posted
Great possible investment. Possibly aquire and own 40% of Microcars in Sri Lanka (That country's FIRST automobile - with the engineer/owner at the helm a previous VW engineer).
DD: -------------------------------------------------------------------------------- ----------------- Centrex, Inc. Signs LOI to Form Business Development Partnership with MicroCars, Ltd.
By BusinessWire Last Update: 6/15/2006 9:00:09 AM Data provided by
SAN DIEGO, Jun 15, 2006 (BUSINESS WIRE) -- Centrex, Inc. (Pink Sheets:CTXI) today announced that it has signed a nonbinding letter of intent to create a partnership with MicroCars, Ltd., a Sri Lankan company, to open new markets for the assembly of automobiles, vans and trucks.
Established in 1995, MicroCars, Ltd. is the only automobile manufacturer in Sri Lanka, featuring a line that includes a sedan, a coupe, a minivan and a four-wheel-drive pickup truck. Created by Dr. Lawrence Perera, previously an executive engineer at Volkswagen in Wolfsburg, Germany, MicroCars offers a cost-effective system for assembling quality cars using local labor and available local materials. The manufacturing plant is currently assembling about 60 cars a month, but its capacity is nearly ten times that number.
Stated Jeffrey Flannery, CEO of Centrex, Inc.: "The MicroCars system is a great opportunity for a developing country to establish a low-cost automobile. What is most impressive is the outstanding quality of these vehicles. From performance and handling to attention to design details, Dr. Perera has created a great line of automobiles. These innovative assembly plants offer local employment and training in many useful areas. And then there is the strong sense of pride when a country such as Sri Lanka can boast of producing its own quality automobile."
Compared to fully automated plants that cost hundreds of millions of dollars to build, a MicroCar facility can be established for a small fraction of that cost and be fully operational in three to six months. A plant on 2 to 3 acres of land can produce up to 6,000 cars per month and generate more than $20,000,000 in annual revenue.
The MicroCars manufacturing system has attracted strong interest from several countries seeking to create a local industry. Centrex, Inc. will help MicroCars evaluate and implement these business opportunities as well as help structure the business relationships with these other countries. The LOI also provides Centrex with an option to acquire up to 40% of the common stock in MicroCars.
Added Flannery: "Once we have completed our due diligence, we hope to expand this innovative manufacturing program to at least two other countries during 2006."
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of CTXI are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature; which depend upon or refer to future events or conditions; or which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings, or growth rates), ongoing business strategies or prospects, and possible future CTXI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and CTXI has no specific intention to update these statements.
Jeffrey W. Flannery has been a director of The Jackson Rivers Company and its President, Chief Executive Officer, Chief Financial Officer, Treasurer and Secretary since August 31, 2005. Mr. Flannery brings extensive experience in business development and fiscal management to these positions with The Jackson Rivers Company. He is currently serving as (i) President, Chief Financial Officer, Secretary and Director of Axia Group, Inc., a development stage company and (ii) Chief Executive Officer and Chief Financial Officer of Centrex, Inc., a company which is commercializing a patented technology for biochemical detection systems. Previously, Mr. Flannery was the founder and Chief Executive Officer of Enhanced Information Systems, Inc., an online home health care provider for the pharmacy industry, Vice President of Development for IUSA, an information technology company, and Vice President of Corporate Communications for Center For Special Immunology, a public company dedicated to medical treatments for immune disorders. As President of FLC Partners, Inc., an investment banking services company, Mr. Flannery has provided financial consulting and business development services for many public and private companies. Mr. Flannery received his B.A in Philosophy from the University of California Los Angeles.
Center For Special Immunology - UNKNOWN --> Lots of Hits for "Center For Special Immunology", but nothing that specifically indicates Jeffery W. Flannery as part of them.
FLC Partners, Inc. - UNKNOWN --> Lots of Hits for "FLC Partners", but nothing that specifically indicates Jeffery W. Flannery as part of them.
-------------------- "Sometimes I lie awake at night, and ask, 'Where have I gone wrong?' Then a voice says to me, 'This is going to take more than one night.'" - Charlie Brown (Charles Shultz)
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posted
Why was there a high volume today? Anyone thinks the pps will be taken down again on low volume like what had been in the past few days prior to today?
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