Company Profile: [Lake Forest, Calif.] ( Nutek, Inc., OTCBB (NUTK)
Nutek is a diversified holding company with two main operating companies involved in two very different industries. Nutek's VAC-U-Lift, Inc., in Jourdanton, Texas is involved in Oil & Gas production, And Nutek's newly acquired International Licensing Group (ILG), a California-based consumer marketing company, active in the acquisition, development, manufacturing and marketing of proprietary consumer and commercial products. It owns or controls a broad spectrum of unique patented products, which are sold worldwide. ILG introduces new products through the use of home shopping channels, its own infomercials, American Media, and a network of manufacturer's representatives.
acquisition of ILG: The acquisition of ILG adds revenue and profitability to Nutek's financial bottom line, which will eventually equate to a much higher stock price. We see several good things coming from the merger. First, the intrinsic value to Nutek shareholders is increased due to the combined managerial and product resources of the two companies. Second, the ILG shareholders have improved liquidity as owners of a publicly traded stock. Third, the combined companies now have greater strength insofar as future mergers and acquisitions are concerned and a more substantial Balance Sheet. Fourth, Nutek has a 1.76 million-dollar tax loss carryforward that will offset ILG profits during the next 12 months.
New Management: Rodger Garrity, Nutek's president, has resigned, but will stay on in an advisory capacity. ILG President, Michael A. Furr, is now President and CEO of Nutek. Mr. Furr has an extensive management background having worked with Figgie International in various capacities from Regional director to Vice President. Mr.Furr, accumulated a considerable amount of work experience and knowledge with regard to mergers, acquisitions and company valuations. When he left Figgie in 1987 the company was a multinational holding corporation with 37 operating companies in twelve countries doing in excess of 1.5Billion in revenues. Figgie's stock had grown from $8.00 a share to more than $60.00 a share by 1985. Mr. Furr also has considerable background in investment banking and stock brokerage having worked for H.J.Meyer & Company a New York member investment banking firm based in Beverly Hills, Calif. Mr. Furr is adept at working with the Wall Street community and is currently organizing a new network of Market Maker Broker/Dealers for Nutek stock. Mr. Furr is quoted as saying, "We will actively and aggressively spread the word to the investing public and brokerage community about the "New" Nutek and the exciting future in store for our stockholders." Another addition to the management team is Eric A. Bauchman, the new Vice President of Finance and Operations. Mr. Bauchman did his undergraduate work at Fordham University, majoring in finance and accounting. He went on to the MBA program of the Columbia University Graduate School of Business, where he majored in international finance and accounting. Mr. Bauchman has over 20 years of in-depth, hands-on experience in business operations, startups and turnarounds, having worked internationally with client companies ranging from small entrepreneurships to Fortune 100 companies.
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