Commonwealth American Financial Group To Acquire New Subsidiary To Finance Residential & Commercial Rehabilitation Sep 19, 2005 9:53:00 AM Copyright Business Wire 2005 ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Sept. 19, 2005--
Commonwealth American Financial Group, Inc. (Pink Sheets:CWMF) announces that it is acquiring a new subsidiary, Bimini Reef Real Estate Inc., whose mission will be to provide financing through a percentage working interest/joint venture scenario with contractors that have won bids from the private insurer sector on damaged residential & commercial properties. This subsidiary is being acquired to address the demand for this type of financing from individual contractors who are winning private residential & commercial projects and need various interim funding to complete the contracts.
This subsidiary will be separate from Hawkesbury River Funding of Texas, Inc. who is working on FEMA related projects. Hawkesbury River has received a FEMA approval contractor approval number from DHS-FEMA. Joint venture offers have been received and are being negotiated from architects, demolition contractors, and environmental health firms who also need partners to work in the rebuilding of the region.
While the mission of Commonwealth American Financial Group, Inc. is to invest in land development projects either as developer, joint venture partner, or lender to create mezzanine financing opportunities for architects, engineers, and demolition companies.
Damian Guthrie said: "The most recent number cited on CNN television was that the cost of reconstruction would be 400 billion dollars, and we see our plan as only one of assisting through financing the on going work."
The company will also grow by acquiring subsidiaries in related fields such as construction, real estate brokerage-appraisal-management in Florida, Texas and Louisiana. The Company has established a website http://www.cwmf.net and trades under the symbol (Pink Sheets:CWMF).
FORWARD LOOKING STATEMENTS: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to mange growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this issue.
Source: Commonwealth American Financial Group
---------------------------------------------- Commonwealth American Financial Group St. Petersburg Damian Guthrie 786-246-1077 Fax: 727-895-8735
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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This company is going to make so much money with financing and fema bids for all the construction. I am going to hold on to this lotto ticket.
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To give you an idea of how great things are going to be down there, my brother-n-law owns a small trucking company and has taken some of his trucks down there. He cannot go directly through FEMA he has to go through a major contractor. FEMA is not giving everyone a number- only the major contractors get one. That means that there will be more people under their umbrella doing contract work through them. Even working through this his trucks are making $100 to $150 for every load they haul. He told me that he should easily see 1 mil this year. Think about it CWMF has a contractor number, not only are they allowed to do things but all those that are not able to acquire a number would have to go through them or someone like them. This will be very big for them.
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I was going to sell going into the forward split but not now. The future is too bright and the free shares will be sweet icing on the cake.
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-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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posted
Rita is a TS at the moment, forecast has it entering the gulf and hitting TX. If it turns just like Katrina did(assuming it will be a hurricane) and heads in the direction of NO do you think it will have any effects on these contracts?
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As soon as Fema gives them the contracts, this stock is seriously going to explode upwards. I am now thinking that .002 is easily in the realm of short term possibilities. We are at .0005 so yes I do think we could go up over 4 times from here very soon. Did anyone see the poor guy who ended up buying today at .0035??? Ha ha that has to suck as he is going to have to wait until the stock climbs 7 times from where we are at. I do believe it will happen though!
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quote:Originally posted by jack85: Rita is a TS at the moment, forecast has it entering the gulf and hitting TX. If it turns just like Katrina did(assuming it will be a hurricane) and heads in the direction of NO do you think it will have any effects on these contracts?
Most definitely as FEMA will start handing out contracts left and right as they will respond very rapidly this time around. There is no doubt in my mind that we are sitting on a gold mine with CWMF!!!!!!!!!!!!!!
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posted
4(bid)x5(ask) 4(#ofmm on bid)x1(number of mm on as)
im thinking we are going up
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I know Guthrie has to be sighing after all of this. I bet he can't believe how this has fallen into place for him. I know I would be feeling good about myself and future seeing all of this happen for me.
Just curious as to some thoughts of how high this one could actually go. Thinking that the rebuilding could take years. The president has already said that paying the debt of this thing would take generations to pay off. Who has a guess on CWMF's future?
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posted
im just looking for .0010-.0020 short term, like i said before with that many shares o/s its hard for these co's to break the .002 mark
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ya never know , it almost hit .001 the first week, and if a contract comes in , plus the F/S 1 for 2 ,, well we will see.. lets all hope for the best.
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5x6 1x4 schb on the bid, off the ask to .0010
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posted
As to how high this one can go? Well you are right about taking years to rebuild. I think that the height of this will come from contract awards and acquisitions. If by chance this new company plays their cards right, long term growth could be very achievable. Not sure if the forward split will help or hurt though. Most likely in the short term, it will help gain recognition. GLTA
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Long term I think this company can become a dollar stock. 400 billion to rebuild the hurricane disaster zone and they will have a big part in it. Bottom line the stock is going to get noticed and well funded over the next few years.
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i wouldnt mind bailing most at 10, thats 5x my money back, we'll see how she looks, obviously 10x my money is better :-)
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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GLTA
