date.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of Ohana to complete the proposed acquisition(s); the results of Ohana's due diligence review of the candidate(s); the success of the business of the acquisition candidate(s), including the ability of Ohana to continue to sell the applicable products and the acceptance of those newly designed products by the market; market conditions; the general acceptance of the Company's products and technologies; competitive factors; timing; and other risks described in the Company's SEC reports and filings. The closing of the transaction will be subject to complete due diligence, inventory tests, inspections, and a completion of audited financial statements in accordance to GAAP as required by the SEC prior to consummation.

SOURCE: Ohana Enterprises, Inc.

CONTACT: Ohana Enterprises, Inc.
Catherine Thompson, 310-456-3199
Fax: 310-456-1778
Email: catherine@ohana-ent.com

Copyright (C) 2004 Business Wire. All rights reserved.

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KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: MERGERS/ACQ
Copyright
Business
Wire
2004

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Originally posted by Ktrain420:
Composite Indicator
Trend Spotter TM Sell

Short Term Indicators
7 Day Average Directional Indicator Sell
10 - 8 Day Moving Average Hilo Channel Hold
20 Day Moving Average vs Price Sell
20 - 50 Day MACD Oscillator Sell
20 Day Bollinger Bands Hold

Short Term Indicators Average: 60% - Sell
20-Day Average Volume - 6320065

Medium Term Indicators
40 Day Commodity Channel Index Hold
50 Day Moving Average vs Price Sell
20 - 100 Day MACD Oscillator Sell
50 Day Parabolic Time/Price Sell

Medium Term Indicators Average: 75% - Sell
50-Day Average Volume - 4099994

Long Term Indicators
60 Day Commodity Channel Index Sell
100 Day Moving Average vs Price Sell
50 - 100 Day MACD Oscillator Sell

Long Term Indicators Average: 100% - Sell
100-Day Average Volume - 2894502

Overall Average: 80% - Sell

Price Support Pivot Point Resistance

0.0025 0.0023 0.0026 0.0029

anyone have any opinions on this one??

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Originally posted by Bigrod40:
Will
Got lucky picked up a 100,000 at .0023.
Happy, Happy.
Easy double or triple the way this flys off and on.

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I expect it to atleast get back to that level shortly. That alone is a 250%. I very well might add another 300K and ride it again and hold for that .25 that it had last june.

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Originally posted by Bigrod40:
WTF....Did I miss something here or what,
dropped all of a sudden 23%

Anyone???

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