| Anyone know about this company? Looking at the charts, it's been a fairly steady stream of ups and downs and now seems to be in a good buying cycle. I am a little concerned about the news release below having a MM as a financial advisor. However, the stock has kept up it's regular ebbs and flows since and the news release come out fairly regularly and it seems to move the stock accordingly for the most part. I also recently heard an interview on Traders Nation exposing this stock even more. Any opinions?
Military Resale Group Adds Key Advisors To Its Team
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--March 6, 2003--Military Resale Group, Inc. (OTCBB-MYRG), on March 6, 2003 Military Resale Group, Inc. ("Military Resale" or the "Company") announced that it has engaged M. H. Meyerson & Co., Inc. (NASDAQ:MHMY) ("Meyerson"), a New Jersey based registered securities broker-dealer, to act as its financial advisor, investment banker and placement agent and provide Military Resale a broad range of financial advisory and investment banking services.
Meyerson, founded in 1960, is a full service registered securities broker-dealer and member of the NASD with seven separate divisions that support a full range of activities to include: wholesale trading, institutional sales, fixed income services, syndicate, retail services and investment banking. An industry leading market maker in NASDAQ and OTC securities, Meyerson ranked among the top twenty firms in share volume at the end of 2002.
Ed Whelan, Chairman of Military Resale stated, "we are delighted to have Meyerson join our team. Our growth and expansion plans require that we have access to a broad range of financing alternatives, and we believe that the professionals at Meyerson are well suited to supporting us in this endeavor."
John P. Leighton, Co-Chairman, Chief Executive Officer and President of Meyerson, believes that "our position in the market, combined with Ed and his team at Military Resale, provides both companies with the right blend of skills to take advantage of this growth opportunity in the military distribution industry. We look forward to being a key part of the group's expansion".
Military Resale is a regional distributor of grocery and household items specializing in distribution to the military market. It distributes a wide variety of items, including fresh and frozen meat and poultry, seafood, frozen foods, canned and dry goods, beverages, dairy products, paper goods and cleaning and other supplies. Its operations are currently directed to servicing the commissary at each of six military installations located in Colorado, Wyoming and South Dakota, including the Air Force Academy located in Colorado Springs, Colorado. Military Resale is approved by the Department of Defense to contract with military commissaries and exchanges.
Military commissaries are large supermarket-type stores operated by DeCA to provide grocery items for sale to authorized patrons at the lowest practicable prices in facilities designed and operated under standards similar to those in commercial food stores. As of May 2002, there were 281 commissaries worldwide, of which 176 were located in the Continental U.S. and 105 were located overseas. Commissaries are authorized by law to sell goods only to authorized patrons, which include the approximately 1.4 million active duty U.S. military personnel, their dependents and certain authorized reservists and retirees. As of May 2002, these authorized patrons totaled approximately 13.7 million individuals. Annual worldwide commissary sales totaled more than $5 billion in the year ended September 30, 2001.
Management at Military Resale has over 50 years of experience servicing the military markets. The Group's annual sales (unaudited) for the year ended December 31, 2002 were more than $6.3 million, reflecting nearly a nine-fold increase from $750,000 in its formation in 1997.
SAFE HARBOR PROVISIONS
Some of the statements contained in this press release discuss future expectations, projections of sales, results of operations, financial conditions or licensee production or state other "forward-looking" information (as defined in Section 21E of the Securities Exchange Act of 1934). Such information can be identified by the use of "may," "will," "should," "expect," " anticipate," "estimate," "continue," or other similar words. These statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contemplated by the statements. When considering such forward-looking statements, the reader should keep in mind these risk factors and their possible implications. Because the Company's common stock is considered a "penny stock" as defined by the regulations of the Securities and Exchange Commission, the safe harbor for forward-looking statements does not apply to statements by the Company.
The Company believes that the information contained in its press release was accurate as of its date of publication. The Company disclaims any obligation to update information it has released. Certain pages of this release may appear on a website which contains links or frames to sites operated by third parties. The Company assumes no responsibility for the accuracy or completeness of information on such third-party sites.
CONTACT:
Military Resale
Mr. Ethan D. Hokit, 719/391-4564
Ehokit@militaryresalegroup.com |
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