posted
James Monroe Capital Negotiating Acquisition of Taylor Moffitt, LLC Monday May 22, 8:30 am ET
CHICAGO--(BUSINESS WIRE)--May 22, 2006--Commonwealth American Financial Group, Inc./James Monroe Capital (Pink Sheets:CWFG - News) today announces that it intends to complete the acquisition of Taylor Moffitt, LLC, a real estate investment company. Because of price and ownership, the deal resembles what amounts to a reverse merger. ADVERTISEMENT
Taylor Moffitt, LLC, an Iowa company, presently holds title to 10 properties: six 2-bedroom and three 3-bedroom rentals, and joint ownership of a warehouse building. McGovern and Taylor Forrester Moffitt have yet to decide what will be done with the three vacant properties, and the warehouse. Most likely the warehouse will go to Moffitt, since he stores his personal property there. Incidentally, that personal property includes a Rolls-Royce and convertible Hummers which Moffitt and has used as collateral to borrow money on a 1 year balloon loan at 100% interest from a private party, to invest in James Monroe Capital. Vacant houses will not be rented, but will be liquidated for capital that James Monroe Capital will leverage on a pending deal.
Moffitt commented, "We're planning something big that we have yet to unveil. The equity in Taylor Moffitt, LLC will be leveraged as seed money on a large arbitrage deal with 100% financing. I am really committed now. If James Monroe Capital doesn't succeed, I'm going down with it." The acquisition terms of Taylor Moffitt, LLC should be finalized within one week.
The company has posted pictures of the Punta Uva resort development property on its website, at www.jamesmonroecapital.com.Posts: 1364 | From: Somebody from Europe | Registered: Sep 2005
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you would think with over a half billion shares traded. it would be at a higher pps.....
Posts: 78 | From: FL | Registered: May 2006
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Why is that? I don't see this moving higher with a 15 billion float. Either a RS is coming or stock buy back...
Posts: 1364 | From: Somebody from Europe | Registered: Sep 2005
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Investors don't care that Monroe bought some rich dude's over-sized garage that has a couple of luxury vehicles. Their PR's are getting a little fluffy.
-------------------- The more weedsmoke I puff the more dangerous... Posts: 122 | From: West of Nashville | Registered: Apr 2006
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If this goes to .0003 i think i would faint.I am looking at high volume and staying at .0002 and maybe head back down to .0001.
Posts: 1086 | Registered: Oct 2005
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quote:Originally posted by Persia: Everybody lost faith?
Hi Persia,
I still have faith. I added more shares as well. What do you think about this stock? Do you believe it has a chance to make a legitimate run?
Posts: 711 | Registered: Feb 2006
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To be honest Chris, 15 billion float needs a lot of buying to make the run. Having said that, this new management seems to know their business. It's a waiting game, first the symbol change, then killer PR's. I've been in this since september 2005 and still holding. I only want my run... Posts: 1364 | From: Somebody from Europe | Registered: Sep 2005
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quote:Originally posted by Persia: To be honest Chris, 15 billion float needs a lot of buying to make the run. Having said that, this new management seems to know their business. It's a waiting game, first the symbol change, then killer PR's. I've been in this since september 2005 and still holding. I only want my run...
I agree. I like the management team and they seem to be heading in the right direction. That being said, like you mentioned the float is holding us back.
I wonder if they consider a stock buy back to help increase the price. If this thing could run half as much as USXP or RSHN then we would be golden.
Posts: 711 | Registered: Feb 2006
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There have been runners with that kind of float before, but it takes a long time to get started and it has to keep investors interest. Not an easy thing to do in penny land. It will take the most time just to get past the 0001 to 0002 flip.
-------------------- I just want to make enough money to be eccentric. Posts: 2412 | From: Atlanta | Registered: Aug 2005
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All of this is paraphrasing... McGovern alluded to a few things in his personal letter to shareholders about pps, some of his initial deals. He's a witty guy - quick transactions, meeting in resort area, etc. He even got value when he picked up this cheap pink with current shareholders.
If you read that letter, it 'implies' that he can't worry about pps right now. This is the time to get in, close the door, and fasten your seatbelt. I'm down for that.
All my stocks have nicknames because the symbols change so much, cwfg is informally dubbed 'jackrabbit'. pps will either take care of itself, or jackrabbit will have to tend to it later. Interesting company/peeps.
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This guy has a feel for investors right to the jugular with a casino! You could hear a collective gasp in the investor community. (I mean really look at this volume.) Whats next some sort of high profile highrise?
Forget about the other guy "Never underestimate this guys greed!" Quote from Scarface the movie. Well similiar anyway.
Posts: 90 | From: NJ | Registered: May 2006
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wow - someone must know something.A billion traded in first 5 minutes.I wonder if this is a buyback.
Posts: 1086 | Registered: Oct 2005
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Whatever it is, it's still ongoing. Maybe we're "just" in the scope of some more investors? bellwetherreport did some PR again.
Posts: 399 | From: Dubai | UAE | Registered: Sep 2005
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-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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