METALS DID YOU READ THIS?? CCGI!
Thuney went on to state, ''Our immediate mission is to further organize and complete an exempt
initial public financing for each of the three divisions as stand alone spin-off entities: The Home
Health, Mental Health and Technical divisions, each with funding to further expand into their most
lucrative business opportunity currently available to their respective business; to obtain a listing for
each respective division as a full reporting publicly traded company, each traded on its own
respective merits. As planned, ComTech will remain as majority shareholder in each respective
spin-off entity, with the underlying value of its stock based on the public market value of its holdings
in each of the three spin-off entities. When the spin-offs are completed, ComTech plans to declare
a stock dividend to its shareholders of the stock it retains in the spin-off entities. According to our
financial model, which is based on current negotiations with investment bankers and investors
respective to funding the spin-offs, the underlying market liquidation value resulting from the
spin-offs, should amount to over $2.00 and could possibly amount to as much as $5.00 or more
per ComTech share. The time frame to have all this completed is dependent on several factors.
Having freshly completed September 30 audited financial statements, we currently feel that the
process can be completed in its entirety before the end of the first six months of 1999.''
Thuney also stated, ''In regard to the 1998 forecast, we are expecting to report sales of around
$11.5 million with earnings between $.04-$.05 a share, our forecast is based on audited financial
results for the nine months ending September 30, 1998, plus preliminary operating results so far for
the fourth quarter of 1998. Based on CCGI's current market price it's stock is trading at a price
earnings ratio of less than 4.'' |
