My bet is for FHAL. Just doing a reverse merger now that will bring them over $800M in assets, and book value over $7.
Press Release Source: The Fronthaul Group
The Fronthaul Group Inc. Announces Merger Agreement With Conversion Solutions, Inc.
Wednesday July 12, 9:56 am ET
KENNESAW, GA--(MARKET WIRE)--Jul 12, 2006 -- The Fronthaul Group, Inc. (OTC BB:FHAL.OB - News) would like to announce the signing of a Merger Agreement and Plan of Merger with Conversion Solutions, Inc., a Delaware Corporation.
The surviving entity will be Conversion Solutions, Inc.; FHAL day to day operation will cease immediately, and the company will operate as CVSU to include the Director and Officers as follows;
Surviving Board of Directors
Rufus Paul Harris Chairman
Ben Stanley Director
Jerry Bivens Director
John Walsh Director
Surviving Officers
Rufus Paul Harris Chief Executive Officer
Ben Stanley Chief Operating Officer
Darryl Horton Chief Financial Officer
Jerry Bivens Corporate Secretary
Romeo Venditti Executive Vice President of Global Investments
Sabra Dabbs Executive Vice President Investments
John Walsh Executive Vice President Administrations
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The Merger facilitates $803,149,146 in booked assets and shareholder equity. Initial estimates places the company combined financial structure and per share book value at $7.21.
Under the agreement CVSU will consume all obligations of FHAL as filed in the last FHAL 10Q.
"This Merger will greatly benefit the shareholders of FHAL and CVSU, and takes the corporation one step closer toward our long-term goals," stated CEO Rufus Paul Harris.
"This is a fantastic day for the shareholders of the Fronthaul Group, Inc. The management mindset has always been to increase shareholder value, I believe this next phase in the evolution of this company will maximize shareholder value in the most effective and efficient manner possible," says Mike Alexander.
Attention CVSU Shareholders, Note Holders and Option Holders; Please see Shareholder update on our website www.cvsu.us each individual will be required to complete the Form of Affiliate to achieve share exchange under the Merger Agreement.
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