I think what it boils down to is that their are many frustrated people who
lost money on this stock.......... Yes I believe Dan Fisher has done wrong
but that is not the whole story only part of it. This shell has been in and
out of deals on a revolving basis since last year and all one has to do is
take the time to read some of the New Releases and you can see a clear and
bigger picture of glorified projections that seemed to never pan out. So
this thing about blaming all on Mr. Fisher does not cut it with me, there
is no conspiracy just people who got ripped that are venting. Yes I feel he
is a creep (Dan Fisher) and he has done much to damage the shareholders of
MIDL but he was not the lone ranger running the show in regards to MIDL
since last year. All it was one of many deals that never paned out and
their were many that seemed to have just disappeared or were tossed. This
shell is comprised of deal makers and nothing more the question is were the
deals over exaggerated and real or were they just a ploy to run up the
stock for reasons that are not known........... The following is some of
the News Releases (parts of) and if you feel comfortable after reading them and their
outcome than this stock is for you Many may say that that's old news and
the Company is doing things at present to make it right but a Liquidating
Trust is exactly what it inferrers to a Liquidation of certain
assets..........
Agreement to Acquire Privately Held Jet View Holdings, Inc.
August 14, 1997 at 16:
Upon completion of these two acquisitions, and others in active
negotiations, the company will have pro-forma revenue of $40 mm and
pro-forma pre-tax cash flow of $6.2 mm dollars.
Asa result of this The company expects to acquire 5 to 6 companies per year with individual
sales of $5 mm to $25 mm in total revenue per company.
growth and the abundance of investment opportunities available, the company
expects to achieve over $200 mm dollars in total revenue by the end of FY
1999.
September 02, 1997
Midland Inc. Appoints Steven A. King as a Director and as Chairman of the Board
Midland Inc. expects to acquire five to seven companies per year with
revenues for fiscal year 1998 projected at $200 mm withpre-tax earnings of
$.91 per share fully diluted. Midland anticipates application to NASDAQ
National Market System in January of 1998.
September 02, 1997
Midland Inc. Enters Into Agreements to Acquire a Manufacturer of Natural Wood Products and Components
The company, located in Idaho had sales of $9.8 mm for the latest fiscal
year and will add approximately $1.8 mm in pre-tax earnings to Midland Inc.,
which will equal approximately $.09 per share on a fully diluted basis. The
transaction will add approximately $4.6 mm in assets to the balance sheet
of Midland Inc. The total value of the transaction is $5.35 mm and will be
financed using equity and leverage finance. The transaction is scheduled
to close on Sept. 30, 1997.
Midland Inc. expects to acquire five to seven companies per year with
revenues for fiscal year 1998 projected at $200 mm withpre-tax earnings of
$.91 per share fully diluted. Midland anticipates application to NASDAQ
National Market System in January of 1998.
September 04, 1997
Midland Enters Agreements to Acquire Manufacturer of Marine Related
Consumer Products
The company, located in South Carolina had sales of $12.9 mm for
the latest fiscal year ended 3/31/97 and will add approximately
$2.4 mm in pre-tax earnings to Midland Inc., which will equal
approximately $.11 per share on a fully diluted basis.
The transaction will add approximately $6.5 mm in assets to the
balance sheet of Midland Inc. The total value of the transaction is
$9.8 mm and will be financed using equity and leverage finance. The
transaction is scheduled to close prior to Oct. 15, 1997.
Midland Inc. expects to acquire five to seven companies per year with
revenues for fiscal year 1998 projected at $200 mm withpre-tax earnings of
$.91 per share fully diluted. Midland anticipates application to NASDAQ
National Market System in January of 1998.
September 09, 1997
Midland Inc. Intends to Apply for Listing on NASDAQ National Market System Upon Completion of its Planned Acquisitions
Midland has recently disposed of negative performing assets and
upon completion of the acquisitions, previously announced, will
immediately return to profitability. The acquisitions will add over
$10.5 mm in assets and provide fully diluted earnings of $.20 cents
per share to earnings.
We fully intend on acquiring five to seven profitable companies annually
and expect FY 1998 revenues tobe in excess of $200 mm. Based on this growth
strategy, FY 1998 earnings are expected to be $1.28 per share compared to a
loss for FY1996 of $765,273 or $.91 cents per share," said King.
Additionally King stated, "The company has no intention of converting the
54,000 shares of Series A preferred stock until such time as those shares
become exercisable, which is Oct. 1, 1998."
Midland Inc., expects to acquire five to seven companies per year with
revenues for fiscal year 1998 projected at $200 mm with pre-tax earnings of
a revised $1.28 cents per share fully diluted. Midland anticipates
application to NASDAQ National Market System in November of 1997.
Notice the total Series Preferred A (54,000) Has it risen? Think about
it..............
October 09, 1997
Midland, Inc. Acquires New Departure Corporation
The Company anticipates it will add sales in excess of $15,000,000 due to this expansion. The Company will also reopen itsWest Coast office, in San Diego, to better serve its customers in that part ofthe country.
The Company feels that it can convert a substantial portion of the $1
billion in sales, currently in this market segment, to short term capital leases.
The copyrighted software provided by the Company is designed to increase inventory turns which can increase profits for distributors by as much as 20%. The software is unique to this $20 billion per year market. The Company expects to have sales/licensing fees of $2 to $5 million during FY 1998.
Midland, Inc. (BB: MIDL)
November 13, 1997
Midland, Inc. announced today that it has acquired DRC Incorporated of Las Vegas, Nevada.
The acquisition was paid for by Midland with restricted stock and will
add about $10,000,000 to Midland's revenues for FY 1998.
Sales for FY 1998 are expected to exceed $5,000,000.
Midland, Inc. announced today that it has sold DRC Incorporated
of Las Vegas, Nev.
DRC (a Nevada corporation) is in the restaurant, bar and
entertainment business in Las Vegas to CNHH Holdings, Inc., a Nevada corporation, for cash and stock. Diskman adds marketing and software expertise that management feels will more than double revenues from the software division. Sales for FY 1998 are
expected to exceed $5,000,000.
Notice it was sold to CNHH.............
Sometime in December.....
Midland Announces Alliance with Industrial Clearinghouse, Inc.
It is expected that in 1998, these gross revenues will exceed
one million dollars.
January 22, 1998
Midland, Inc. Announces Acquisition of Arcoenergy, Inc.
a transaction valued at $50,000,000.
. Arcoenergy is a Wyoming corporation with offices in Dallas andHouston.
The company has production facilities in Victoria, Texas,Houston, and in
Albany, Ky. Additional locations are currently underconstruction in
Indiana, Illinois and Kentucky. The company also produces oil and gas in South Texas.
Now the above is ridiculous they stated they had PRODUCTION FACILITIES in
Victoria not to mention the others so hold that thought for
a while.................
They also produce oil and gas in South Texas???????????
January 29, 1998
Midland's (Nasdaq/BB:MIDL) wholly
owned subsidiary, Acronenergy, entered into an agreement to acquire
2290 acres of leasehold interest in the vicinity of the Bob West
Field in South Texas.
The Bob West Field has produced over 300 billion cubic feet of gas to date through 70 wells from five major oil and gas producers. The company estimates that the property has 36 to 50 billion cubic feet of reserves. With averages annual gas prices the acquisition will add an estimated 3.6 billion dollars in reserves to the company's balance sheet, based on $1.00 per mcf in the ground reserve valuation.
3.6 BILLILON in reserves.....................
February 02, 1998
Midland's (Nasdaq/BB:MIDL) wholly owned subsidiary, Acronenergy, entered into an agreement to acquire 2290 acres of leasehold interest in the vicinity of the Bob West Field in South Texas.
The Bob West Field has produced over 300 billion cubic feet of gas to date through 70 wells from five major oil and gas producers. The company estimates that the property has 360 to 500 billion cubic feet of reserves.
Midland Inc. Acquires Leasehold Interest in Bob West Field in South Texas. With annual gas prices averaging $2.50 per M.C.F.the acquisition will add after 30% cost expenses over the six to 10 year
life of the field and the acquisition will add an estimated $360 million in reserves to the company's balance sheet, based on $1.00 per mcf in the ground reserve valuation.
Tuesday, April 07, 1998
Midland's Subsidiary, Arcon Energy, Inc. Sets Up a New Division
known as Arcon Fuel Marketing, Inc. for the purpose of providing cross marketing coupons and ethanol gasoline sales program
suitable for certain supermarkets, grocers and convenience stores.
In addition, we are negotiating with a large ethanol gasoline blender for the supply of DF-144 on a direct basis. Arcon is expected to allot
$2,500,000 toward the Arcon Fuel Marketing Program. Arcon expects to raise the above funds and considerably more through its parent company Midland, Inc. Arcon's ethanol blended gasoline is eligible for a 5.4 cents per gallon rebate until 2007. This rebate was recently passed by Congress. Additional service contracts for maintenance of the pumps and on-time delivery of gasoline to all supermarkets will create additional income and no-hassle
contracts for supermarkets. A five-year business plan and the procurement of gasoline and marketing contracts to commence immediately is being sought with a Dallas company at present. They are building over 500 service locations at supermarkets and are 75% owned by a major foreign oil company.
April 16, 1998
Midland, Inc. Announces California Breakthrough and Patent Info
The Company announces the opening of our Houston operations center. It is a more desirable location from the technical and supply side of the gas business, and, as the initial plant is being constructed at Victoria, Texas (near Houston),
According to the January 22, 1998 release a production facility was already
in operation Quote; The company has production facilities in
Victoria, Texas,Houston, and in Albany, Ky. Additional locations are currently underconstruction in Indiana, Illinois and Kentucky.
Why was this not questioned by Mark and others within the Company since the initial accusation included a working production facility as well as others. I find it hard to believe they were that naive to the situation.
April 22, 1998
Midland's subsidiary, Arcon, announces the following:
Bob West Field
After extensive evaluation of the South Falcon Dam extension of
the Bob West Field in Texas, Arcon has elected to withdraw from the
project. The risk involved in the initial $11 milion project is
significant from the legal and production view. It is Arcon's
opinion that production in the South Falcon would be marginal, and
we have elected to concentrate development efforts on DF-144,
in light of recent stunning developments in California.
On June 24, 1998 CNHH made this announcement in regards to the purchace of DRC from MIDL in December of 1997.
CNH Holdings has sold their interest in DRC to private investors in
exchange for 2.5 million of its common stock being retired to the treasury
and $11,000 cash CNH Holdings had invested.
To me this makes no sense at all....... If it was sold to private investors why would it involve retiring 2.5 Milliion shares of CNHH
stock and how many shares were initally paid for this company............... $11,000 CASH????
fast.quote.com
$10,000,000 to Midland's revenues????
Not only did this deal not pan out for MIDL it didn't pan out for
CNHH...............
Read the CNHH releases and see if their is a resemblance in regards to the
MIDL releases.......... Remember from my understanding Mark Pierce is
involved with this one also...........................
biz.yahoo.com
Yes Mr. Fisher seems to have done wrong but their is more to this story
than just Mr. Fisher.................... I think the focus needs to be
directed to ALL that were involved with these two
Companies.................... and the promising News Releases.... The bid
on CNHH is now at 37 cents I have paid as high as 2.25 for this stock.
I remember when information was posted about Mr. Fisher well before this stock went in the crapper and instead of taking it seriously he was slammed and conspiracy theorys were thrown around..... something stinks and if others do not agree thats fine....... Mark Pierce has CNHH stock why is he involved with all these different shells and since he is an attorney has he not reviewed the press releases before they were released?........... If he did then he would have been aware of operational facilities in Victoria as well as other areas so why then build a plant when it is already in operation...
This was stated on many of their news releases before Fisher or Arcon was even envolved in this shell..............
The company expects to acquire 5 to 6 companies per year with individual sales of $5 mm to $25 mm in total revenue per company.
Or how about the Companies projection of $630 million in revenues in a 10 year period.......... The end result was they tossed that deal away like all the rest.......... there excuse was they wanted to focus on DF-144 something I myself bought line and sinker. The bottom line for me is I do not trust anything this Company says. As far as Charlie, Mark or whoever doing this out of the goodness of their heart... it only leads one to think of the real involvement of all the past and present deals. Whats the deal with Revenues lets hear some Gross and Net figures......... Saying what something is worth a figure (revenues) does not mean it can be liquidated for that same figure if anything probably far less...........
It takes much money to upkeep large vessels what could be deemed as revenues can become a cash cow..............
We fully intend on acquiring five to seven profitable companies annually
and expect FY 1998 revenues tobe in excess of $200 mm. Based on this growth
strategy, FY 1998 earnings are expected to be $1.28 per share compared to a
loss for FY1996 of $765,273 or $.91 cents per share," said King.
????
I think before people start banging on Dusty, Jim and others just step back and remember the time when we were warned about Fisher the same verbal attacks occurred while some one was presenting facts the bottom line if Midland would have checked it out much of this mess might have been avoided....... I am tired of this conspiracy mentality by some the only conspiracy is and was poor management from the start whether it was intentional or just pure stupidity the SEC I am sure will sort it out.
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