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M.B.A. Holdings, Inc. Issues Open Letter to Its Shareholders Friday January 6, 8:00 am ET
SCOTTSDALE, AZ--(MARKET WIRE)--Jan 6, 2006 -- In response to the volume of communications we have received from shareholders in recent days, the following open letter to shareholders has been issued on behalf of the Board of Directors of M.B.A. Holdings, Inc. (OTC BB:MBAH.OB - News). Dear Shareholders,
Last year ended with your company facing challenges that may have frustrated your goal of share appreciation. More recently, in this brand new year you have observed the stock suffer a knee jerk reaction as some investors wrung their hands amidst rumor.
I am disheartened that our market sees fit to let our stock trade poorly at the mere suggestion of chat room chatter. If the market trades on innuendo, neither the Board nor I can do much about it for we do not operate on innuendo, but are instead guided by principles from which we do not waver and by which we have always intended to build this company.
These principles include:
-- Hard work -- Integrity -- Desire to help employees reach their individual goals -- Fairness -- Honesty
Business cycles change, employees come and go, stocks rise and fall, but some values are immutable: Hard work. Integrity. Desire to help others. Fairness. Honesty. These ethics outlive business cycles, attract like-minded employees, and create a foundation upon which a company can grow and obtain good shareholder value.
Vision is another core virtue we try to cultivate. Here is a summary of our vision for 2006:
-- An independent audit, to be released by months end, will confirm our fairness and shed light upon any individuals whose sense of integrity and honesty (or other principles) were not in harmony with our organization. -- It is our goal to anticipate market conditions and position the company to take advantage of opportunities created by foreseeable conditions. Although this is a difficult task, success in this area will help our business partners achieve their goals as well, and the resulting efficiency could get us to our ultimate goal -- a strong, profitable company -- much faster. To this end we will be opening several new rental stores in the next few weeks, and we will complete a new alliance for increased warranty sales. -- It is our mission to improve the balance sheet. The company's goal is to be profitable before year's end. In particular, we will concentrate on improving the profitability of our existing rental locations, during the peak rental season. Achieving this goal allows us to reward employees for their hard work and to grow the company even more in order to reward our loyal shareholders.
In closing, the Board and I would like to acknowledge our business associates, our employees and our steadfast shareholders for their hard work, thoughtfulness, honesty, and support and thank them in advance for their continued commitment to our shared goals and values.
Thank you.
Gaylen Brotherson gaylenb*mbadirect.com The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports, and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.
-------------------------------------------------------------------------------- Source: M.B.A. Holdings, Inc.
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