Active Shell - The Board of Directors of Homelife, Inc. have signed a letter of intent dated August 4, 2005
with R Capital Partners, Inc. for the sale of majority control of Homelife, Inc. and the subsequent acquisition by Homelife of 100% of the issued and outstanding shares owned by shareholders of Price Oil, Inc.
10K on 9/7/2005 has OS of 12,371,886 shares and FLOAT of 3,037,700
* PRICE OIL, INC
has been the recipient of three Silver Awards by Exxons Commitment to Excellence program
and two Gold Tigers as Exxon's top national jobber.
* The Montgomery Chamber of Commerce has named PRICE OIL, INC. as its Small Business of the Year
, and the Alabama Governor's Committee has named PRICE OIL, INC. as its Employer of the Year.
* PRICE OIL has recently launched into the panhandle of Florida and is developing sites in conjunction with several prominent developers under the ExxonMobil, Shell, Citgo and BP brands
Price Oil Inc - Montgomery, AL 36117 Phone: 334-277-0943 334-277-6688 Fax: 334-277-0888
Registrant had 12,371,886 shares of its $.001 par value Common Stock issued and outstanding with an aggregate market value of the common stock held by non-affiliates of $121,508. This calculation is based upon the closing sales price of $0.04 per share on May 31, 2005. All Officers and Directors as a group 9,093,194 73.5%
The Board of Directors of Homelife, Inc. have signed a letter of intent dated August 4, 2005 with R Capital Partners, Inc. for the sale of majority control of Homelife, Inc. and the subsequent acquisition by Homelife of 100% of the issued and outstanding shares owned by shareholders of Price Oil, Inc. The full sales price has been set at $250,000. Upon confirmation that the full sales price has been received into escrow, Homelife shall complete a 1 for 5.2 reverse stock split of its common shares and preferred shares such that a total of 2,379,208 total shares of common stock shall be issued and outstanding
and a total of 9.6154 shares of its Series AA preferred stock shall be issued and outstanding subsequent to the reverse stock split. Homelife shall also have a total of 200,000 warrants issued and outstanding exercisable at $9.10 per share (post reverse split) until 2012.
Upon completion of the reverse split the shareholders of Homelife shall deliver to escrow a total of 1,383,499 shares, together with medallion guaranteed stock powers sufficient to transfer ownership of such shares and Homelife shall immediately issue and deliver an additional 27,470,551 shares to the escrow account for a total of 28,854,050. At the closing, escrow shall release the Homelife shares to the Price Oil, Inc. shareholders, R Capital or assigns. The purchase price will be released to pay the liabilities and other obligations of Homelife Realty Services, Inc., a wholly-owned subsidiary of Homelife and release the Price shares to Homelife.