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Prevention Insurance Agrees to Merge With an International Pulp and Paper Manufacturer and Distributor Mar 22, 2007 10:46:00 AM
LAS VEGAS, NV -- (MARKET WIRE) -- 03/22/07 -- Prevention Insurance (OTCBB: PVNC) announces that the merger discussions with their last merger candidate did not produce a Letter of Intent. However, Prevention Insurance has agreed to merge with Shanghai Senyin Development Company (SSDC) which is a manufacturer of pulp and paper products distributed throughout the world. SSDC has revenues in excess of $50 million USD and above average industry profits. Prevention Insurance feels that SSDC is a perfect fit that will provide a solid platform to grow international sales from. Prevention believes that the merger could be consummated in the next 45-60 days providing that all audit and regulatory requirements are met.
About Prevention Insurance:
Prevention Insurance is a public insurance holding company that is in negotiations to merge with opportunities that will help the company expand into the global markets.
Safe Harbor Statement:
Forward-looking statements and comments in this news release are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements regarding potential future plans and objectives of Prevention Insurance are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond Prevention Insurance's control. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially depending on many factors, including those described above. Prevention Insurance cautions that historical results are not necessarily indicative of the company's future performance.
Contact: Prevention Insurance Scott Goldsmith (702) 732-2758 Email Contact
Posts: 2473 | Registered: May 2006
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I dont have any clear funds will have to see what it does , maybey will still run in the morning will have cleared funds tomorrow..
Posts: 1986 | From: Florida | Registered: Mar 2006
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Sweet move so far. The OS is only around 20mil according to filings. Should be fun roller coaster ride all day
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
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Posted by: RIGATONI In reply to: None Date:3/22/2007 2:00:03 PM Post #of 56010
~PVNC update...
Spoke with ceo Scott Goldsmith...
I asked about the new companies filings and from what I believe, they could be produced in the short term and the times frame in the PR regarding closing of the deal is a worst case scenario.
The float he believes to be around 5 million.
I asked about the companies web site and he said he would give it to me. I asked why he didnt include it in the press release and he said he didnt want them getting numerous calls to potentially screw the deal up.This was an issue with the prior LOI.I said I didnt need the web site at this time.Besides, its all in chinese.
No guarantees the deal with get done , but he seems confident it will be done timely.
I threw around the 50 million share count guesstimate on where we would be when and if the deal closes and I believe it much lower than 50 million.
I also get the feeling that the company coming into the shell, put a non refundable deposit down which would be good if its true.
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not much excitement here anymore about good picks i remember times whem stockpicks like this generated 20 or 30 pages a day is allstocks dying?
Posts: 2473 | Registered: May 2006
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Wonder what will happen today , I see a lot of profit takers running it down..
Posts: 1986 | From: Florida | Registered: Mar 2006
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there was no profit taking, a fake head fake. had an order in for .085 when the b/a was .076/.08 but still got no fill. they skipped my order and i finally got in at .10 lol
Posts: 4071 | Registered: Dec 2005
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impatient ones started bid whacking lol, it will go up. merger is a done deal we should here something soon imo
Posts: 4071 | Registered: Dec 2005
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Posted by: Zoom-Zoom-Away In reply to: None Date:3/23/2007 1:27:47 PM Post #of 274
PVNC Just talked to Scott. The Co Paid A non refundable retainer. They are way past a LOI. Audits from China expected today. Advanced word from China is All is in order. The Chinese Co paid alot of money for the correct filling that will be being made. The Chinese Co is in much better shape than even shows up in the audit and growing tremendously.A definative agreement is advancing rapidly-(looks like 30 day"s). Share structure is 20M O/S 5M float. Scott is considering going on Mn 1 radio between now and final areement. He has a dozen Chinese Co"s pounding down his door trying to R/M into his spotless shell. He sounded supremely confident and welcomes share holder calls-702-732-2758. Buckle up for Saftey. Going Definative is Imminent
Posts: 4071 | Registered: Dec 2005
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