CCAA...one to keep an eye on next week, Muledude
Copied from Bobz site...
CCAA: Cala Corporation is a developer of international hospitality
businesses with a corporate emphasis on the ownership, operation and
management of hotels, resorts and casinos. Cala Corporation is currently
developing the Undersea Resort and Hotel project with proposed locations
throughout the world. CEO Joseph Cala has been working on this project
since 1996 with the assistance of the prestigious University of Hawaii
School of Oceanography and the internationally renowned architectural firm
of Wimberly Allison Tong & Goo, the world's leading design consultant for
the hospitality, leisure, and entertainment industries. Wimberly Allison
Tong & Goo is head quartered in Honolulu, Hawaii and has offices in
Newport, Singapore and London. The plan also envisions additional resort
hotels in other warm climates such as Belize, Cozumel, Grand Cayman,
Sicily and Malta. The Company is in negotiations with other international
gaming and entertainment industry concerns interested in
exploring potential partnerships and alliances for the undersea project.
Recently Cala Corp. acquired Cala Hotels, Inc., a Hawaii corporation.
Cala Hotels, Inc. owns the rights to the Undersea Resort and Hotel
project and certain other assets attributable to goodwill. Cala Hotels
Inc. has had many years experience in the international hotel and resort
industry, particularly in Hawaii, Japan and the Far East. Consideration
for the transaction was $6,000,000 of Cala Corporation, Inc. common stock.
Joseph Cala also announced recently negotiations with a prominent New
York City based investment banking firm to develop a joint venture plan
for the expansion of a unique European-style coffee shop and bakery
concept to be located in luxury hotels owned by the banking firm and their
partners. The prototype unit will be located in New York City with plans
for the expansion of the concept through licensing agreement. These
actions are the first in a proposed pattern of refining Cala Corporation's
market position and expansion of its market scope.
Cala Corporation has tendered a revised offer to purchase the Oklahoma
City Twin Hills Golf and Country Club. In a final effort to consummate
this transaction, Cala Corporation has offered $3.2 million to be paid
directly to each equity member upon approval of a vote of the
shareholders. As part of the agreement, Cala Corporation will honor,
without modification, all existing membership contracts. In
anticipation of purchase, Cala Corporation has retained the services of
world- renowned resort hotel, entertainment and gaming architect,
Wimberly, Allison, Tong & Goo, as well as local artist Summer Wheat, to
renovate or replace the clubhouse and restaurant facilities. Renowned
designer Arthur Firmes, of California, has also been hired to develop an
on premise, world-class spa facility.
The company is expected to file their financial's today and should be
available on Edgar with in a few days. CCAA will have a PR coming next
week announcing the opening of their web site, also several other PR's
should be forthcoming. One of which could be the announcement of the
company's international offices in Japan, Spain, California and Hawaii.
Also a PR announcing plans for a NASDAQ listing MAY be forthcoming if the
acquisition of Twin Hills Country Club is completed. CCAA was recently
relisted and is currently only covered by only one market maker. As such
they do not show a bid & ask price, but will have 6 market makers covering
the stock by April 10, 2000. At that time a bid and ask price will be
listed. From best estimates after talking to Mr. Cala the outstanding
shares is around 30 million, with 14 millions shares in the float. It is
believed that 10 million shares are held in strong hands and are not
traded. That leaves about 4 million shares to be freely traded.
The undersea hotel and resort project was recently featured in the Wall
Street Journal and Mr. Cala was interviewed on TV last month in Hawaii
about the project. The following is a copy of the Wall Street Journal
Article:
February 11, 2000
BY MICHELLE HIGGINS and JONATHAN B. WEINBACH
Staff Reporters of THE WALL STREET JOURNAL
Luxury Lodging Under the Sea
The luxury hotel is about to take a dive, literally. A floating resort
with at least 20 underwater rooms is on the drawing board at Wimberly
Allison Tong & Goo, the Honolulu architectural firm that designed the
Atlantis Resort in the Bahamas. Cala Corp. currently plans to build the
resort about 300 feet off the shore of Maui in Hawaii. Features include
large portholes and pressurized chambers to allow guests access to their
subaqua environment -- "like a Jules Verne scene," says George Berean,
Wimberly Allison senior vice president.
Meanwhile, U.S. Submarines Inc. and Poseidon Submarines have designed a
286-foot luxury submarine intended for two-day underwater cruises. Guest
rooms are small, but include large portholes, outer-water lights and a
button you can push to feed the fish. The cost of a deep-sea sleep? Room
rates at the resort are expected to be $500 to $600, and the submarine
cruise is estimated at $4,000 a person. But don't reach for your scuba
gear just yet -- both projects are at least two years away.
We feel Cala Corporation has very bright future and is an EXCELLENT LONG
TERM HOLD. We do not recommend daytrading this stock currently due to the
lack of a bid and ask price. But we do feel this is a very low entry
point on this stock. With the strong managament of this company and great
revenue potential this stock could be trading at much higeher. With that
in mind we are giving CCAA a LONG TERM TARGET PRICE of $20.
Cala Corporation future Web Site due to come on line next week:
www.calacorporation.com/
Plans for Undersea Resort Hotel 1/25/00:
biz.yahoo.com/prnews/000125/ok_cala_co_1.html
Cala Cop. makes offer for Twin Hills Country Club 1/26/00:
biz.yahoo.com/prnews/000126/ok_cala_co_1.html
Cala Corp. buys Cala Hotels, Inc of Hawaii 2/4/00:
biz.yahoo.com/prnews/000204/ok_cala_co_1.html
Cala Corp. Tenders Final Purchase Offer to Twin Hills 3/30/00:
biz.yahoo.com/prnews/000330/ok_cala_co_1.html
Cala Corporation
Worldwide Headquarters
Bank One Center
100 North Broadway, Suite 1890
Oklahoma City, OK 73102
(405) 235-4960
Fax: (405) 235-0269 |
