To: Cavalry who wrote (482 ) 9/15/1998 10:47:00 PM From: Cavalry Respond to of 1637
here is the peso thread header which is a research report from somewhere, there are some inaccuracies in this report first the report ---------------------------------------------------------------------- 6 million shares outstanding. 500,000 shares in the float. ---------------------------------------------------------------------- lets start here the ta confirms total outstanding shres are 5.2 million. there were 5 million a few months ago, i believe the extra 200,000 shares from 5 mil to 5.2 mil were restricted shres paid to joh rubber for the aquisition and the rights to their patent. ---------------------------------------------------------------------- the float i will cover in a few seconds ---------------------------------------------------------------------- Northport Industries, Inc. and its subsidiary Versatech Manufacturing, Inc. ("VMI") on April 27, 1998 become a publicly traded company. The result of which is Northport Industries, Inc. Northport and its predecessor companies have conducted Texas/Mexico manufacturing and import since 1986. Northport is a contract manufacturer with its operations headquarters and warehousing located in an 11,000 square foot facility in Del Rio, Texas. ---------------------------------------------------------------------- how could peso become a publicly traded company on 4/27/98 when a 100 shares traded on 3/31. the newly formed company was formed on or around 1/31/98. first public trade was 3/31. the day company was formed will be key issuer in determining float later. they reverse merged into an empty shell called enviromental pyrogenics. there were approx 6 million shares of enviromental pyrogenics they did a 157 to 1 reverse split. this left 50,000 shares of enviromental pyrogenics, they swapped these 50,000 shares for 50,000 shares in the newly formed peso. 50,000 shares worth roughly 300k 50,000 times $6, == $300,000 this is going rate for shells so it makes sense. believe except for these 50,000 shares all the other shares are restricted for 1 year rule a144. end of february 99 is when shares start becoming free trading. --------------------------------------------------------------------- ÿÿ The company focus is the effective management of material and leather sew factories, plastic injection molding, project management and turn key manufacturing services. Currently one factory produces leather wrapped gear shift handles for Cadillac, Oldsmobile and Saturn cars as well as beanbag chairs. The second factory produces golf bags under numerous brand names as well as the Company's own "EverGreen" brand golf bags. The third factory is one of the largest manufacturers of infant car seats for North America. ÿÿ Northport reported revenues for the second quarter of 1998 up 249% with operating income up 133%. With their latest press release coming out today. We rate this stock as a buy and hold! We feel thet PESO will be trading in the $8.00 to $10.00 range very soon. Northport Industries Inc. Signs Three Year Agreement With W.E.T. Automotive Systems Ltd. DEL RIO, Texas--(BUSINESS WIRE)--Sept. 2, 1998--Northport Industries Inc. (OTC BB:PESO) is pleased to announce today that it has entered into agreements to become a preferred supplier to W.E.T. Automotive Systems Ltd. (''W.E.T.''). Northport will be supplying electrical harnesses commencing November, 1998. W.E.T. is the largest producer of heated seats to the United States automotive market. W.E.T. supplies 98% of the United States and 52% of the total world market. These harnesses will be produced at the Northport Automotive plant in Ciudad Acuna, Mexico. Bob Michelini, president, stated that he was very pleased that the largest producer of automotive heated seats selected Northport to produce this crucial part: the electric harness. ''All the work we have done to become a world class supplier is starting to pay off. We will officially obtain our QS 9000 rating in late October. A QS 9000 rating is a world class standard quality rating. This was a major reason for us obtaining this business.'' Michelini further stated that, ''In North America, about 15 million passenger cars and light trucks are produced annually. About 7% of these cars are slated to have heated seats''. Northport Industries Inc. (''Northport'') is engaged through its wholly owned subsidiaries in Maquila (Mexico based) manufacturing for Fortune 500 clients. The Company is an Original Equipment Manufacturer (''OEM'') with three divisions: automotive, golf equipment and infant products. The Company employs approximately 500 people, including site administration, engineering, materials, quality, prototype and maintenance personnel to compliment an experienced work force. The Company's services range from assembly-only services to full materials procurement and assembly contracts referred to as ''turkey'' contracts. They frequently work with customers from product design and prototype stages through ongoing production, and providing manufacturing services for successive product generations. Except for historical information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to risks and uncertainties, including government regulation and taxation, spending, competition, general economic conditions and other risk factors. -------------------------------------------------------------------------------- Contact: ÿÿÿÿ Northport Industries Inc., Del Rio ÿÿÿÿ Investor Relations ÿÿÿÿ B. Michelini or L. Baker, 830/775-1705 or 830/775-0734 ---------------------------------------------------------------------- the rest of the header sounds fine to me cav