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Universal Express to Purchase Public Shell 8/9/05
NEW YORK, Aug 09, 2005 (BUSINESS WIRE) -- Universal Express Inc. (OTCBB: USXP), Universal Express today reached an agreement in principle to purchase a publicly trading shell. Specific trading details will be announced after completion of the necessary documents.
"Its initial share base will be in the form of a dividend to our USXP shareholders of record, to be announced in the near future," said Richard A. Altomare, USXP Chairman and CEO.
"As we attempt to rebuild USXP's capitalization, we have been examining multiple methods of benefiting our actual shareholders. This new trading shell may serve as one of those methods. Its anticipated name will be Universal Express Aviation," concluded Mr. Altomare.
About Universal Express
Universal Express, Inc. is a 22 year old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Universal Express Inc.
Equitilink L.L.C. Investor Relations: Ron Garner Toll Free: 877-788-1940 International or Local: 858-824-1940 www.equitilinkpr.com
Copyright Business Wire 2005
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Universal Express, Inc. (USXP) paid an initial deposit on a $2,000,000 down payment towards a $21,000,000 overall purchase of Pacific Jet and the revitalizing of Universal Jet, which was previously announced on January 11, 2005. USXP plans to combine Pacific Jet with Universal Jet and re-name the airline. The balance of the $2,000,000 deposit is scheduled to be paid by May 30, 2005 and has been committed with escrow funds with terms to be satisfied.
The newly combined entity will operate under Universal Jet's charter and licenses. Its combined revenues at full fleet are estimated at approximately $70,000,000. With acceptable refinancing, profitability is expected to be $5,900,000 and unencumbered balance sheet assets are today estimated to be in excess of $10,000,000. The synergies between these two companies make it now possible to operate profitability and reduce duplication of efforts while satisfying old debt.
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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This shell acquisition goes right in line with the completion of the 10m in assets of Pacific jet for $4m by USXP. This is gonna be a huge spin off of a company generating Aprox $70m annualy! No wonder its moving up right now!!!!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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Dustoff I'm glad you posted that because I had just seen it and swore to myself that when I posted the above post there was only on trade at 16:05, and you are right Im looking straight at it! There are now three with the time 16:05:42
I've never (I've been veiwing L2 on 1000's of stocks, every day for many years) seen this happen before! Its like they were snuck in the list with an edited time to correct something that didn't add up! I'm sure that the guys at the USXP offices would be interested in finding out why!
AM should be interesting here!
Rick
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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Well Dustoff Im sure there dilution in USXP, if for no other reason than they just paid out $4m to put down the deposit on the Pacific Jet Co. aquisition.
As far as those funky after hours trades and then adding 13.4m with a ficticious time attatched. That I find puzzling! It was however above the ask, as the ask is .0023 and those trades were at .0024
We'll just have to wait and see how L2 plays that out in the pre market
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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if i recall usxp did the same thing 2 years ago with north american airlines,usxp put in a bid boosted stock price,then it came to be that usxp did not have the cash flow for the purchase,i'm not putting down the stock but suggesting people to be careful,might be playing the same game lol to all make $
Posts: 32 | Registered: Mar 2004
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posted
Coalition for Luggage Security Applauds Japanese Experiment 8/10/05
NEW YORK, Aug 10, 2005 (BUSINESS WIRE) -- The Coalition for Luggage Security, a partnership of business leaders who are actively proposing structural reforms in the way baggage and cargo are transported, are requesting a dialogue on the part of our elected officials.
"These reforms are necessary now, in our opinion, for the security of the traveling public and the health of the transportation industry. As our Coalition is promoting long-term solutions, the Japanese government along with private industry is already in a testing phase," (see http://astrec.jp/en/) said Harvey Abelson, Coalition Coordinator.
"The Japanese experiment 'Hands Free Travel' began as a test to simplify the check-in experience. They quickly identified security as a major benefit when luggage is shipped separately from the traveling consumer," said Richard Altomare, Founder and Chairman for the Coalition for Luggage Security and CEO and Chairman of Universal Express, Inc., (OTCBB: USXP) based in New York and Florida.
"We are delighted to be a leading voice in this growing world-wide movement of safer innovative luggage handling. Our goal of encouraging Homeland Security, the Transportation Security Administration, and the Federal Aviation Administration to consider sharing information and testing has just been moved closer by the thoughtful actions of the Japanese government," concluded Mr. Altomare.
The Coalition has begun a dialogue with ASTREC and Home Security.
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: The Coalition for Luggage Security
Coalition for Luggage Security Harvey Abelson, 561-367-6177 habelson@usxp.com
Copyright Business Wire 2005
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Universal Express Partners With MARC USA in Luggage Express Branding 8/10/2005 10:08:01 AM NEW YORK, Aug 10, 2005 (BUSINESS WIRE) -- Universal Express Inc. ( USXP ) today announces it will be working along with MARC USA to implement marketing and advertising plans that will immediately impact sales and improve brand awareness for its subsidiary Luggage Express.
MARC USA, a national advertising and marketing firm who has worked with such companies as Moen, True Value, Mohawk Flooring, Procter & Gamble and Rite Aid Corporation has developed an integrated marketing communications plan including national media, direct marketing and interactive components to build brand awareness and drive sales for the Luggage Express Brand.
"The plan presented by MARC USA was impressive, thorough and creative. I am excited to see the plan in action as I am confident that it will take us to the next level. MARC USA proposes website revamps, media buys, and a wide variety of marketing initiatives to increase our sales and exposure worldwide. This new initiative will provide us with a forward moving opportunity in our expansion of hands free travel for a wide variety of travelers, helping to make Luggage Express a household name," said Cecilia Vesnesky, Director of Luggage Express.
"We're excited to be part of the Luggage Express marketing team and understand the vision of CEO Richard Altomare and the enormous opportunity for this Brand," said Jack Powers, Director of Client Services for MARC USA.
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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Nice, it's starting to budge from its static spot. If the information from all my close sources is accurate, this thing should SOAR real fast.
Posts: 242 | Registered: Aug 2005
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Well, I've been told by those who watch this company very closely that the trading shell agreement just completed is gonna be BIG. Expect a lot more volume and news coming in within the next 48 hours.
Posts: 242 | Registered: Aug 2005
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