Silverado Foods 918-742-7618 CEO: Lawrence Field CFO: Jason Bryan Float: 14M shares Insider Shares: 35% Business: Food
Assets: $0, shell company currently. Situation: Spun off all assets into a private company, Nonni Foods. Arrangement was for Nonni to pay SVFO $18M, and then more funds depending on Nonni's financial performance.
Nonni appears to be doing very well, and SVFO think that they'll get $11M from Nonni. They'll use the $11M to purchase another business.
Someone is buying SVFO. Gone from .06 to .15 is the past week. If they get $11M from Nonni, they have $.78 per share in cash to do an acquisition. |