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Podium Venture Group Board of Directors Has Agreed to Acquire Capital Oil & Gas, Inc.
PR Newswire "US Press Releases "
HIALEAH, Fla., July 23 /PRNewswire-FirstCall/ -- Podium Venture Group, Inc. (OTC: PODM), announced today that its Board of Directors has approved the acquisition of Capital Oil & Gas, Inc. as a wholly owned subsidiary of Podium Venture Group.
Capital Oil & Gas operates retail gas stations with convenience stores under the Chevron brand; the company will have revenues in excess of $25,000,000 dollars per year.
"The company is extremely excited to complete this acquisition and will continue to add new locations on a regular basis; the company has already contracted additional locations that will add significant additional revenues and growth to our existing revenue stream," said Mr. Ariel Rodriguez, President & COO.
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Very nice move today. Most of these pink sheets will have at least a 3 day move. This looks like consolidation here...and move to the next level. Check this otc newsletter which picks hot stocks for the next day after a move... http://www.********.com/stocks-to-watch/index.phpPosts: 660 | From: california | Registered: Nov 2005
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Nice news today 7/24/08 Looks like this company is on the move. The PODM IHUB board is rocking also #3 today. The stock hit .004 yesterday and pulled back to .0015. Anywhere below .004 looks good for some nice gains with 9M float! Good luck... Capital Oil & Gas, Inc. Has Agreed to Acquire Three Additional Locations Jul 24, 2008 12:58:00 AM View Additional ProfilesHIALEAH, Fla., July 24 /PRNewswire-FirstCall/ -- Capital Oil & Gas, Inc. (OTC: PODM), announced today that it has agreed to acquire/lease three additional full service gas/convenience stations in Florida to add to its growing portfolio.
The company believes that these additional three stations will add an additional $18,000,000 to $20,000,000 million per year in revenues to its ongoing operations/revenue stream.
The company will pay for these acquisitions/leases from existing cash flow and will not impede on the capital structure of the company as management views any change in capital structure as counter productive.
"It is the intent of executive management to acquire/lease enough stations to generate a minimum of $100,000,000 million per year in revenue, with a potential profit margin of 8% to 10% per year overall, the company believes that it would then be in a position to become a fully reporting company and move to a more respectable venue," said Mr. Ariel Rodriguez, President & COO.
Posts: 660 | From: california | Registered: Nov 2005
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Here comes the next reverse split. They will give some baloney reason for it and say it is beneficial to the stockholders, blah, blah, blah and you will lose your money like others have more than once with this. The best indication of future behavior is past behavior. I am one of those "fortunate" stockholders who got caught trusting their hype. Their latest R/s, believe it or not, did not benefit those who bought their line and their stock. Beware of this. Another r/s is coming.
Posts: 196 | From: Tampa, FL | Registered: Mar 2006
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Must be a scam stock, because news has no affect on the pps anymore. There's nothing to look forward to on this one.
Posts: 1269 | From: Dallas, Tx | Registered: Mar 2007
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Very nice revenue news just out looks like it could really move here off the bottom...
Revenues Jul 30, 2008 11:23:00 AM View Additional ProfilesHIALEAH, Fla., July 30 /PRNewswire/ -- Capital Oil & Gas, Inc. a wholly owned subsidiary of Podium Venture Group, Inc. (OTC: PODM), today reported second quarter revenues.
For the second quarter the company reported revenues from operations of $6,840,126 (six million eight hundred forty thousand and 126 dollars) with net results of $684,000 (six hundred eighty four thousand dollars)
The company expects a significant increase in revenues for the third quarter as the month of July is showing an increase (to date) in revenues of approximately 28%; the company believes that these numbers will come in as projected.
The company believes the increase in revenues is due to the switch in brand names from Valero to Chevron and its lower than the competition pricing policies.
"We are very pleased the revenue numbers are much better then expected and believe with the additional outlets being added we should exceed all projected revenues for this year," said Mr. Ariel Rodriguez, President & COO.
About Capital Oil & Gas, Inc.:
Capital Oil & Gas operates retail filling stations/convenience stores throughout the State of Florida; the company is aggressively seeking additional acquisitions that can meet its financial criteria.
Posts: 660 | From: california | Registered: Nov 2005
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Still waiting for podm to switch over on my account. Scottrade said it came accross the wire backwards and didn't even get a quote up on cpog for some time. I am still expecting the normal 3 day clearing then we'll see if this puppy has anything left in it imo.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Yes raked in quite a bit of volume yest. Next week should be interesting.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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