ActionView International, Inc. Announces Letter of Intent for Acquisition Transaction With Jim Palmer Trucking, Inc.
Market Wire "US Press Releases "
VANCOUVER, BC -- (MARKET WIRE) -- 05/12/08 -- ActionView International, Inc. (OTCBB: AVWI) today announced that the company has entered into an initial agreement in the form of a letter of intent for an acquisition transaction with Jim Palmer Trucking, Inc., a leading transportation company headquartered in Missoula, Montana. Jim Palmer Trucking was established in 1966 with one truck and has grown into one of the premier refrigerated carriers in the United States. Jim Palmer Trucking operates in 44 states and maintains a fleet of 350 trucks and 500 trailers.
Jim Palmer Trucking's top five customers by percentage of revenues include Anheuser Busch, the Kroger Co., Coors Brewing Company, C.H. Robinson Worldwide, and Tyson Foods. In addition to its headquarters in Missoula, Montana, Jim Palmer Trucking has terminals in Salina, Kansas and Denver, Colorado. Jim Palmer Trucking also has drop lots located in Fontana, California; Tampa, Florida; Portland, Oregon; Wenatchee, Washington; and Chicago, Illinois.
The initial agreement in the form of a letter of intent provides the framework for a subsequent definitive agreement under which ActionView International would acquire all of the issued and outstanding shares of Jim Palmer Trucking, Inc. in exchange for a majority percentage of ActionView International. The details of the proposed share exchange will be included in the definitive agreement.
The letter of intent outlines additional due diligence, audit work and other terms that must be fulfilled to proceed to definitive agreement and to subsequently effect a close of the transaction.
The post merger plan for Jim Palmer Trucking includes a potential acquisition strategy, the addition of new members to the management team, and the development of additional business lines within the trucking industry while maintaining and growing existing accounts in its core business.
"Jim Palmer Trucking is a mature company with substantial revenues and a solid strategy for additional future growth, and we are extremely pleased to have reached an initial agreement for an acquisition transaction," stated Steven R. Peacock, president/chief executive officer of ActionView International. "We look forward to the completion of the ongoing due diligence and moving to a definitive agreement with Jim Palmer Trucking once the terms of the letter of intent have been met."
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****** Posted by: dirtdealer In reply to: None Date:5/15/2008 6:54:06 PM Post #of 3756
READ PLEASE:
I spoke again with Lonnie- (President) at Jim Palmer Trucking. This deal could be huge for shareholders of ActionView.
Acquisition is going to be done with restricted shares. He said Co. revenues in the 30-40 million range. Would not give me to much specifics. Said that things should be PR’d and the deal closed real quick… The stock prices will jump through the roof. How often do you find an OTCBB company with 30+ million in revenues. Acquisition is a cheap way for JPT to go public and mgt there will retain mgt functions etc.. That all for now..
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Most merger deals will run to market cap of 6 M$. The current Market cap is only 600 K$. Last run is only a small pop for the real run. The PR campaign will start tomorrow. Don't play it, just watch it.
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the # are good but there is this info that is bad
Subsequent to March 31, 2008, a total of $52,500 in cash advances made by the former director was repaid under a court ordered issuance of 748 million shares of common stock.
(at 0.00007 x share ???)
if they issued 748m + 215 already in the float with 1B AS is close to be maxed
quote:Originally posted by cautionupahead: Be careful with this one, 10Q just came out, it's horrible, Steven Peacock strikes again.IMO
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They case is pending and the stock shares are held in an escrow account. They will settle the case by paying back before the merger deal. The OS: 330 M shares; the insiders hold 75 M.
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Posted by: ThePennyGuru In reply to: None Date:5/16/2008 12:03:12 PM Post #of 4042
One thing I have learned in trading pennies- The stocks run when the mm-s want them to. I think the bullrush from .0011 to .004 caught some MM-s with no shares and they are balancing their books. I see this going up next week. Remember to buy on dips
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Expecting news next Monday. **** This is the MMs' game - don't play it. **** Posted by: ThePennyGuru In reply to: None Date:5/16/2008 1:24:38 PM Post #of 4078
I had 100k at .0022- they filled 10k and moved up
**** This is a merger play, the new company had a great rev for 2007.
2007 Revenues $72,000,000 confirmed by the company.
****** Posted by: marketphile In reply to: None Date:5/16/2008 1:00:18 PM Post #of 4058
MUST READ: I called JP Trucking
I spoke to Lonnie Wallace (President of JP Trucking) and asked the following questions...
1) What were your annual revenues for fiscal year 07 and what are projected revenues for fiscal year 08?
Wallace: We did $72M in 07 and are on track to do about $76M in 08.
2) Which investment banker is handling this transaction and why did you choose Actionview as your shell?
Wallace: The reverse merge is being handled by Palmer Securities (not affiliated with JP Trucking) and we had no particular reason for choosing the Actionview shell as our vehicle for going public. We decided that we wanted to go public so our investment banker found Actionview. We simply went out and purchased an available shell.
3) Why did you decide to go public now?
Wallace: It's something that we've been wanting to do for quite some time now.
All of this information can be independently verified by calling JP Trucking yourself. The two most important pieces of information that I took away from the conversation are that revenues continue to rise ($72M last year and projected $76M this year) and that the deal will almost certainly go through (his comment stating that "We simply went out and purchased a shell").
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Great day! Wasn't really sure what to expect for a friday, but held very nice and closed green! Alot of profit takers left us this morning and the weekend bailers should be gone....looking for a HUGE week next week!
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Just remember that the MM's can sell pennies short and YOU CAN'T !! Also, watch out for the classic R/S BEFORE the R/M. If you're going to play this play it right and jump in AFTER any R/S.
Tip: it's usually the R/M that say NO R/S that will R/S!
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For stocks under 0.002, the MMs will not make much money thru short selling. However, they can make a lot of money by accumulating shares at bottom, and unloading them by a 10X run, especially when a merger deal is involved.
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This stock is very interesting, a big block of the OS is in an escrow account under court supervision. That makes the court a protector of the share holders. If you find any party is unfair, you can complain to the judge, and the merger deal must be fair to all parties.
The ceo is not diluting, if you have any evidence of diluting, please let me know and I will report it to the judge.
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I'm still watching, and laughing, since it was pumped hard at .0024 Now at what, .0016? Hmmmmmmmm... Will the real paid pumper pleeeeeze stand up!...LOL Not that this won't run. I just don't wanna add to any MM shorts. It does have potential IF the MM's will turn it loose.
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The MMs are showing the true bids now. They used to hide the true bids and make a huge gap between Bid/Ask to discourage buyers. So it looks like they are about to let her go when a good PR comes. Watch it.
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0.0017 AVWI may behave like IVOI - the confirmation PR will come and she will run. The merger into a 72 m$ company is not the average merger deal in the past. Watch it. IVOI: ran from 0.0011 to 0.011 in one day when the dividend was cleared from the SEC.
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