Stockprowler’s pick this week... Universal Express, Inc. (OTC BB: USXP)
1230 Avenue of the Americas, Suite771
New York, NY 10020
Richard Altomare, CEO
Phone: 917 639-4157
Website: usxp.com
Shares Outstanding: 276.5 million
Market Capitalization: $3.15 million
Closing Price Friday 1/3/03: $0.0114
About 18 months ago we ran a profile report on Universal Express (OTC BB: USXP) and within days the stock price climbed an incredible 600%. Well, once again, the stock price is in the cellar, bashers are all over this stock on the Raging Bull message board, and rumors of market maker manipulation/ huge short positions abound. It is our opinion that USXP may be getting ready to make another run.
To recap… USXP provides an array of services to the private postal industry, including international air courier delivery through WorldPost.com, Luggage Transportation and Logistics through Luggage Express. USXP's principal subsidiaries and divisions include the Private Postal Network, it's sub division PBC Network.com, USXP Logistics, and it's sub-divisions, WorldPost Network.com, Luggage Express, and Virtual Bellhop. USXP also has its own leasing division USXP Capital. The business model is quite similar to the highly successful FTD Florists Network. USXP provides storeowners with a variety of cost-effective services and products to increase their profitability, while they still maintain their local identities or franchise loyalties. The PBC Network's goal it to provide consumers nationwide with a feeling of quality assurance when they frequent a PBC Network location. The PBC Network has been formed to create a value-added association among packaging and shipping centers as well as the actual carriers of freight worldwide. Richard A. Altomare, CEO of USXP, stated, “We have positioned Universal Express at the center of an innovative business providing products and services to the private postal industry, serving over 9000 stores in communities all over America.
What makes USXP a very interesting trading speculation at little more than 1 cent is the following:
On July 26, 2001, Univeral Express, Inc. announced that a jury in the Circuit Court, Dade County, Florida awarded USXP a damage verdict after trial of $389 million dollars against Select Capital, Ronald G. Williams and Walter S. Kolker for fraud and conversion and for failure to honor previous funding commitments and stock manipulation.This judgment is final and non-appealable.
October 7, 2002 - USXP announced a quarterly revenues increase of 300% over last year's total revenues for USXP Capital, in excess of $1,200,000 on bookings of over $9,000,000 worth of equipment. "I am excited to announce that these first quarter results reflect continued growth within our division. These strong revenue gains were accomplished even considering the persistent tightening of commercial lending credit criteria and is prior to our planned lease platform/facility acquisitions," stated David Russell, President of USXP Capital. "This is a direct reflection of the confidence that our strategic partners and national network of vendors/manufacturers/distributors has in USXP Capital during this challenging financing cycle. Our planned lease platform acquisition capabilities will further support our uninterrupted growth within the opportunities in the commercial leasing industry," concluded Mr. Russell "USXP Capital's growing revenue contributions will support our overall corporate objectives. The solid business foundation being established will serve to strengthen the long term value of Universal Express' programs," said Richard A. Altomare, Chairman and CEO of Universal Express.
October 8, 2002 - International Herald Tribune, one of the world's premier international newspapers with circulation around the globe. In a weekly "Frequent Traveler" column that today featured baggage-free travel, Luggage Express is given credit as a "door-to-door courier service in the United States"..."extending throughout the world, right now to most main cities in South and Central Americana, parts of the Caribbean and to most European cities," according to correspondent Roger Collis. The International Herald Tribune, www.iht.com, has an extremely prestigious reputation and prides itself on combining its own powerful news gathering capabilities together with the best of The Washington Post and The New York Times. Headquartered in France, the newspaper has bureaus throughout the world, along with strategic alliances with leading national newspapers in key countries such as Germany, The Netherlands, Spain, Italy, Israel and Japan among others.
Oct. 24, 2002 - USXP announced the signing of a letter of intent to acquire a majority interest in ALS Financial. ALS Financial is an equipment leasing company established in 1990 and provides acquisition capital in the continental United States. "This acquisition will strengthen USXP Capital's equipment offering diversification strategy and provides quality credit facilities from some of the nation's leading commercial lending institutions. The firm has provided quality services to equipment vendor's and end-users nationwide for 12 years and is well respected within its industry niche" stated David Russell, President of USXP Capital.
Oct. 25, 2002 - USXP Capital has executed a letter of intent to purchase United States Coach, one of the nations leading manufacturers of commercial transportation vehicles. United States Coach is recognized by Ford and General Motors as qualified fabricators of their products for use in the commercial livery and transportation industry. The company possesses the coveted QVM (Qualified Vehicle Modifier) and CMC (Cadillac Master Coachbuilder) status held by less than 20 firms worldwide. US Coach and its Bohemia NY manufacturing plant is presently recognized by Newsday as one of the TOP 100 privately held companies on Long Island. "USXP Capital has developed lease financing programs utilized by manufacturers of limousines, commercial vans, and buses throughout the United States. US Coach has been a recognized icon in this business for the last decade and its principals are acknowledged as industry leaders," stated David Russell, President of USXP Capital. He continues, "The addition of US Coach to the Universal Express family of companies results in multiple benefits to both entities by providing a public vehicle for manufacturing development capital during the recovery of the industry while presenting the footprint to establish a captive finance company under the USXP Capital umbrella." "Universal Express is proud of the effort made by both teams to bring this acquisition to the table. US Coach's' national recognition as a premier manufacturer and its' established revenue base, which exceeds $20,000,000 annually, is a welcome addition to the maturing business foundation of Universal Express and its subsidiary USXP Capital," said Richard A. Altomare, President and CEO of Universal Express. "The entire staff of United States Coach embraces entering the next era of vehicle manufacturing as a member of the Universal Express team. With the exciting opportunities that lay ahead of us in our industry, the acquisition and its resulting beneficial foundations will permit US Coach to continue its growth and become the nations number one coach and bus manufacturer," concluded John Gore, President of US Coach.
Nov. 21, 2002 - USXP announced additional funding of $25,000,000 from TransAmerica and New Millennium Financial, funding specifically directed for a cargo airline acquisition. "This funding, in addition to other previously announced funding of $100,000,000 and $460,000,000, which have been targeted for land and bus transportation and third party logistical delivery acquisitions, is designed to advance our delivery network capabilities and obviously add revenues and personnel infrastructure," said Richard A. Altomare, President and CEO of USXP.
Jan. 2, 2003 - USXP announced that its subsidiary, USXP Capital, has executed a contract to acquire United States Coach, one of the nations leading manufacturers of commercial transportation vehicles with over 4500 constructed and historical revenues exceeding $25 million annually. This transaction additionally completes the requirements to conclude the acquisition of Go Leasing, a $12 million asset based finance/lease affiliate of US Coach, thus further enhancing USXP Capital's credit facilities as well as its future bus cargo retrofit modification capabilities. United States Coach is recognized by Ford and General Motors as qualified fabricators of their products for use in the commercial livery and transportation industry. The company possesses the coveted QVM (Qualified Vehicle Modifier) and CMC (Cadillac Master Coachbuilder) status held by fewer than 20 firms worldwide. US Coach, at its manufacturing plant in Bohemia, New York, is presently recognized by Newsday as one of the Top 100 privately held companies on Long Island.
USXP trading at a penny a share looks to us like a bottom fisher’s dream… with all the bashing going on, and what looks to us like market maker manipulation, you have to wonder if this this little gem may be about ready to take off. Just our opinion… but we think that all of the ingredients are here now for a run. Remember, you saw it first on Stockprowler.com. Stockprowler readers are encouraged to visit the Universal Express, Inc. website for further information. Stockprowler.com did not receive compensation of any kind from the company or third parties for writing this report. Readers are urged to read the company SEC filings and do their own due diligence before investing in this or any other stock.
Good Trading... Stockprowler
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