Rosario, now we have gotten some where. Too many extreme comments had been made about winter construction, and that has been corrected. It was you who brought the more complex and difficult construction of commercial properties onto this thread.(your buddy in Milwaukee) We now know, winter is a pain, but we work everyday, our industry does not shut down.
Houses are a piece of cake as compared to commercial construction. They do not require much large equipment at all, and that equipment which is used is only there for a few days to dig the footings and the basement. They normally subcontract with an excavator to do that work. Building material suppliers have boom trucks which deliver the product on site, where wanted which reduces the need to move those products much. Little conveyors are nice to move shingles to the roof top and are not effected by weather.
ARET is a holding company, not a construction company. Tomahawk is their construction division and it had not been operating through their last quarterly filing. Zero work.
What ARET plans to do is use the Cottonwood wall system. (ARET acquired Cottonwood twice in the last year. <g>) These small wall panels would be delivered to the house site and connected. They do limit some in the design of homes, but in the case of what ARET intends to do, they should be an excellent, efficient, quick way of building the shell. They really reduce the time and insulated panels are excellent products built at a plant. The one's I have seen do not require equipment to be moved.
Right now, the company is basically acting as a construction management firm.
From the SEC filing:
The Company's primary line of business is currently being conducted through Tomahawk Construction Company, a wholly owned subsidiary ("Tomahawk"). Tomahawk has traditionally focused its operations on a wide range of construction projects as a qualified American Indian Minority Business Enterprise. Tomahawk's construction projects have included utility work,
earthwork, structural concrete, bridge work, asphalt and concrete paving, commercial buildings, pump stations and treatment plants.
Unfortunately, Tomahawk's ability to generate revenues has been seriously stifled as a result of filing Chapter 11 Bankruptcy on September 15, 1994. Although Tomahawk emerged from Bankruptcy on August 25, 1995, it has been unable to obtain any substantial construction contracts. Nonetheless, Tomahawk
continues to bid for new construction projects. (For more information on Tomahawk's Bankruptcy proceedings, see the Company's Form 10KSB for December 31,
1997.)
As a result of the Company's inability to generate revenues, as it did in the past through a competitive bidding process, the Company has decided to shift its operational focus. The Company is in the process of implementing a new plan of operation in order to satisfy its debts and create operating revenues.
The Company's plan is threefold.
1. The Company plans to reduce its debt through eliminating all of its engineering subsidiaries.
The Company currently has 10 closed subsidiaries with no significant assets. The Company is currently in negotiations to sell off all of these subsidiaries and thereby eliminate most of the liabilities associated with these subsidiaries from its balance sheet.
The Company intends to complete the sell off by September 30, 1998.
These transactions are expected to have significant impact on the Company's financial position in the third quarter of 1998.
2. The Company plans to create an integrated system that will focus on providing housing to Native Americans.
The Company's goal is to position itself to provide residential construction and lending services to Native Americans throughout the country. On August 6, 1998, the Company took a large step in this direction through the acquisition of First American
Mortgage Company ("FAMC"). (For more information on the FAMC transaction, see the Company's 8-K filed on August 19, 1998). FAMC is a mortgage company whose focus is to provide financing to Native Americans. FAMC has already implemented its first pilot program with the Chicksaw Nation in Oklahoma that has allowed FAMC to secure Ten Million dollars ($10,000,000) in mortgage funding. FAMC is currently in negotiations to obtain additional mortgage funding through three additional Indian Nations in Oklahoma.
In addition, the Company has plans to acquire Cottonwood Development of K.C., Inc. ("Cottonwood") whose primary line of business
will be the manufacture structural insulated panels ("SIPs"). SIPs are an alternative to wood source or other conventional building materials in residential and commercial construction. The advantages of SIPs are ease of construction, better insulation, industry wide recognition for their resistance to lateral loads generated by earthquakes and high winds. The Company has already begun negotiations with the Chicksaw Nation to form a joint venture to assist Cottonwood with its plans. Cottonwood is in the preliminary stages of obtaining financing through private stock placements.
SNIP:
3. The Company intends to implement its plans to construct and subsequently operate a Hydroponic facilities.
The Company through Tomahawk intends to construct a hydroponics facility and operate it through a Hydroponics Division ("HDC"). The Company believes that this venture will provide some diversity to the Company's overall plan of operation. The Company is in possession of construction plans that will allow it to build a unique hydroponics facility. The facility will utilize nexus
greenhouse structures that are a computerized system that monitors the growing any of vine crops to include tomatoes, peppers, English cucumbers and lettuce.
The Company has conducted a feasibility study and a pro forma balance sheets which show that the venture could be profitable. The Company is in the initial stages of obtaining financing.
Tonto, ARET is not building AIRPORTS, MALLS, or SKY SCRAPERS!! This is a company that builds houses and may be A resort. They just came out of a CHAPTER 11 BANKRUPTCY!! I am sure that there equipment is not even close to being STATE OF THE ART! Best Regards
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