To all CVIA shareholders:
I just got off the phone with Jack Arnold, and here is what I found.
1)There are approximately 55 million shares outstanding.
2)Promar Inc./Phipps are not profitable now, but their liablities
are not on CVIA's balance sheet. The reason is because CVIA
decided to spin this part off, so we own an equity interest in
Promar (14%) and Phipps (25%). Moreover, if they become profitable,
then it is great for us, and if not, then it will not really hurt directly.
3) How many shares are controlled by the insiders, including yourself?
He answered this by stating that there really are no insiders left
at CVIA. He, himself, has bought around .40, but I did not ask for
the quantity of his holdings. Also, there are three or four large
groups who have holdings in CVIA.
4) CVIA is no longer a production company. It is doing no business, and
will be in whatever business the company it merges with is doing.
5) Do you anticipate this merger will be completed within the next
six months? YES.
6) He is also very happy with the pace of this merger, and mentioned
it is moving much more quickly than he thought it would.
7) The candidate they are seriously moving forward with is a private
company, large size, and is profitable.
It appears as though things are moving along at a good pace. The next
press release should be the letter of intent, which will specify the
company name, the margins, assets, etc... |
