Looking at the SB-2 filings and the news it is apparent that Village III is a vehicle to provide CIBT with a US listing quickly and at a very low cost. Spinning off a company onto the US through a brand new listing is normally a very timing consuming and costly processes, especially for a company like CPT/CIBT currently filing only in Canada. By merging with an existing US company, such as Village III, that has filed with the SEC and already received approval, CIBT get onto the exchange very quickly at a fraction of the cost. I have watched several Canadian companies struggle for years to get a new US listing and am pleased that CPT/CIBT have chosen this route since the faster we list the better it is for the share price.
In my opinion a company like Village III is a perfect vehicle to accelerate this listing process. It is a very tight structured company with few shares outstanding and according to the news the majority of the shares will be escrowed. Since the $1 million US (or greater) private placement will have an extended hold period the public float at the time of listing is going to be next to nothing (a few hundred thousand shares). With a float that low and an experience investment banking/promotion team at the helm I think we are going to be pleased shareholders.
Just doing the initial digging on Jack Augsback & Company
Jack Augsback & Company, LLC, were the investment banking firm that assisted CPT in their $2.32 million private placement closed on April 10th, 2000 (http://www.cag-global.com/news/00_0410.html).. This was first announced back in January so this group has been working with the company for a while now.
I did a series of searches on the firm and found them listed in numerous financial sites under Investment Banking/Venture Capital firms. For example:
businessbookpress.com
Jack Augsback and Associates - Investment bankers specializing in NASDAQ Small Cap and up companies in all phases of Corporate Finance, Mergers & Acquisitions and Strategic Planning.
Most of the sites give a link to their Internet site at vfund.com
According to the Village III SB-2 Acquisition filings on SEC.
Jack Augsback - For the last five years, Mr. Augsback has been President and Chief Executive Officer of Jack Augsback & Associates, Inc., Jack Augsback & Co., Inc. and Managing Partner of Jack Augsback & Co. LLC. . These companies are all in the financial consulting and investor relations business. Mr. Augsback graduated from Miami University with a Bachelor of Science degree in Economics. He received a MBA in Quantivie Economics from the Miami Graduate School of Business and MBAs in Finance and Economics from the St. Moritz University.
Mark Stys. Mr. Sts has been president and a director since inception. From April 1999 to present, Mr. Stys has been a partner and chief operating officer of Jack Augsback & Associates, an investment banking firm. From June 1998 to March 1999, Mr. Stys was vice president and a trade for Coastal Securities, a brokerage firm. From December 1993 to June 1998, Mr. Stys was vice president and a trader at Fidelity Capital markets, a brokerage firm. Mr. Stys was a major in the United States Marine Corps from May 1984 to September 1993. Mr. Stys obtained a Bachelor of Science degree in history from the United States Naval Academy in 1984. He attended an aviation safety manager course in 1992 at the Naval Postgraduate School. In 1993, Mr. Stys obtained a Master's degree in Management from Webster University.
bizjournals.com
October 28, 1999
“Jack Augsback & Associates CEO takes over
West Palm Beach-based Jack Augsback & Associates Inc., a middle-market investment banking firm, announced that founder Jack Augsback had assumed the position of chairman of the board and CEO. As such, he will oversee all the firm's lines of business, which are private placements of public and private equities; debt instruments, merger and acquisition transactions; and strategic joint ventures, both domestic and international. Augsback will continue his cultivation and coordination of the firm's longtime presence in the Pacific Rim, China and Europe.”
Also in the SB-2 Filings
Carolyn Stys - Mrs. Stys has been secretary and a director of Village since inception. From 1998 to present, Mrs. Stys has been director of operations at Jack Augsback & Co, an investment banking firm. From 1995 to 1997, Mrs. Stys worked as a business analyst at Fidelity Investments, an investment firm. From 1993 to 1995, Mrs. Stys worked as a client service officer at State Street Bank & Trust. Mrs. Stys attended from Trinity College from 1982 to 1985 with an economic concentration. From 1995-1998,Mrs. Stys attended Northeastern University with a marketing/systems concentration. Since 1999, Mrs. Stys has been attending the New York Institute of Finance in the Securities Analysis Program |
