LFWK -- LFWK Further Discloses Shareholder Information
NASHVILLE, TN, Mar 15, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. (OTC: LFWK) today announced that its original plan of shareholder disclosure (as is practical) has been furthered by this announcement. Namely, that Company Insiders have purchased up to 5M more shares of LFWK on the open market. Thus, an already negative public float tips the scales even more impossibly lopsided than previously thought. This information is aimed to bolster confidence among shareholders by maximizing the transparency of disclosures regarding the public markets and its participants.
LFWK CEO Dennis Ammerman stated today, "This is what 'Short Seller Captured Capital' is all about. Insiders feel that the shares continue to be undervalued. The result is a stronger capital base for the present and future operations of this company. I want also to inform our shareholders that plans are, as always, moving forward with our relationships with Sulja Bros. and Consultech. We anticipate no delays. The financial reports for LFWK and Sulja Bros., which include revenues, net profits, and enumerated assets, have been released. I believe that the sound judgment of our shareholders will again carry the day as they agree with us that value brought about by the collective planning and hard work of dedicated colleagues far out strips the diminutive gnattings of annoying parasitical profiteers."
LFWK is in the process of securing two new buildings in Louisville, KY. The collective purchase price is $3.98M. The estimated net profit upon project completion is $1.8M.
Shortly after the merger with Consultech's Sulja Bros. Building Supplies, Ltd.(www.suljabros.com), LFWK will complete the merger with Consultech Construction Management Inc.'s Midwest office.
SOURCE: LoftWerks, Inc.
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