CALI Holdings, Inc. Signs Letter of Intent 10/6/2005
ORLANDO, Fla., Oct 06, 2005 (BUSINESS WIRE) -- CALI Holdings, Inc. (OTCBB:CALI) announced today that it decided to strategically focus its best business efforts on financing the recovery of the cargo from shipwrecks that are valuable for both their historical and cash values.
Management performed extensive due diligence on the fundamentals of this unique business sector and specific recovery sites to evaluate the financial benefits for its shareholders. It was determined that there is room for significant improvement in earnings per share for stockholders by addressing some fundamental business issues that can establish some stability in ocean cargo recoveries and position CALI as the worldwide leader.
To date, the industry has been constrained with limited inventory, legal issues, and the costs of researching and locating valuable opportunities for recovery. Since capital investment has not been aligned with efficient recovery, poor and unsustainable ROIs are common. Many companies have made significant equipment and technology investment without supporting the investment with solid business techniques including project flow, risk mitigation and an organizational structure that will allow for scaling of the business. CALI will address these issues through acquisitions and the addition of experienced management.
CALI's analysis shows that there are billions of dollars of lost cargos that can now be economically recovered because of new technological breakthroughs in site sensing and deepwater recovery, developed primarily for the offshore oil industry. Other publicly traded US companies in cargo recovery include Odyssey Marine Recovery at $4.00 per share (AMEX:OMR) with a market capitalization of approximately $170 million and Admiralty at $0.15 per share (OTCBB:RUBM) with a market capitalization of approximately $8 million.
CALI has signed a letter of intent to acquire a company with extensive experience and is currently funding the recovery of cargo from several important shipwrecks. CALI plans to finish spinning out its other businesses in order to focus the Company exclusively in cargo recovery to provide its shareholders with a maximum return on investment.
About CALI Holdings Inc.
CALI Holdings Inc. is a Business Development Company under the Investment Act of 1940 aggressively seeking opportunities in emerging and fast growth industries. http://www.caliholdings.com
posted
Maybe but I have a bunch Cheap and am loving this right now! Keep on moving!
Posts: 333 | From: Cullman, Al | Registered: Sep 2005
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You guys better take another look at this because any major acquisition coming in here with this O/S (Outstanding as of September 18th, 2005 432,030,283) Will launch this puppy! Not to mention it hinted at spin offs of curent assets in the same PR! The carrots are in the salad and ready for dressing!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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CALI???? You've gotta be kidding me. I see on OTCBB.com that the O/S IS listed as 432,030,283. With CALI's death spiral I was certain that it would be in the billions. I guess I was wrong.
I would still be very very careful. CALI has left a VERY bad taste in my mouth. I lost 50% before I got out of this one. I see PPS isn't really moving much. You gotta admit that "looking for treasure lost at sea" sounds like a re-hashed scam from the early 1900's.
-------------------- All of my posts are based on my opinion. My opinions are based on the info available to me at any given point in time. Do your own DD and see if you concur. Posts: 820 | From: Phoenix | Registered: Jul 2005
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Theres big money in the salvage buisness! Anyone know what the engine and steel from a downed ship are worth! $400-$500k for the engine from a large ship! We aint talkin sunken treasure here. We are talking nuts and bolts salvage worth millions! There also right about the technology having improved tremendously! Looks like candy from a baby at the moment to me!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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rickpic I have seen you make some really good calls around here. What is your honest to goodness thoughts about this stock and the news that is going with it?
Posts: 333 | From: Cullman, Al | Registered: Sep 2005
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I see only green here when the name of the acquisition is revealed and I take it from the PR that a spin off is in order as well! There sitting at about 1/8 of there asset value right now with a market cap that does this company no justice at all! Looks to me like the MMs were in the process of writing this one off and they just got caught in there own game!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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posted
Wish I had some free fnuds, this thing has been up 20% then down, then up then down. I would have made a bundle in just the last hour!!!
-------------------- I'm not going to comment further, as I refuse to get into a battle of wits with an unarmed person.... Posts: 546 | From: Columbus | Registered: Aug 2005
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Answer me this, why is this thing just sitting there? Is it a coiled spring ready to bounce? I liked it better right after the news!
Posts: 333 | From: Cullman, Al | Registered: Sep 2005
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CALI Holdings, Inc. Signs Definitive Agreement with Marine Exploration Company Business Wire - October 20, 2005 09:20
ORLANDO, Fla., Oct 20, 2005 (BUSINESS WIRE) -- CALI Holdings, Inc. (OTCBB:CALI) announced today that it executed and closed under a definitive agreement with Sovereign Exploration Associates International Inc. (SEAI), a marine exploration company headquartered in Pennsylvania. SEAI, a privately held company, was recently formed through the merger of Sea Research, Inc., and Artifact Recovery & Conservation, Inc. As previously announced, CALI Holdings decided to strategically focus its business efforts on financing the recovery of shipwrecks that have cargo of historic, archeological and intrinsic value. SEAI brings executive management, skilled recovery teams, equipment and agreements for twelve (12) sites containing over 15 ships of historic, archeological and intrinsic value. CALI Holdings has applied to change its name to Sovereign Exploration Associates International Inc.
The agreement involved the exchange of SEAI stock for 90% of CALI stock and pursuant thereto SEAI became a wholly-owned subsidiary of CALI. The new management team will be comprised of key individuals from SEAI. Robert Baca and Curtis Sprouse of SEAI will assume the CEO and COO positions effective immediately. SEAI's web site is under development. Future announcements on the SEAI web site will address current site operations, artifacts recovered to date and future projects.
About CALI Holdings dba Sovereign Exploration Associates International, Inc.
CALI Holdings doing business as Sovereign Exploration Associates International, Inc. is a Business Development Company under the Investment Act of 1940 undertaking shipwreck exploration and recovery initiatives.
Safe Harbor
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the failure of the ships to contain cargo of historic, archeological or intrinsic value, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
SOURCE: CALI Holdings, Inc DBA Sovereign Exploration Associates International Inc.
Sovereign Exploration Associates International Inc., Newtown, Penn. Curtis R. Sprouse, 781-245-7773 ext. 103 Fax: 781-245-7774
Copyright Business Wire 2005
-------------------- "As long as there are dreamers, there are dreams that will come true." Posts: 862 | From: CT Yankee..... in FLA | Registered: Aug 2005
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