DD and a good possible candidate this week *SHCC* (formerly WOTD)
They have 11 days left of the 90 days on Eclipse Energy deal, a PR is
imminent. The PR announcing the deal was March 30, 1999.
Excerpt from Fridays PR:
"The company has executed a definitive agreement with an internationally
recognized carrier to provide long distance services. More details of this
contract will be available in the near future. "
Lots of rumors who this company may be (QWST)? QWST is trading at $37
15/16.
All this information can be found at www.wotd.net
Most of this is excerpts from past PRs.
Also, lots of information on Raging Bull Message Board. www.ragingbull.com
Be careful who to believe Roslin is very knowledgeable, I am Investorbb.
Capitalization (Common Shares) Authorized Shares: 50,000,000 shares Common
Stock Issued & Outstanding: 42,232,260 shares (est.) Held in Escrow:
2,000,000 shares Insider Control: 16,250,000 shares
SHCC previously WOTD.
Old Information on WOTD:
Western Oil & Tire Distributors, Inc. (WOTD) has implemented a growth by
acquisition business consolidation (or "Roll up") plan targeted at the
retail and wholesale tire business and the petroleum product sales and
distribution industry. Such niche commercial product lines are considered
essentials by a growing consumer base. Sales demand is increasing as the
automotive and mobilized commercial equipment after-markets continue to
grow. The Company's initial target areas are the Western US (West of the
Mississippi), Western Canada and selected areas of the Eastern US.
WOTD Strategic Components
The Company's growth strategy is based on acquiring successfully-run
independently-owned businesses. WOTD's strategic goal has two components:
1) Acquire existing Retail Tire stores and Wholesale Tire Distributors and
2) Acquire existing Wholesale Petroleum Product Distribution operations.
The petroleum product businesses targeted typically have high annual sales
volumes with low but consistent profit margins, while the targeted tire
businesses have higher profit margins (10% - 15%) and generally average $1
million per year in revenue per retail outlet.
The current popularity of business consolidation and the high level of
interest from both business sellers and the capital markets are providing
WOTD the impetus to accelerate its growth by acquisition efforts.
Western Oil & Tire is not inventing something new, nor are we underselling
the marketplace. WOTD is a growth by acquisition company targeting
profitable, independently-owned companies that are successful market
leaders. Realizing the power and value that brand recognition brings with
a leadership position, we will not be changing the names of the acquired
businesses
WOTD is committed to growing the Company by consolidation of smaller
successful independent operators and has targeted $100,000,000 in revenues
by December, 1999. The Company has been most gratified by the overwhelming
acceptance of their business plan by the industry and to date WOTD is
currently negotiating acquisitions of relevant businesses whose annual
revenues exceed $100,000,000.
Petroleum Product Distributor Acquisition
In accordance with its strategy and plan to grow by acquiring existing
petroleum product distributors and wholesale and retail tire businesses
with proven positive operating results, Western Oil & Tire Distributors,
Inc. ("WOTD") announced today that it has reached agreement in principal
to acquire a Western United States based petroleum product distributor.
The parties have entered into a Letter of Intent which sets forth major
terms and conditions of the acquisition and are in the process of
conducting due diligence and negotiating other terms and conditions to a
final agreement.
This fourteen (14) year old business not only would provide WOTD with an
established $45 million annual petroleum product revenue base, but also
would provide WOTD with a heavily experienced executive level and general
management team to direct and operate WOTD's petroleum product division
and compliment the Company's growth by acquisition plan.
This is the second acquisition candidate signed by the Company. Total
sales of both companies are in excess of $48 million.
The Company plans to continue negotiations with other acquisition
candidates located in Western United States and Canada with a goal of
closing 4 to 6 acquisition representing a revenue base of $100 million or
more by December 1999
1. International Internet Petroleum & Tire Distributors, Inc
2. Eclipse Energy
3. Internet Interview Inc.
4. ???
Formation of a New Subsidiary ("IIPT")
The Board authorized the formation of a wholly owned subsidiary
corporation to be named International Internet Petroleum & Tire
Distributors, Inc. (IIPT) into which the Company plans to transfer the
rights to the trade name "Western Oil & Tire Distributors, Inc", the
business plan and other accounts relating to the petroleum product and
tire distribution project. The slate of officers and directors planned for
IIPT includes highly experienced executive level management team members
who currently own and operate successful petroleum product and tire
businesses.
Spin-off of the WOTD Project to the Company's Shareholders
The Company's new strategic focus includes transferring the ownership of
IIPT to its shareholders in a spin-off transaction whereby the
shareholders of the Company will receive shares in IIPT by a stock
distribution proportionate to each shareholders' interest in the Company
at time of such distribution. The Company's shareholders will own stock in
two companies upon completion of the planned spin-off of IIPT.
IIPT will be directed to focus on the petroleum and tire distribution
business consolidation ("roll-up") plan. IIPT's corporate financing plan
includes future application to become a separate publicly traded company.
Two companies targeted for initial acquisition by IIPT represent an asset
base of over $7 million with reported annual sales for 1998 in excess of
$40 million |
