LMRI - Big News Out - 73K float!!!
3rd great PR in the last 2 weeks - was close to $10.00 3-4 weeks ago.
Press Release
Logistics Management Resources Inks Letter of Intent to Acquire America's PEO, Omni Financial Services
LMRI Enhances Services Portfolio, Broadens Revenue Sources
LOUISVILLE, Ky.--(BUSINESS WIRE)--April 10, 2001--Logistics Management Resources, Inc. (OTCBB:LMRI - news) today announced plans to acquire the employee leasing operations of America's PEO, Inc. and affiliate Omni Financial Services, Inc. The Company expects the acquisitions to be accretive to 2001 earnings and in future years. Combined projected sales during the current year for the two acquired entities are approximately $155 million. Complete terms of the agreements were not immediately disclosed.
The acquisitions will culminate in the transfer of a combination of Company shares and cash. The consideration for the acquisitions will be governed under an incentive-scheduled four-year term beginning on the date of closing of the acquisitions. America's PEO and Omni Financial Services will become wholly owned subsidiaries of Logistics Management Services, and continue operations from headquarters in Cherry Hill, New Jersey. The acquisitions, which remain subject to due diligence, completion of definitive purchase agreements and additional customary conditions, are expected to be completed in the second quarter of 2001.
``Acquiring America's PEO and Omni Financial signals our immediate and determined entry into the employee leasing industry, an industry we are committed to leading,'' notes Dan L. Pixler, Chairman and Chief Executive Officer of LMRI. ``Through these acquisitions, we will possess solid foundations and tenured leadership in both the employee leasing and the transportation logistics industry markets which we targeted earlier this year. They extend our ability to respond to customer needs and establish multiple revenue streams in recognized growth segments.''
Logistics Management Resources Inc. (OTCBB:LMRI - news) is a holding company managing transportation related and employee leasing service businesses through its ``Total Logistics Management'' philosophy. Total Logistics Management includes end-to-end coordination of a client's domestic and international trucking, load matching, consolidation and warehousing requirements through all stages from planning through execution and delivery. The Company is also implementing a ``Selected Acquisition Strategy'' whereby it plans to engage in a series of synergistic acquisitions in the field of Employee Leasing Services. These services are heavily utilized in the transportation sector and will allow the Company's subsidiaries to better serve the overall needs of its clients. Logistics Management Resources Inc. is headquartered in Louisville, KY. More information is available by contacting LMRI at +1.502.339.4000.
Statements in this news release that relate to future plans, financial results or projections, events or performance are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent the management's opinion. Where management believes such representations to be true and accurate based on information available to the company at this time, actual results may differ materially from those described. In addition to the matters described in this press release, risk factors listed from time to time in the company's SEC reports and filings, including, but not limited to, its report on Form 10-QSB for the quarter ended Sept. 30, 2000 and its report on Form 10-KSB for the year ended Dec. 31, 1999, may affect the results achieved by the company |
