posted
MBAH Announces Stock Restructure Thursday August 4, 9:22 am ET
SCOTTSDALE, AZ--(MARKET WIRE)--Aug 4, 2005 -- MBA Holdings, Inc. (OTC BB:MBAH.OB - News) announces the restructure of earned common stock. ADVERTISEMENT
Gaylen Brotherson, CEO of Cactus Family Investments, and Wayne (Lumpy) Ordakowski, Founder of Blue Sky Motorcycle Rentals, Inc., have placed their cumulative 48.5 million common shares of MBAH stock into an escrow account. Under the terms and conditions of the agreement, Mr. Brotherson and Mr. Ordakowski can only receive their previously earned shares at qualified triggering events.
Share release events are based on sustaining a 15-day average of the daily closing price of MBAH stock. Increments for release of the earned shares are 10% at .10, 10% at .20, 20% at .30, 20% at .40, 20% at .50 and 20% at .60.
Brotherson and Ordakowski have retained their rights to immediately receive their shares, without restriction, in the event of a verified/certified takeover, buyout or merger bid of the majority of the outstanding shares of MBAH stock.
Wayne (Lumpy) Ordakowski commented on the restructure, "We have listened to our Shareholders and believe not only is this the right thing to do, but hopefully we'll increase investor confidence by setting aside our shares. I'm here for the long run and I'll do whatever it takes to help build this company."
Gaylen Brotherson, CEO of MBAH, stated, "We are all here for the long run, and I believe MBAH stock is severely undervalued at our present share price. With actions like these, I'm anticipating the market will react favorably. One of our missions is to increase sales and the other is to build Shareholder value that will in turn build company value. We effectively removed 48.5 million of the outstanding shares of the company today by locking them up in this restructure. It is another incentive for us to build this company into the powerhouse I believe it can be."
Brotherson continued, "We completed the Blue Sky Las Vegas and Phoenix store acquisitions and also shored up a few deals we've been working on for months. We'll announce those in the near future."
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to business conditions and the amount of growth in the insurance or associated automotive industries and general economy, competitive factors, and other risks detailed from time to time in the company's SEC reports, including but not limited to its annual report on Form 10-K and its quarterly reports on Forms 10-Q. The company does not undertake any obligation to update forward-looking statements.
Investor Relations: Equitilink Ron Garner (877) 788-1940
-------------------------------------------------------------------------------- Source: M.B.A. Holdings, Inc.
Posts: 1295 | From: New Jersey | Registered: Dec 2004
| IP: Logged |
posted
this is huge, the share structure is the main issue investors have had with the company the past several months. there will be more big news on the after this PR. trust me the CEO is going to do everything in his power to get the PPS up. he cannot even begin to sell any of his shares till MBAH hits .10, ill be happy with a 200% increase. glad i bought more last week.
10% at .10 10% at .20 20% at .30 20% at .40 20% at .50 20% at .60
Posts: 824 | Registered: Oct 2004
| IP: Logged |
Item 8.01. Other Events The Company, through its subsidiary company WorldWide Rentals, LLC has completed the acquisition of all of the assets of Liberty Motorcycle Rentals, LLC, a motorcycle rental operation that rents Harley-Davidson motorcycles from its Tempe, Arizona location. Liberty Motorcycle Rentals, LLC was a licensed rental location of Blue Sky Motorcycle Rentals, Inc. The purchase price included cash, the assumption of certain pre-existing liabilities and M.B.A. Holdings, Inc. common stock. The assets will continue to be employed in the operation of a licensed Blue Sky Motorcycle Rentals, Inc. location.
The Company, through its subsidiary company Rent2Ride Nationwide, LLC, also acquired certain motorcycle assets and 100% of the common stock of Escape Eagles, Inc., a Las Vegas, Nevada motorcycle dealer and rental operation that sells and rents motorcycles from its facility. The purchase price included cash, a note payable over four years and M.B.A. Holdings, Inc. common stock. Rent2Ride Nationwide will integrate its operations with the Denver, CO and Tempe, AZ locations.
Posts: 1295 | From: New Jersey | Registered: Dec 2004
| IP: Logged |
posted
This is great! He's a super nice guys (Brotherson) from the email he wrote me. Very willing to talk about the company and seemed truly honest. This escrow of shares only verifies it.
Posts: 255 | From: Charlottesville, VA | Registered: Feb 2005
| IP: Logged |
posted
yep the ceo stays in touch with investors and keeps them informed. which i really like to see, he made a mistake on the share structure a few months ago but, now he fixed the problem. you can see how confident he is in his company now, he cant sell any shares till this hits .10, im averaged down to .0347 on this but, after seeing the news yesterday think ill be holding onto MBAH much longer.
Posts: 824 | Registered: Oct 2004
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
