Ignored those for awhile, but I need a few of dem 10 baggers, so have begun looking at putting some recent profits into higher risk/rewards sub pennies
CRGO is one
LFWK chart and momo looks good, so I'll try to ride it out for some gains
Did just call Wayne Creasy's office.
Was told by woman who answered the phone that TCRS acquisition is still good to go.
Will be a double when finalized
Still sitting at .60 ask with a net book to hit 1.25
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Creasy Group Increases Investment Offer for TreeCon Resources Inc.
TUESDAY, NOVEMBER 22, 2005 4:25 PM
- BusinessWire
DALLAS, Nov 22, 2005 (BUSINESS WIRE) -- A group of investors headed by insurance executive Wayne Creasy has raised its offer to TreeCon Resources Inc. (Pink Sheets:TCRS) to US$25,000,000 in capital investment, which is $5,000,000 more than the previous letter agreement. TreeCon Resources, formerly known as Overhill Corporation, is a holding company that, through its subsidiaries, distributes, leases and provides financing for industrial farming and logging equipment and is also engaged in sawmill operations.
"Our new offer is based on the significant increase in revenues and net earnings by TreeCon Resources during the first nine months of their FY2005," said Mr. Creasy. "Our agreement with TreeCon also indicates that further increases in the offer may be necessary if the closing of the initial investment does not take place prior to the release of the company's year-end earnings, which is expected to be announced by December 23, 2005."
For the nine months ended June 30, 2005, TreeCon had gross revenues of $38,813,000, as compared to revenues of $32,993,000 for the nine months ended June 30, 2004. Net income was $2,082,000 or $0.11 per share for the nine months ended June 30, 2005, as compared to net income of $528,000 or $0.03 per share for the nine months ended June 30, 2004.
As part of the agreement, TreeCon will issue $25,000,000 in preferred stock with a dividend rate of 7%; the shares shall be converted into twenty million shares of TreeCon common stock. This investment will increase TreeCon's net book value to over $1.25 per share. There are several issues still to be negotiated and there is no assurance that the parties will be able to reach agreement on these matters.
"We asked TreeCon to bring current all SEC filings once the 2005 audit is completed at the end of this year," added Mr. Creasy. "Once completed, TreeCon's stock can qualify to be listed on a major exchange."
This release contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and intended to enjoy the protection of the safe harbor for forward-looking statements provided by that Act. Wayne Creasy Florida AP Partners and Investors disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise. These forward-looking statements are subject to risks, uncertainties and other factors, including, the cost of goods, competitive pressures, inflation, consumer spending patterns and debt levels, trade restrictions, changes in tariff and freight rates, weather conditions, changes in gasoline, diesel fuel and other energy costs, labor costs, health care costs and accident costs, interest rate fluctuations and other capital market conditions and other risks. We urge you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this release. As a result of these matters, including changes in facts, assumptions not being realized or other circumstances, our actual results may differ materially from historical results or from anticipated results implied in the forward-looking statements contained in this release. These forward-looking statements are made only as of the date of this report and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances.
SOURCE: Wayne Creasy Florida AP Partners and Investors
Wayne Creasy Florida AP Partners and Investors
Wayne Creasy, 800-628-4553
Copyright Business Wire 2005 |
