ARET activities lineup by Steve alias SSPARSONS
ARET:
Owns 49% of Tomahawk
Owns 100% KLHE
Owns 100% FAMC
Owns 2% Flexweight Corp
Owns 6% Kelly's Coffee Group
Owns 100% Cottonwood Development Corp
Currently in talks to acquire a diversified distribution and warehousing Company with operations in Iowa, Minnesota, South Dakota, and Kansas.
ARET Done Deals:
-$4 Million Hydroponic facility in central Missouri. Contract signed November 18, 1997. Projects expected start was June 1998 with completion within 210 days. A Joint Venture with HDC (Hydroponic Development Corp) to become managing partner to provide long term maintenance at the facility is to start after completion of the project.
-$5 Million contract signed on April 28, 1998 to design project management services for the initial phase of 500 low income homes in Linares, Nuevo Leon, Mexico. Design work started in April and these homes are scheduled to be completed by six months after ground breaking. Funds are coming from an independent trust fund on behalf of Fomerrey (a Mexican state) and FOVI (Federal agency).
On June 23, a review was underway to see if construction of 10,000 residential lots could be passed on to Tomahawk in the Monterrey area.
The Mexican authorities were reviewing regulations and insurance needs.
ARET Negotiated Agreements:
-On April 13, an agreement was met with the Dakota Ojibway Tribal Council to provide design engineering and project management for a pilot housing program in Manitoba, Canada. Initial budget for the project ranged from $700,000 to $1 million USD.
-On June 3, an agreement was met with the Dakota Plains First Nation to provide design, engineering and project management for a pilot housing program on Tribal land in Manitoba, Canada. Initial budget for the project ranged from $1.6 to $2.4 million USD.
-On July 28, Tomahawk negotiated a JV with the Dakota Plains First Nation to develop a Resort in the Province of Manitoba, Canada near Winnipeg. The resort will include a hotel, restaurant, bingo facility, 18 hole golf course, RV Park and an activity center for outdoor sports. Tomahawk will be a 40% equity partner and will provide engineering, design, and project management along with long term maintenance. The initial budget is estimated to exceed
$20 million USD. The First Nation is working with the Canadian government to allow Class III gaming activities. Target date and successful finalization of contracts could occur by the end of 1998.
-On July 30, the company announced that Tomahawk was negotiating a JV contract with the Chickasaw Nation of Oklahoma to assist them in their current and future housing needs. It is estimated that a JV partnership will share in approximately $1.5 million per year profit from this venture. Long term goals is to expand the client base and to include surrounding communities and commercial real estate.
-On December 15, 1997 Tomahawk was in final negotiations to convert an
existing greenhouse facility in Manitoba into a Hydro project. Initial costs were $250,000 and $500,000 USD. Future expansion was between $2 to $4 million USD.
-On May 5, Tomahawk signed a Memorandum of Understanding with HDC to design and build a 2 acre hydroponic facility on Cheyenne-Arapaho Tribal Land in the Oklahoma City area. The project was valued at $4 million and a signed contract was expected in June.
ARET and Fluor Daniels (doubtful):
-$7 to $10 million Foundation Package construction from September 1997.
-$5 to $9 million construction of Utility space from September 1997 to May 1998. A meeting was held in May to help determine if ARET won this business but we have received no word.
-$17 to $25 million to design/build and propose a plant expansion from April 1998. Bid was submitted by Tomahawk and JV partner Dunn Industrial Group.
ARET and other projects:
-Tomahawk submitted bid on a Navajo Housing proposal last September. An update finally came on August 10, 1998. There is a need to build 10,000 homes and FAMC's Dustan Shepherd helped sponser the conference along with government officials (including President Clinton). The need for "one stop convenience shopping" was a major topic of discussion (see yesterdays press release).
-Letter of Intent to manage $90-$120 million project in Missouri. Letter of Intent signed in October but no updates since.
-St. Lucia project valued at $34 million. No news since last fall.
ARET and other issues:
-Tomahawk and Barrick Properties entered into an agreement to pursue casino gaming with Indian tribal organizations in North America. This was announced on June 10, 1998.
-ARET is attempting to acquire a distributor and warehousing company which generates $25 million in revenues and has assets totaling $7.1 million USD. This was announced on July 24, 1998.
-ARET bought FAMC in June 1998. FAMC has secured $10 million in mortgage funding with the Chicksaw Nation, PMI Mortage Insurance Co., FHMC, and FT Mortgage Companies. Two additional tribes are within days of finalizing other commitments which would allow FAMC to process $30 million in mortgages (which will lead to the construction of approximately 420 new homes on an annual basis). ARET anticipates FAMC to generate $750,000 in revenues per year just from these mortgages. The adoption of FAMC gives ARET the ability to sell its products in "one stop shopping" format with Indian Tribes. ARET has worked with 8 of 28 tribes in Oklahoma alone.
That about covers it Jens...please post this to SI.
Steve alias SSPARSONS
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