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yes, i think so too.
Too nice, that combo-news, rm with 21M revenues and going to a higher exchange.
Merger with 25M revenue company and close to no debt:
Global Entertainment Holdings Completes Share Exchange Merger with Mesa Garage Doors
GLOBENEWSWIRE 10:36 PM ET 2/9/2023
LOS ANGELES, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Global Entertainment Holdings, Inc.(GBHL) (the "Company" or "Global"), an independent global entertainment content production and OTT streaming distribution company, today announced the completion of a share exchange transaction with DCE Construction, Inc., d/b/a Mesa Garage Doors (“Mesa”), a Southern California-based leader in home improvement solutions focused on selling, servicing and installing garage and entry doors as well as custom gates. This transaction follows an initial transaction which closed on January 9, 2023 where the founders of Mesa purchased a controlling interest in the Company through the acquisition of the substantial majority of Global’s Series C Convertible Preferred Stock.
The transaction was effected through a Share Exchange and Reorganization Agreement. Both Mesa and Global are currently undergoing a two year audit by PCOAB registered audit firms that is expected to be complete in the next two months. The completion of the audits will position the Company to become a fully reporting company with the Securities and Exchange Commission (“SEC”). The Company has minimal debt together with gross revenues of over $21.5 million in 2022.
Mesa is led by Dwight Esnard and Michael Layman. Mr. Esnard started the company over 30 years ago and Mr. Layman joined the company more than 20 years ago. Concurrently with the closing of the transaction, Messrs. Esnard and Layman were appointed as the Chief Executive Officer and President of the Company and will serve on the Company’s Board of Directors along with a third, independent director. The existing officers and directors of Global resigned at the closing and they have been appointed to similar positions with the Company’s subsidiary, Global Universal Film Group Inc. The Company plans to divest and “spin-out” all of its entertainment operations and subsidiaries, and will be providing updates soon on the future of the entertainment division of the Company.
Dwight Esnard, the Chief Executive Officer of the Company and founder of Mesa commented, “Going public is the beginning of an exciting new chapter for Mesa to continue our trajectory for growth with an increased focus in Los Angeles, San Diego, Ventura, and Riverside Counties, as well as through expanding our product and service offerings to other areas of home and property improvement. We plan to roll out an aggressive growth strategy in the near future to expand our reach to new locations as well as acquiring strategically aligned companies to expand our market share. This transaction, which makes Mesa a publicly-traded company, is integral to achieving those strategic goals.”
The Company plans on filing various corporate actions with FINRA to ensure the Company’s name and ticker symbol are aligned with Mesa’s business in addition to satisfying the uplisting requirements for a major US stock exchange. The Company plans on filing a registration statement to become a reporting company with SEC upon the audits being completed.
About Mesa Garage Doors, Inc.
Founded over 30 years ago, Mesa Garage Doors, Inc, (www.mesagaragedoors.com) (“MESA”) is the clear Southern California leader in the otherwise highly fragmented business of sales, installation, and service for garage doors. Over these 30 years, Mesa has serviced well over a half million customers utilizing its own staff of installers, technicians, and repair employees. With a strong reputation and extensive customer base, Mesa has leveraged its financial strength, scalability, operations & service call center and professional management to arguably become the single largest garage door specialty company in the United States. While Mesa’s current corporate name certainly implies garage doors, the Company has expanded over the years to include other related installations and services for entry doors, custom wood gates, and garage door openers and is planning additional expansion over the coming months.
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