MVP Holdings Inc. is a gas producer, owning certain gas pipelines in W. Va. and gas wells in W. Va. and La. Formerly, Co. conducted a pool and spa business.
Company's gas wells are located in Ritchie and Pleasants Counties, W. Va. and Vermillion and LaSalle Parishes in La.
Under its strategic plan, Co. plans to focus on gas rather than combining gas with oil, to minimize environmental problems and production labor; will perform 'work over' of existing wells with available operating and geological data rather than taking on the risk inherent in 'wild catting' new well sites; and will seek to produce stable profits by contracting with users on a take or pay basis, producing a high thermal content product sold at a premium, minimizing transportation costs by producing close to major areas of use, and acquiring wells that qualify for certain tax credits. MVP Holdings Inc.
COMMON OFFERED:
Auth. Shs. Outstg. Shs.
Common $0.001 par...........................50,000,000 22,005,240
STOCKHOLDERS:
July 17, 1997, 65 (of record). D.W. Parr owned or controlled 22.7% of the Com. and Phoenix Resources Technologies, Inc. 18.1% (4,000,000 shs.).
TRANSFER AGENT: Signature Stock Transfer, Dallas..
PRICE RANGE:
TRADED- OTC Bulletin Board (Symbol MVPH).
DIVIDENDS:
Com. $0.001 par: no cash.
Common was split 20-for-1 in Feb., 1997.
Annual Report
Annual Report- Inc. Acct.: Thou. $
Yr. @Nov. 28 '95
End. to
Dec. 31 '96 Dec. 31 '95
Revenues...........................................250 ---
Cost & exps........................................300 1
Oper. income.......................................d50 d1
Depreciation.........................................1 ---
Net income.......................................d51 d1
*Share earns....................................d$0.06 Nil
Avge. shs. (Thou.):................................900 Nil
dDeficit.
*Based on avge. shs.
@Date of inception.
Bal. Sheet, Dec. 31: Thou. $
Assets- 1996 1995
Cash................................................19 7
Costs in excess of billings........................--- 2
Tot. curr. assets.................................19 9
*Net property........................................7 ---
Total assets......................................26 9
Liabilities-.......................................
Due to shareholders..................................7 10
Income tax...........................................1 ---
Billings in excess of costs.........................12 ---
Tot. curr. liabs..................................20 10
@Com. stk. p.$0.001..................................1 ---
Paid-in cap.........................................57 ---
Retained earns.....................................d52 d1
Total liabs.......................................26 9
Net wkg. cap........................................d1 d1
Equity per sh....................................$0.01 N/A
dDeficit.
*Depr. res.........................................1 ---
@Com. shs. (Thou.):..............................900 ---
AUDITORS : Barry Friedman, Las Vegas, Nev. |
