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OK I have been watching this post, I've had my buy order in like a fool at .0023 when it dipped to .0024. I'm hoping to get in before the next run. Good pick by the way..
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JUPITER Global Holdings, Corp. Confirms Positive Progress of Its Major Acquisitions
"The Company believes that upon closing and financing all of its current and planned holdings, its financial statements will reflect between $10 - $12 million in revenue and between $3 - $5 million in assets. Management believes that if we achieve the milestones to secure working capital at the opportune time and our in progress acquisitions are in place as early as possible in 2005 the above revenue projections can be attained."
The following is an update and outlook for the Company's current and planned holdings:
-- Acquisition of $12,000,000 Telecom Services Company. The discussions that JUPITER has had to acquire a telecom services company that is generating over $12 million in revenue have moved well into the document stage. We expect our negotiations to provide positive results towards getting a binding understanding in place for this acquisition. This firm is planned to be the financial foundation of JUPITER and also be the telecommunications backbone for VOXBOX.
-- VOXBOX VOXBOX Telecom, Inc. has launched its service and also launched its program of developing a network of dealers across North America. Notable revenue generation is expected shortly from both subscribers and dealer territory rights fees. VOXBOX is making steady progress with completing the final details of its U.S. deployment and the final details of the arrangements for its previously announced territory sale agreement. The Voice Over IP (VoIP) industry is taking shape in a major way. Industry analysts predict that over the next decade a significant percentage of voice calls will be conducted over the Internet. VOXBOX's goal is to capture a portion of this fast growing billion dollar market in North America.
-- Acquisition of Wireless Telecom Assets JUPITER has completed its review and confirmation of the $3.2 million wireless telecom assets it signed a Letter of Intent to acquire. A definitive agreement is being drafted and final negotiations are under way. Upon the Company closing the financing necessary to deliver a down payment on the assets the purchase will close.
-- Promo Staffing The closing of the acquisition of Promo Staffing was completed on April 18, 2005. As announced yesterday, the Company is making plans to spin out Promo Staffing into a separate public company and subsequently provide a dividend of Promo Staffing stock to its shareholders. The record date of the dividend will be announced shortly after JUPITER files Promo Staffing's audited financial statements. The Promo Staffing is continually securing more high-caliber clients such as the recently added Liquor distributor, Boisset America. Promo Staffing's revenues are growing and they are poised for significant growth. Promo Staffing is in numerous negotiations with many potential clients including Fortune 1000 brands that will not elevate their stature in the promotional marketing industry but add significantly to their income statement.
"JUPITER is no longer pursuing the acquisition of the Las Vegas Footwear Company as management feels it is in the best interest of the Company to focus on its other growth prospects.
Financing Update: The Company has a financing agreement in place for up to $1.5 Million is debt or equity financing. $100,000 has already been received from the private corporate investor as a loan to JUPITER. Other discussions with several financing sources are ongoing and progress is being made on securing financing necessary to funds its acquisitions and holdings. Our planned financing is subject to numerous activities taking place, such as the signing of definitive agreements, but management is confident it will reach the needs of its potential financiers.
In closing, as stated previously, JUPITER'S commitment to a long-term plan requires a long-term time horizon from its shareholders. The Company is committed to its strategy and will endeavor to successfully execute its business plans over time. The Company thanks its shareholders, both new and old, for their commitment and we look forward to achieving our goals throughout the balance of the year."
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