DD Cobra Technologies OTCBB-CBRA
Wayne mentioned this one yesterday...
O/S: 8.9M
Float: ~4M... trades like much less...
Cobra Technologies, Inc. (OTC BB - CBRA) is an emerging growth company in the
fast growing field of information technology solutions. The company's goal
is to create and enhance shareholder value by acquiring and consolidating
businesses involved in computer systems design and integration, e-commerce,
Internet and Intranet solutions, and training. By acquiring, consolidating
and integrating established niche market businesses with a track record of
performance and profits, and by more tightly integrating their management,
technical strengths, and markets to achieve performance efficiencies, Cobra
expects to earn above-average returns on increasing revenues.
The cornerstone of the Company's business plan is management integration
and operational efficiency. By arranging acquisition financing and working
capital for acquired businesses, and by consolidating certain operations
and administrative tasks at the headquarters level, acquired businesses
will be better able to carry out their plans. Segments or operations that
prove to be non-synergistic will be disposed of.
Cobra Technologies Inc. is currently evaluating more than 50 privately held
businesses with revenues exceeding an aggregate of $500 million. The
company has signed letters of intent to acquire companies with consolidated
revenues of at least $50 million in calendar year 1999 and began executing the
business plan with the acquisition of pinneast.com
(http://www.pinneast.com). Cobra's mission is twofold: (1) to build
shareholder value through the acquisition of private IT service
companies focused on network integration systems, engineering and
solutions; and (2) assist and support client companies to effectively
utilize, manage and thereby achieve maximum benefit and advantage from
their IT capital investments.
Last month, Cobra announced an agreement to acquire 15 year old,
Tewksbury, Mass. based CMI (Computer Marketplace, Inc), completion of which
is expected before the end of August. The pending acquisition of CMI, a
network solutions provider and systems integrator, represents another
important step in the execution of Cobra's business plan of acquiring niche
market businesses on track for a growth rate of 50% or higher per annum,
servicing Fortune 1000 Companies. CMI released audited figures for last
year of $16 million with pre-tax profits of approximately $1 million.
CMI clients include AOL (NYSE:AOL), Lucent Technologies (NYSE:LU),
Hewlett-Packard (NYSE:HWP), Capitol One (NYSE:COF), Sodexho-Marriott
(NYSE:SDH) and many other companies, again representing a broad client
base of high growth companies.
See this news of 6 August: biz.yahoo.com
Cobra Tech in talks to acq Computer Marketplace, Inc... Look at cobra Website
at cobrainc.com ... the CMI logo is already there leading one to
think "it's a done deal".
Between pinneast.com and CMI, CBRA is looking for $17M in revenues and $4 in
profits this year. Other acquisitions are expected to generate (We will see)
$25-40M in revenue in 2000.
Company websites: Cobra Technologies, Inc. cobrainc.com
CMI: cminet.com
pinneast: pinneast.com
Please do your own DD... not a rec to buy.
Tom |
