Mr. Norm Pokutylowicz replacing Stephen Helm as Chief Executive Officer, effective June 1, 2019. Stephen Helm will remain as Chairman of the Board of Directors. Norm Pokutylowicz Shareholder Letter: https://tvoginc.com/wp-content/uploads/2019/06/TVOG-Letter-To-Shareholders-Final-06-10-19.pdf ACQUISITION OUTLINE
In order to jump start its momentum in the infrastructure segment?,? TVOG will target acquisitions involved in one or more of the infrastructure segments, including: technology, service, & supply chain?. TVOG? ? has several ongoing activities currently taking place. Three of the company’s previously announced acquisition agreement’s are making progress towards closing and should be announced in the near future. Turner appreciates shareholders’ patience and we are eager for these companies to be officially integrated into the company portfolio. TVOG also has additional agreements in progress that will be announced once due diligence has been completed. The Company expects to announce in future releases continued acquisitions and other positive developments in which it is currently engaged, when appropriate. Please be reminded that on-going negotiations may and can result in the halting, delaying or cancellation of any targeted acquisition at any time. Current Acquisition Targets:
Vision Services, LLC dba American Paving – Visco Sealcoating (“American”) Location - Columbia, South Carolina Status: Under Asset Purchase Agreement
? The Company has been operating under a single owner for over 15 years. ? American Paving is an asset purchase which includes all business rights, brands, customers, etc. ? The transaction will be acquired using Preferred Stock, thereby limiting dilution to the existing shareholder base. ? Updated forecasts for 2019 will be forthcoming.
O&S Builders, Inc.; dba American Parking Control (“APC”), Location: Houston, Texas Status: Under Memorandum Of Agreement
? APC is a full service construction company in business since 1984 with over 17 employees. ? The principal ownership has extensive backgrounds in mega infrastructure projects with one of the largest private engineering and contracting companies in the world. ? Investment is being made into growth by expanding staff, equipment and area of operations. ? Aggressive growth, over the last four (4) years ? Updated forecasts for 2019 will be forthcoming.
Full Service Asphalt Services Company Location: Nashville, Tennessee Status: Under Memorandum Of Agreement
? Woman-owned business, registered with State and Municipal programs. ? Recently registered with Federal airport system for new work.
3 ? Significant year over year growth. ? Updated forecasts for 2019 will be forthcoming. COMPLIANCE
Next, TVOG is pleased to update shareholders as to the status of its Form 10. The filing is being readied by company auditors to be submitted for review by the Securities and Exchange Commission. Once that is accepted Turner will immediately apply for OTCQB status and continue pursuing our business model to eventually uplist to a more highly regarded exchange. Much time and effort has been put into this filing by the entire Turner team and completing this filing is of paramount importance to us. CAPITALIZATION PLAN
TVOG has prepared a capitalization plan that encompasses ongoing access to liquidity and a long-term placement plan that will include engaging full service investment banks. Ongoing liquidity is a combination of equity placement and credit facilities.
This has been initially established by the recently completed equity placement agreement with GHS Investments which will allow for the eventual placement over time of $4,000,000.00 of common stock, of which the price is proportional to the share price but at no time is lower than $0.0125. GHS is a niche-offering private investment and management group that provides financial solutions for small-cap enterprises. Proceeds from the investments will be strictly used for the company’s growth capital and to fund the initial stages of the Company’s focused infrastructure build out.
The Company has requested term sheets from credit facility offers that look promising and will be evaluated for their merits. Credit utilized at this stage will be ideally used for short-term equipment deployment, working capital and acquisition bridge capital.
The long-term capital plan goal is a $25,000,000.00 placement of a combination of common and preferred stock. TVOG is currently structuring a special rights offering of $4,000,000.00 of common stock and is proposing a $21,000,000.00 preferred stock placement follow on to support acquisitions and growth. The Company may elect to change these structures or scale up or down based on capital markets conditions. Material agreements and placements will be fully disclosed via upcoming OTC Markets or SEC filings and upon shareholder request. INVESTOR RELATIONS
Moving forward, TVOG is actively considering new management, new board members, and key consultants and specialists to add to our team while we continue with our SEC filings, work on new financing, and continue to keep the company on track to implement its acquisition model. Investors should also look forward to a name and symbol change that better reflects the direction that TVOG is now heading. Investor Relations will be available to shareholders regarding any questions or concerns