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Wow! Excellent piece of news. Now could you please tell us what is relevant in the "news" to today? Sorry, I am confused by the lack of message.
This board is now the new challenger board
FYI: New forum started on RagingBull for CPWB...
Challenger Powerboats, Inc.
VV
Xtreme Companies Changes Name to Challenger Powerboats, Inc.; New Ticker Symbol 'CPWB'
WASHINGTON, Mo., Nov 21 /PRNewswire-FirstCall/ -- Xtreme Companies, Inc. (OTC Bulletin Board: XTME) announced today that shareholders have approved a corporate name change to Challenger Powerboats, Inc. This signals a new beginning for the organization which has completed a sweeping corporate restructuring and a successful integration of Marine Holdings, Inc., which it acquired earlier this year. The Company will begin trading under its new ticker symbol 'CPWB' beginning on Tuesday, November 21, 2006.
Challenger CEO Laurie Phillips stated, 'As a result of winding down the old fire-rescue and patrol boat business, and focusing on our core business, we believe that the name Xtreme is no longer indicative of who we are as an organization. This combined with our fresh approach and new direction, was the right time to introduce Challenger Powerboats to reinforce our commitment to this long-term strategy.'
About Challenger Powerboats, Inc.
Challenger Powerboats, Inc., produces high end, semi-custom fiberglass sport cruiser and high performance boats. Challenger holds the exclusive rights to the revolutionary DDC hull for boats up to 40 feet in length. The DDC hull is a patented revolutionary design by world-renowned marine designer Harry Schoell, which incorporates two hulls into one, resulting in a constant planning surface enhancing stability and generating greater transom lift. This enables the hull to run faster in rougher seas while providing a dry, safe and more comfortable ride.
From Small-Cap Digest:
Xtreme Companies (OTCBB: XTME) released their third quarter results yesterday. While most accounting statements usually include some written explanation to add the proper context, we’d say Xtreme’s interesting quarter almost requires it. Before we even dive in, a quick accounting lesson…..
Even the most accounting-averse of our reader probably knows revenue is ‘booked’ when merchandise is sold (or when service time is billed). What may be less understood is that revenue is essentially reduced when merchandise is returned to the manufacturer. Such is the case with Xtreme for their Q3; the numbers don’t look all that great, primarily because a couple of their key vendors returned, or refused delivery of, boats they had agreed to purchase.
The reversal of those sales pretty much wiped out Xtreme’s whole year, at least on paper. But, you should also recognize that their inventory levels shot way up when they for the boats back. Obviously those boats are still ‘for sale’. Once they finally are sold, their selling price (less the cost) can be re-booked as revenue.
So, keep that in mind when you review the abbreviated results here, or the detailed results here.
Aside from the footnote added to the accounting statements, we also feel it’s critical to remember this company is basically a re-invented company. A few weeks ago they made a major decision to drop utility boats (police, fire) and focus exclusively on performance boats. In our opinion it was a wise move, as that’s where they have an edge on the competition. However, we never thought it would be a perfect or easy transition. And, we don’t think anybody would say it has been. That’s just the way things are.
What’s interesting to us is how investors may be seeing a light at the end of the tunnel despite this quarter’s numbers. After sinking for the better part of the year, we’re finally seeing some interest in the stock. Granted, at only 4 cents, the limited risk may be part of the attraction. But, for the first time in weeks, we’re seeing some consistent activity above the 50 day moving average line. There still appears to be a cap at 4 cents, so some traders may want to see that nut cracked first before they decide to take the plunge.
Whats the word on these guys? Should we be waiting for orders to come in for next boating season,distribution contracts with guarantees, fulfilled orders, what?
Thanks a million. Your insight is greatly appreciated.
SD1527, There is at least one Convertible Debenture Agreement in place.
It's not very big, only $240K. But some folks I have reco'd this to won't touch it for that single reason.
It certainly doesn't look like they have tapped the CD to any degree, otherwise it would be reflected in the movement of the PPS, as you can usually spot CD-conversion trading patterns. On the contrary, it looks like they have made the hard choices to fix what was not working, instead of just relying on the CD to "float the boat".
You can read about the CD in the 10KSB of 4/14/06
http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=4097964&doc=1&num=41&total=6...
As you know trust is very important in small companies like this, and from what I can tell this company has top-notch management. I am sure they will execute. And did I mention the kick-azz product line?
I like this deal so I'm in for 200K shares.
Good Luck on your DD.
VV
Downs- few or no dealers yet.
- just starting new marketing and sales initiatives.
- no volatility.
Ups - low entry level.
- new management team with excellent credentials and experience.
- still undiscoverd or forgotten. when 1st dealers are signed, watch out.
- excellent, quality product.
- dumped emergency craft line. Now more focused.
This is my hidden gem. IMO, this will rock. How soon? Thats the real question.
XTME/Challenger, from what I have seen as a boating enthusiast provides high quality boats with custom features priced in a relatively affordable range for many boat owners in the related boat market segments. However, I am not sure if this is one that I want to play with. Any one have any feedback or comments on the potential ups and downs here?
From Team Gallagher website: http://www.tgor.net/whatsnew.html
Team Gallagher owner and throttleman Sean Gallagher has been invited by Challenger Powerboats to participate in their display at the Ft. Lauderdale International Boat Show from October 26-30, 2006. "It's quite an honor for me to be invited by the manufacturer of our offshore racing boat," said Sean. "The Ft. Lauderdale Boat Show is the premier boat show in the United States and the largest in the world, so I'm proud to represent our team and Challenger Powerboats at such a prestigious event," Sean added. Sean will be available all day Friday and in the morning on Saturday to sign autographs and talk about the superior performance of Team Gallagher's Challenger DDC-28 race boat.
The Challenger Powerboats display will be at the Sailfish Pavilion at the Broward County Convention Center, booth 4120. On display will be a stock Challenger DDC-28, a DDC-28 with a Mercury Racing HP600 SCi (similar in performance to Team Gallagher's offshore race boat), a DDC-33 with twin Mercury Racing HP525s and their mid-cabin open bow Family Performance Series, the 302 FPS.
The new DDC 33 with the twin Mercs will be featured at the Powerboat Magazine Performance Trial in Sarasota Fl on October 19.
Team Gallagher will be racing in Chattanooga 10/13-15.
Lot of exciting things are happening!!!
I've been in touch with HQ. They said that they are diligently recruiting new dealers and distributors. The new management team should have plenty of contacts to choose from,and with their vast experience,and should know which ones will be the best fit. Also, in the October issue of Soundings Trade, there is an article talking about the recent changes on the corporate level.
The Ft Lauderdale boat show is around the corner(10/26-30) and they are planning a big launch new FMS 302 and will also showcase the DDC33 with twin Merc 525's.
Not a pumper, but I see great things coming! This is a great entry level price to get on-board. Tell your friends!!!
Team Gallagher's next race will be the 2nd Annual Chattanooga Grand Prix and Speed Run in Chattanooga, Tennessee, October 13-15, 2006.
For those that don't know, Team Gallagher races in Challenger boats.
Stay tuned....
here is the PR stating the riddance of the mission specific product line:
August 14, 2006 - 4:37 PM EST
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Xtreme Announces 2nd Quarter Results; Outlines New Strategic Plan
WASHINGTON, Miss., Aug. 14 /PRNewswire/ -- Xtreme Companies, Inc. (OTC Bulletin Board: XTME) today announced its results for the quarter ended June 30, 2006. Revenue for the quarter ended June 30, 2006 was ($792,895) vs. $552,300 for the quarter ended June 30, 2005, due to adjustments. Net loss for the quarter ended June 30, 2006 was (.30) per share vs. (.03) per share for the quarter ended June 30, 2005. The Company's complete results can be viewed on its Form 10-QSB for the quarter ended June 30, 2006 by visiting www.sec.gov.
Xtreme CEO Laurie Phillips stated, 'Recently our new management team has made numerous strategic decisions, of which most importantly included the restructuring of our entire operation. It is our assessment that the Company's former management made a number of poor operational, tactical and financial decisions over the past year. To address these issues we've most recently:
* terminated contracts and agreements with non-performing outside
distributors which were harmful to both our short-term and long-term
growth.
* ceased production of the Fire-Rescue and Patrol boats and sold off
related assets to focus exclusively on the commercial production and
marketing of our Challenger Offshore line.
* reorganized our entire production line process and implemented tight
cost control measures in order to eliminate inefficiencies, reduce the
associated costs and significantly improve our margins.
* reduced the number of Challenger models offered in the near term from
29 to 6.
* begun to recruit well respected industry veterans to add to our talent
pool.
She added, 'Going forward in the near-term we plan to:
* continue with our aggressive recruiting in order to assemble a
top-tier, industry-leading management team.
* begin building a solid nationwide dealer and distribution channel.
* begin a full scale national marketing and branding campaign through
effective advertising and media placement.
* continue advancing on what we believe are our current technological
strengths and advantages relative to our competitors.
* showcase our 2007 models at the major national boat shows.
We have a superior offering and as such will compete at the higher end of both the sport cruiser and high performance markets. As a result of our aggressive strategy, we strongly believe that we can deliver solid and quantifiable progress to our shareholders sooner rather than later and look forward to a much improved second half of 2006.'
About Xtreme Companies, Inc.
they are long gone.
They're only building what they think they can make money with.
The old web site has completely disappeared.
And the new Challenger web site doesn't show any of the previous "mission specific" product line of small fire/rescue boats.
I wonder if those product lines are now gone.
VV
In inventory and ready to sell.
http://www.challengerpowerboats.com/inventory_main.cfm
Makes a wonderful Christmas present!!!!
Line up a few distributors/dealers, and we'll be ready to rock!!!
They seem to have a solid plan, start with a small base of products, and then grow accordingly. I'll admit that I was very concerned with the huge assortment of crafts that they offered in the past. A small company like this can't offer "everything for everybody" and expect to survive.
Side note: i watched one of their boats race down in Marathon a couple summers ago. I was very impressed, and that's what made me start following this stock. I jumped aboard early this summer. I really like the potential.
Man, I missed this completely...thanks for the updates...looks good I guess what they are trying to do...GLTA
Name change to "Challenger Powerboats."
XTREME COMPANIES INC: DEF 14C, Sub-Doc 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
INFORMATION STATEMENT
SCHEDULE 14C
(RULE 14C-101)
SCHEDULE 14C INFORMATION
INFORMATION STATEMENT PURSUANT TO SECTION 14(c)
OF THE SECURITIES EXCHANGE ACT OF 1934
Check the appropriate box:
[ ] Preliminary Information Statement
[ ] Confidential, for Use of the Commission Only (as permitted
by Rule 14c-5(d)(2))
[X] Definitive Information Statement
XTREME COMPANIES, INC.
(Name of Registrant As Specified in Charter)
Payment of Filing Fee (Check the appropriate box):
[X] No Fee required.
[ ] Fee computed on table below per Exchange Act Rules 14c-5(g) and 0-11.
(1) Title of each class of securities to which transaction applies: N/A
(2) Aggregate number of securities to which transaction applies: N/A
(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which filing fee is
calculated and state how it was determined): N/A
(4) Proposed maximum aggregate value of transaction:
(5) Total fee paid: None.
[ ] Fee paid previously with preliminary materials
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number, or
the Form or Schedule and the date of its filing.
(1) Amount Previously Paid: N/A
(2) Form, Schedule or Registration Statement No.: N/A
(3) Filing Party: N/A
(4) Date Filed: N/A
XTREME COMPANIES, INC.
300 WESTLINK DR.
WASHINGTON, MO 36090
(636) 390-9000
To Our Stockholders:
The purpose of this letter is to inform you that we intend to amend our Articles
of Incorporation, as amended, by written consent of our stockholders to change
our name to "Challenger Powerboats, Inc."
WE ARE NOT ASKING FOR YOUR PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY.
Because the written consent of a majority of stockholders satisfies any
applicable stockholder voting requirement of the Nevada Revised Statutes, our
Articles of Incorporation, as amended, and our By-Laws, we are not asking for a
proxy and you are not requested to send one.
The accompanying Information Statement is for information purposes only and
explains the terms of the amendment to our Articles of Incorporation, as
amended. Please read the accompanying Information Statement carefully.
By Order of the Board of Directors,
By: /s/ Laurie Phillips
----------------------------
Laurie Phillips
Chief Executive Officer
September 27, 2006
Xtreme Companies, Inc.
300 Westlink Drive
Washington, MO 63090
(636) 390-9000
INFORMATION STATEMENT
---------------------
WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY.
This Information Statement will be mailed on or about September 27, 2006 to the
stockholders of record of Xtreme Companies, Inc., at the close of business on
August 25, 2006 (the "Record Date"). This Information Statement is being sent
to you for information purposes only. No action is requested on your part.
This Information Statement is being furnished to our stockholders to inform you
of the adoption of a resolution by written consent by the holders of a majority
of the outstanding shares of our common stock, par value $0.001.
The resolution gives us the authority to amend our Articles of Incorporation, as
amended, to change our name to "Challenger Powerboats, Inc."
VOTING INFORMATION
As of the Record Date of August 25, 2006, we had authorized 100,000,000 shares
of common stock, of which 47,357,521 shares were issued and outstanding at
August 25, 2006. Each share of common stock has one vote.
A majority of votes representing 51.2% of votes cast by holders of our common
stock have executed a written consent in favor of the action to change our name
to "Challenger Powerboats, Inc."
This consent satisfies the stockholder approval requirement for the proposed
actions. Pursuant to Rule 14c-2 under the Securities Exchange Act of 1934, as
amended, the proposal will not be adopted until a date at least 20 days after
the date on which this Information Statement has been mailed to stockholders. We
anticipate that the action contemplated herein will be affected on or about the
close of business on October 17, 2006.
REASON FOR THE NAME CHANGE
We acquired Marine Holdings, Inc. d/b/a Challenger Offshore in February 2006.
Since that time we have focused our efforts on Challenger's primary markets as
we believe those markets offer the best opportunity for growth as a company. We
believe the Challenger brand is already well established in this area. This
name recognition will provide an advantage as our Company grows and we continue
to promote our products.
IMPLEMENTATION OF PROPOSAL
Our Board of Directors has adopted a resolution authorizing us to amend our
Articles of Incorporation, as amended, to change our name to "Challenger
Powerboats, Inc."
The currently outstanding stock certificates evidencing shares of our common
stock bearing the name "Xtreme Companies, Inc." will continue to be valid and
represent shares of our common stock following the name change. In the future,
new certificates will be issued bearing our new name, but this will not affect
the validity of your current stock certificates.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The following table sets forth certain information concerning the beneficial
ownership of our outstanding classes of stock as of September 14, 2006, by each
person known by us to own beneficially more than 5% of each class, by each of
our Directors and Executive Officers and by all Directors and Executive Officers
as a group. Unless otherwise indicated below, to our knowledge, all persons
listed below have sole voting and investment power with respect to their shares
of common stock except to the extent that authority is shared by spouses under
applicable law.
The number of shares of common stock issued and outstanding on September 14,
2006 was 50,707,521 shares. The calculation of percentage ownership for each
listed beneficial owner is based upon the number of shares of common stock
issued and outstanding on September 14, 2006, plus shares of common stock
subject to options, warrants and conversion rights held by such person on
September 14, 2006 and exercisable or convertible within 60 days thereafter.
NAME AND ADDRESS OF BENEFICIAL OWNER AMOUNT AND NATURE OF TOTAL PERCENTAGE
BENEFICIAL OWNER
Michael Novielli (a) 1110 Rt. 55,
Suite 206, LaGrangeville, NY 12540 238,806,184 91.8%
Barrett Evans (b) 301 East Ocean
Blvd., Suite 640, Long Beach, CA 90802 6,975,540 13.1%
Douglas Leighton (c) 50 Commonwealth Ave,
Suite 2, Boston, MA 02116 238,806,184 91.8%
Ted Smith (d) 50 Commonwealth Ave,
Suite 2, Boston, MA 02116 130,000 *
eFund Small-Cap. Fund LP(e) 301 East
Ocean Blvd, Suite 640, Long Beach, CA 90802 6,652,460 12.5%
Dutchess Private Equities Fund, LP (f)
50 Commonwealth Ave, Suite 2, Boston, MA 02116 96,801,323 72.7%
Dutchess Private Equities Fund, II, LP (g)
50 Commonwealth Ave, Suite 2, Boston, MA 02116 139,730,510 80.7%
All directors and current executive
officers as a group 238,936,184 91.8%
* Less than 1%
(a) Mr. Novielli is a member of our board of directors. The total number of
shares is comprised of 45,250 shares owned by Mr. Novielli, 9,834,711 shares
owned by Dutchess Private Equities Fund, L.P., 12,592,360 shares owned by
Dutchess Private Equities Fund II, L.P., 2,229,101 shares owned by Dutchess
Advisors, 86,966,612 shares issuable within 60 days to Dutchess Private Equities
Fund, L.P. pursuant to convertible debentures and 127,138,150 shares issuable
within 60 days to Dutchess Private Equities Fund II, L.P. pursuant to
convertible debentures. Mr. Novielli is a managing member of Dutchess Capital
Management, LLC, which acts as general partner to Dutchess Private Equities
Fund, LP, Dutchess Private Equities Fund II, LP, and Dutchess Advisors, LLC.
(b) The total number of shares is comprised of 2,267 shares owned by Mr. Evans,
320,813 shares owned by eFund Capital Partners, LLC and 4,172,460 shares owned
by eFund Small Cap Fund, LP., 240,000 shares issuable within 60 days to eFund
Small Cap Fund, LP pursuant to the exercise of warrants and 2,240,000 shares
issuable within 60 days to eFund Small Cap Fund, LP pursuant to convertible
debentures. Mr. Evans is the managing member of eFund Capital Partners, LLC
and eFund Small-Cap Fund, LP.
(c) Mr. Leighton is a member of our board of directors. The total number of
shares is comprised of 45,250 shares owned by Mr. Leighton, 9,834,711 shares
owned by Dutchess Private Equities Fund, L.P., 12,592,360 shares
owned by Dutchess Private Equities Fund II, L.P., 2,229,101 shares owned by
Dutchess Advisors, 86,966,612 shares issuable within 60 days to Dutchess Private
Equities Fund, L.P. pursuant to convertible debentures and 127,138,150 shares
issuable within 60 days to Dutchess Private Equities Fund II, L.P. pursuant to
convertible debentures. Mr. Leighton is a managing member of Dutchess Capital
Management, LLC, which acts as general partner to Dutchess Private Equities
Fund, LP, Dutchess Private Equities Fund II, LP, and Dutchess Advisors, LLC.
(d) Mr. Smith is a member of our board of directors. Mr. Smith has sole
voting and dispositive power of 130,000 shares.
(e) eFund Small Cap Fund, LP owns 4,172,460 shares of common stock, 240,000
shares of common stock issuable within 60 days pursuant to the exercise of
warrants, and 2,240,000 shares of common stock issuable within 60 days pursuant
to convertible debentures. eFund Small-Cap Fund, L.P. is controlled by Barrett
Evans. Mr. Evans is the Managing Partner of eFund Small-Cap Fund, L.P.
(f) Dutchess Private Equities Fund, LP, owns 9,834,711 shares and 86,966,612
shares issuable to Dutchess Private Equities Fund, L.P. within 60 days pursuant
to convertible debentures. Mr. Leighton and Mr. Novielli are managing members
of Dutchess Capital Management, LLC, which acts as general partner to Dutchess
Private Equities Fund, LP, and have sole voting and dispositive power over the
shares owned by Dutchess Private Equities Fund, LP.
(g) Dutchess Private Equities Fund II, L.P. owns 12,592,360 shares and
127,138,150 shares issuable to Dutchess Private Equities Fund II, L.P. within 60
days pursuant to convertible debentures. Mr. Leighton and Mr.Novielli are
managing members of Dutchess Capital Management, LLC, which acts as general
partner to Dutchess Private Equities Fund, II, LP, and have sole voting and
dispositive power over the shares owned by Dutchess Private Equities Fund, II,
LP.
COSTS AND MAILING
We will pay all costs associated with the distribution of this Information
Statement, including the costs of printing and mailing. We have asked or will
ask brokers and other custodians, nominees and fiduciaries to forward this
Information Statement to the beneficial owners of the common stock held of
record by such persons and will reimburse such persons for out-of-pocket
expenses incurred in forwarding such material.
EXHIBIT A
ARTICLES OF AMENDMENT
TO THE
ARTICLES OF INCORPORATION,
AS AMENDED
OF
XTREME COMPANIES, INC.
------------
Xtreme Companies, Inc., a corporation organized and existing under Nevada's
Revised Statutes (the "Corporation"), DOES HEREBY CERTIFY:
ONE: The following amendments of the Articles of Incorporation, as amended, were
approved by the shareholders of the corporation on August 28, 2006 in the manner
required by the Articles of Incorporation, as amended:
(1) RESOLVED, that Article First of the Articles of Incorporation, as amended,
of Xtreme Companies, Inc. is hereby amended to read as follows:
"FIRST: The name of the corporation is Challenger Powerboats, Inc."
TWO: The amendments to the Articles of Incorporation, as amended, herein
certified have been duly adopted in accordance with the provisions of Section
78.390 of the Nevada Revised Statutes.
IN WITNESS WHEREOF, the Corporation has caused this Amendment to the Articles of
Incorporation, as amended, to be signed by its duly authorized officer this
October __, 2006.
Xtreme Companies, Inc.
By:
----------------------------
Laurie Phillips
Chief Executive Officer
kickin new website:
http://www.challengerpowerboats.com/
XTME .037
Xtreme Retains Prestigious Firm for Challenger's National Marketing & Advertising Campaign
9/20/2006
WASHINGTON, Mo., Sept 20, 2006 /PRNewswire-FirstCall via COMTEX News Network/ --
Xtreme Companies, Inc. (OTC Bulletin Board: XTME) announced today that it has retained west coast based 'Media Direction' as its outside marketing and advertising counsel. Media Direction is a full-service advertising and public relations agency founded by Bob Brown, former Executive Editor of Powerboat Magazine.
Xtreme CEO Laurie Phillips stated, "Bob and the team at Media Direction have begun to lay out a comprehensive marketing and advertising campaign for the Challenger brand. The plan includes design, copy and strategy for ads in the major boating magazines, video, print catalog and web site production, as well as coordination of our participation in the national boat shows. By leveraging Bob's extensive relationships within the boating industry, we procured our first interview for a feature article in a major boating publication scheduled for release in the upcoming months. For this feature as well as others, Challenger boats are currently receiving a thorough vetting through third party independent testing and so far the feedback we've received has been extremely positive." She added, "With Media Direction, we continue to assemble the industry's best talent who share our vision of creating a world class brand."
Media Direction President Bob Brown commented, "I'm very impressed with the passion and tenacity that the Challenger organization has demonstrated for the marine industry. In a relatively short period of time, they've assembled a highly experienced and dedicated management team and have completed a remarkable amount of new product development. From my experience, these are the hallmarks of success in the marine business and the entire Media Direction organization looks forward with enthusiasm to participating in the ongoing development of the Challenger brand."
About Media Direction
Founded in 1979 by Bob Brown, former Executive Editor of Powerboat Magazine, Media Direction is a full-service advertising and public relations agency focusing on the recreational boating, destination travel and entertainment industries. Its clients include the Southern California Marine Association, the nation's largest regional trade organization.
About Xtreme Companies, Inc.
Xtreme Companies, Inc., produces high end, semi-custom fiberglass sport cruiser and high performance boats under the 'Challenger Powerboats' brand. Xtreme holds the exclusive rights to the revolutionary DDC hull for boats up to 40 feet in length. The DDC hull is a patented revolutionary design by world-renowned marine designer Harry Schoell, which incorporates two hulls into one, resulting in a constant planning surface enhancing stability and generating greater transom lift. This enables the hull to run faster in rougher seas while providing a dryer, safer and more comfortable ride.
XTME Team Gallagher Places 2nd At Panama City Beach Racing Challenger DDC-28
PR Newswire - September 14, 2006 7:01 AM (EDT)
WASHINGTON, Mo., Sep 14, 2006 /PRNewswire-FirstCall via COMTEX/ -- Xtreme Companies, Inc. (OTC Bulletin Board: XTME) announced today that its official race team 'Team Gallagher', which races a Challenger DDC-28, placed 2nd at Panama City Beach, FL on August 20. This comes on the heels of Team Gallagher's 2nd place finish at the Hollywood Beach Super Boat Grand Prix in June.
Team Gallagher Owner Sean Gallagher stated, "We're on a roll and to consistently finish in the top three, demonstrates that our Challenger Offshore race boat is as competitive as any other boat out there. We're proud to have the support of Challenger and already other race teams are starting to take notice of our team, our boat and our accomplishments." He added, "As a team, we are proving that we have what it takes to be competitive at the highest level and succeed at campaigning our Challenger race boat on the offshore racing circuit."
Xtreme CEO Laurie Phillips commented, "It's no wonder why we are proud to have Team Gallagher as our official race team. I believe their continued success while representing and racing a Challenger speaks volumes as to their talents as well as the outstanding quality and performance of our boats. We look forward to our continued partnership with them and wish them well with the remainder of their races this year."
In 2005 while racing the Challenger DDC-28, Team Gallagher finished first in the P-5 Offshore Class of the Marathon, Florida Grand Prix and set a course speed record at the Chattanooga Offshore Grand Prix as well.
About Team Gallagher
Ft. Walton Beach, FL-based Team Gallagher is one of over 85 teams that run the offshore racing circuit with Super Boat International Productions (SBIP) and the American Power Boat Association (APBA) (www.superboat.com). SBIP/APBA organizes and promotes over 15 races each year along the East and Gulf Coasts of the United States, to include a few inland races on large lakes and rivers. These races attract anywhere from 20,000 to 100,000 spectators and are also enjoyed by those listening to live local radio broadcasts or watching delayed telecast schedules on the Fox Sports Net. For further information regarding Team Gallagher please visit http://www.tgor.net/whatsnew.html.
About Xtreme Companies, Inc.
Xtreme Companies, Inc., produces high end, semi-custom fiberglass sport cruiser and high performance boats under the 'Challenger Powerboats' brand. Xtreme holds the exclusive rights to the revolutionary DDC hull for boats up to 40 feet in length. The DDC hull is a patented revolutionary design by world-renowned marine designer Harry Schoell, which incorporates two hulls into one, resulting in a constant planning surface enhancing stability and generating greater transom lift. This enables the hull to run faster in rougher seas while providing a dry, safe and more comfortable ride.
For more information you may visit www.xtremecos.com and www.challengeroffshore.com. Xtreme's public financial information and filings can be viewed at www.sec.gov.
Forward-Looking Statements
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
Contact: Michael Novielli
Chairman, Xtreme Companies, Inc.
ph (845)575-6770
mnovielli@xtremecos.com
SOURCE Xtreme Companies, Inc.
Michael Novielli, Chairman of Xtreme Companies, Inc., +1-845-575-6770,
mnovielli@xtremecos.com
From Small Cap Digest:
Xtreme Brings Aboard a Proven Boat Sales Expert as Sales Manager
Filed under: General XTME— SmallCapNetwork Editor @ 6:43 am
Remember last week when we told you about some of the exciting changes Xtreme Companies (OTCBB: XTME) was undergoing? One of them was the acquisition of proven personnel. At the time, we were referring to the addition of Jack Clark as the new Chief Operating Officer. However, we also mentioned some other pending personnel changes. Well, today Xtreme announced another victory in the personnel department - by naming Jeff Gayer as the company’s National Sales Manager.
Who’s Jeff Gayer, and is he really any different than any other sales manager? To answer the second question first, yes, he’s uniquely well-suited for the job. As for why, the answer to the first question is the best response…Jeff Gayer has years of experience as a group sales executive with Brunswick, which just happens to be the world’s largest manufacturer of pleasure boats. So, we have no doubt he’s got the right experience to handle the job magnificently at Xtreme. But from our perspective, the skill set and experience isn’t even the exciting part…think of all the industry contacts he already has! He really won’t have to break new ground when he introduces the new Challenger boat line to dealers. It may not seem like a big deal, but trust us, in the high-end ‘toy’ world, who you know can be as important what you know.
As far as the stock is concerned, we still like it as a speculative play. Currently priced at 4 cents, there’s not a lot of downside relative to the potential upside. And, we figure most of the current pricing is a reflection of the Xtreme from last year…the Xtreme that wasn’t focused solely on sport and performance boats, the Xtreme without Jack Clark, and the company without a proven sales manager. The new Xtreme, however, is/has all of those things, and more.
VV, I'm starting to get excited about this stock again. I've averged down quite a bit over the last 6 months and was ready to call it a day. I think you can now call me a "re-invigorated" long. I even added today. Feelin good.
Screamer, I hope the Longs here will take the time to read the New Guy's bio.
When it comes to the boat biz, Jeff Gayer really seems to have been around. The list of his previous employers is like the Who's Who of pleasure boating. And then there are his government contacts.
As you said "...starting to fit together..."
VV
Pieces are starting to fit together. Looking good:
All PRNewswire NewsWASHINGTON, Mo., Sept. 12 /PRNewswire-FirstCall/ -- Xtreme Companies, Inc. (OTC Bulletin Board: XTME) announced today that former Brunswick Boat Group sales executive Jeff Gayer has been appointed as the Company's new National Sales Manager. Brunswick is the world's largest manufacturer of pleasure boats, which includes brands such as Sea Ray, Bayliner, Boston Whaler and Baja.
Xtreme CEO Laurie Phillips stated, "To fill the position of National Sales Manager, we searched long and hard for an individual with significant boat sales experience and who also possessed established dealer relationships both domestically and internationally. Jeff brings with him years of experience in developing and managing an extensive dealer network for leading worldwide boat manufacturers." She added, "The timing of his addition to our new team is perfect. We are in the midst of finalizing our sales and marketing plan for the upcoming model year and can now hit the ground running as we begin introducing the 2007 Challenger line to a national dealer network."
Mr. Gayer commented, "I am excited to be joining this new and dynamic management team at Xtreme. It was evident to me that as a result of the recent restructuring, the organization has quickly become re-energized and is dedicated to creating quality, consumer satisfaction and loyalty. He added, "The initial response from dealers regarding our 2007 line up has been very encouraging. I look forward to leveraging my experience and relationships into the development of an extensive and productive distribution channel for Challenger Powerboats."
Prior to joining Xtreme, Mr. Gayer was Brunswick's Commercial and Government Division Sales Manager reporting directly to the President, responsible for both domestic and international sales within the division. Prior to his tenure with Brunswick, he was Regional Sales Manager for Boston Whaler where he was responsible for developing and maintaining their U.S. dealer network. His marine experience also includes tenure with the State of Kansas Department of Wildlife where he headed the state boating organization and was commissioned on legislative committees which established state boating laws and regulations.
About Xtreme Companies, Inc.
Xtreme Companies, Inc., produces high end, semi-custom fiberglass sport cruiser and high performance boats under the 'Challenger Powerboats' brand. Xtreme holds the exclusive rights to the revolutionary DDC hull for boats up to 40 feet in length. The DDC hull is a patented revolutionary design by world-renowned marine designer Harry Schoell, which incorporates two hulls into one, resulting in a constant planning surface enhancing stability and generating greater transom lift. This enables the hull to run faster in rougher seas while providing a dry, safe and more comfortable ride.
bounced off of the RSI being oversold very nice
This thing just might rise from the ashes after all. I'm sure he will be bringing a lot of contacts(i.e. distributors) along with him. I think I'll hold on to my shares after all. (It was close though).
Xtreme Appoints Former Fountain Powerboats Executive as Chief Operating Officer
WASHINGTON, Mo., Sept 06, 2006 /PRNewswire-FirstCall via COMTEX/ -- Xtreme Companies, Inc. (XTME) announced today that former Fountain Powerboat Industries COO Jack Clark has been appointed as Xtreme's new Chief Operating Officer. Mr. Clark served as Fountain's Chief Operating Officer from 2002 to 2005. Fountain is one of the leading manufacturers of high performance powerboats in the world.
Xtreme CEO Laurie Phillips stated, "Having worked informally with Jack as we restructured our organization over the past several months, it quickly became clear that we were a perfect match for one another. His in-depth knowledge, established relationships and years of experience as a senior executive in the boating industry fit seamlessly with our mission and new direction. She added, "One of our recently stated primary initiatives was to begin assembling some of the best talent in the industry. We couldn't have gotten off to a better start."
Mr. Clark commented, "Working with the Xtreme team over the past few months has been exciting. The Company is committed to building a quality product, distribution network, and organization that delivers value. I believe that the new boats that are being engineered and tooled now, will move the Company to a new level of customer satisfaction in performance, sales, and service. With this being the stated and demonstrated goals of the organization, I am pleased to join the Xtreme management team."
Prior to joining Xtreme, Mr. Clark was most recently a consultant to the Sea Swirl Boats Division of Genmar, one of the largest boat manufacturers in the world. In addition to his tenure at Fountain, his 40 years of experience in the boating industry included tenure as GM/VP Donzi Marine, VP Operations Glaston-Carlson Boats and start-up Plant Manager with Bayliner Marine Corp.
About Xtreme Companies, Inc.
Xtreme Companies, Inc., produces high end, semi-custom sport cruiser and high performance boats under the 'Challenger Performance' brand. Xtreme holds the exclusive rights to the revolutionary DDC hull for boats up to 40 feet in length. The DDC hull is a patented revolutionary design by world-renowned marine designer Harry Schoell, which incorporates two hulls into one, resulting in a constant planning surface enhancing stability and generating greater transom lift. This enables the hull to run faster in rougher seas while providing a dry, safe and more comfortable ride.
I agree with you--just found this stock this morning and hope to buy on Monday after I do a little more homework, but I note that the market cap is only $1.51 million while the enterprise value is $12.83 million...the stock sure seems unvalued at 6 cents.
The "E" has been removed. I just found this stock and think it is a very interesting play. Looks like it could be ready to reverse it's trend.
GLTA
Wally
XTME -- Xtreme Companies, Inc.
Com ($0.001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Xtreme Companies Posts Record First Quarter Results
WASHINGTON, Mo., June 6, 2006 /PRNewswire-FirstCall via COMTEX/ -- Xtreme Companies, Inc. (OTC Bulletin Board: XTME) (OTC Bulletin Board: XTMEE) today announced its financials results for the first quarter of 2006. Revenue for the quarter ended March 31, 2006 was $758,590 vs. $68,000 for the quarter ended March 31, 2005, an increase of more than 1,000%. The increase in revenue was due in part to the Company's acquisition of Marine Holdings, Inc. d/b/a Challenger Offshore. Net loss for the quarter ended March 31, 2006 decreased to (.06) from (.0 for the quarter ended March 31, 2005. The Company's complete results can be viewed on its Form 10-QSB by visiting www.sec.gov.
Xtreme CEO Laurie Phillips stated, "While we are pleased with the significant increase in our top line vs. last year, we are by no means satisfied. We have begun to implement initiatives which we believe are critical for us to achieve accelerated revenue growth and transition to positive cash flow and profitability. The two primary areas we've targeted are; lowering our product costs by identifying and improving on the inefficiencies in our production process as well as increasing our ability to generate scale with a national footprint by aggressively expanding our dealer network."
She added, "The initial reaction from dealers so far has been extremely positive as they await production of our 2007 models. We look forward to improving upon our performance during the remainder of this year and are very excited about our opportunities as we progress into 2007."
As a result of the Company's filing of its Form-10QSB, it is expected that the trading symbol will revert back to "XTME" from 'XTMEE" within several days.
About Xtreme Companies, Inc.
Xtreme Companies, Inc., produces commercial semi-custom fiberglass boats which include leisure, high performance, and fishing models under the 'Challenger Offshore' brand. Internationally known boat racer and designer Don Aronow, credited as being the architect of the performance boat industry, along with Harry Schoell, world-renowned marine engineer, designed and created some of the hull technologies today used by Challenger Offshore.
Xtreme holds the exclusive rights to the revolutionary DDC hull for boats up to 40 feet in length. The DDC hull is a patented revolutionary design which incorporates two hulls into one, resulting in a constant planning surface enhancing stability and generating greater transom lift. This enables the hull to run faster in rougher seas while providing a dry, safe and more comfortable ride.
For more information you may visit http://www.xtremecos.com and http://www.challengeroffshore.com. Xtreme's public financial information and filings can be viewed at http://www.sec.gov.
Forward-Looking Statements
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
Contact: Michael Novielli
Chairman, Xtreme Companies, Inc.
ph (845)575-6770
mnovielli@xtremecos.com
SOURCE Xtreme Companies, Inc.
CONTACT: Michael Novielli, Chairman, Xtreme Companies, Inc., +1-845-575-6770,
mnovielli@xtremecos.com
URL: http://www.prnewswire.com
http://www.xtremecos.com
www.prnewswire.com
Copyright (C) 2006 PR Newswire. All rights reserved
FRPT rocking up and down today, set to go higher imho...
G_S invite this guy to post at IHUB FRPT board and it will get going...fwiw...hogs http://ragingbull.lycos.com/mboard/boards.cgi?board=FRPT&read=68836
iseeit
Hi lakes...I have been in and out of AMEP... Until I see something good from them I will stay away...hope you had a good weekend and GLTY
Gateway......hope you enjoyed your long weekend at the lake (s). Yup, Xtreme has been in a steady decline and the late filing certainly does not help. I wonder if Ryan screwed this up and they had to bump the CFO up the ladder to straighten it out. This company is frustrating because they seem to have good products (patrol boats) but can't seem to sell them.
I noticed your link to oil and gas companies thread. Nice info. Any comment on AMEP? That is one frustrating company as they appear to be sitting on a lot of potential wealth but they can't get out of their own way.
And on top of the steady decline...man oh man....One thing that has always got me lakes is how companies can't file on time...I mean, really!
oh well, I like your name 'lakes' and in about 2 hours I am headed to the lakes for the long weekend
Loks like they got the dreaded "E". Sure hope it comes off soon.
SERG: Star Energy Engages Swiss Private Placement Agent
Monday May 15, 3:00 am ET
SALT LAKE CITY--(BUSINESS WIRE)--May 15, 2006--Star Energy Corporation ("Star") (OTCBB:SERG - News) today announced the engagement of First Capital Invest Corp. as lead placement agent in a private equity offering of Star common stock. Star intends to offer units comprised of common stock and purchase warrants to realize $3,500,000. Proceeds of the offering are to be used to finance Star's initial obligations to develop the Mohican River field pursuant to a letter of intent with Terrabyte, LLC.
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First Capital Invest Corp. is an investment banking and management consulting firm based in Zurich, Switzerland, that introduces small public companies to prospective investors interested in debt and equity private placements.
Star intends to acquire Terrabyte, LLC. (www.terrabytellc.com), an oil and gas exploration company which is positioned to initiate an enhanced secondary recovery water flood development to produce oil from the Mohican River field located in the vicinity of the Perry Township in Ashland County, Ohio. The acquisition remains subject to Star's satisfaction of certain financing commitments and the execution of a definitive agreement.
Star is an independent oil and gas company involved in the exploration, development, production and sale of oil and natural gas.
Xtreme Companies Appoints New Chief Executive Officer
Monday May 15, 7:16 am ET
WASHINGTON, Mo., May 15 /PRNewswire-FirstCall/ -- Xtreme Companies, Inc. (OTC Bulletin Board: XTME - News) today announced that its CFO Laurie Phillips has been appointed Chief Executive Officer. Kevin Ryan has resigned his position as CEO and Director to pursue other opportunities. Mike Thomas was also promoted to VP of Operations and Manufacturing.
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Xtreme Chairman Michael Novielli stated, "We would like to thank Kevin for his past contributions to Xtreme. Having now fully assimilated the Challenger acquisition, our Board of Directors felt that the CEO position required an individual with substantial manufacturing and assembly experience to lead the Company to the next plateau. Laurie's performance as our CFO for the past year has been outstanding. She possesses a thorough knowledge of finance and management as well as an in depth understanding of the marketing and sales processes. Given her prior experience directing a manufacturing and assembly organization with over 200 employees, I have no doubt that we can achieve our mission of establishing Challenger Offshore as a well recognized and respected niche player at the premium end of the performance and pleasure boat market."
Incoming Xtreme CEO Laurie Phillips commented, "I am looking forward to this challenge and believe we have a significant opportunity to grow Challenger Offshore into a brand in which our shareholders, investors, employees and customers can all be proud of. My mandate from the Board of Directors is clear, and that is to focus on creating maximum efficiencies in our processes, so we can rapidly grow market share as we transition to positive cash flow and profitability."
Prior to her tenure at Xtreme, Ms. Phillips was employed for twelve years with Ace Electric. Prior to its acquisition, Ace was one of the largest suppliers serving the U.S. automotive aftermarket. After serving as Ace's CFO for four years, she was promoted in 2001 to VP and General Manager, responsible for overseeing the company's entire operation and its 200+ employees. She is a certified public accountant and received her BS in Accounting from Pittsburg State University in Kansas.
Mr. Thomas joined Xtreme in April of 2005. Prior to his tenure at the Company, he spent over twenty years in the marine industry, beginning at Caterpillar Marine where he was instrumental in developing a partnership with an industry leader Carver Yachts, and subsequently became their production manager. He was also employed by pleasure boat concern Larson Boats, overseeing the successful startup of a new operations plant. Additionally, Mr. Thomas was a Sr. Financial Auditor with Transamerica Business Credit Corp. where he audited manufacturing companies with credit limits up to $500 million including the makers of Calvin Klein and Giorgio Armani clothing.
About Xtreme Companies, Inc.
Xtreme Companies, Inc., produces commercial semi-custom fiberglass boats which include leisure, high performance, and fishing models under the 'Challenger Offshore' brand. Internationally known boat racer and designer Don Aronow, credited as being the architect of the performance boat industry, along with Harry Schoell, world-renowned marine engineer, designed and created some of the hull technologies today used by Challenger Offshore.
Xtreme holds the exclusive rights to the revolutionary DDC hull for boats up to 40 feet in length. The DDC hull is a patented revolutionary design which incorporates two hulls into one, resulting in a constant planning surface enhancing stability and generating greater transom lift. This enables the hull to run faster in rougher seas while providing a dry, safe and more comfortable ride.
For more information you may visit www.xtremecos.com and www.challengeroffshore.com. Xtreme's public financial information and filings can be viewed at www.sec.gov.
Form 8-K for XTREME COMPANIES INC
12-May-2006
Change in Directors or Principal Officers
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTOR; APPOINTMENT OF PRINCIPAL OFFICERS.
On May 10, 2006, our Board of Directors accepted the resignation of Kevin Ryan as our Chief Executive Officer and Director. Also on May 10, 2006, our Board of Directors appointed our Chief Financial Officer, Laurie Phillips, to the position of Chief Executive Officer effective immediately. Ms. Phillips will also continue to serve as Interim Chief Financial Officer until a permanent replacement is hired.
This report may contain forward-looking statements that involve risks and uncertainties. We generally use words such as "believe," "may," "could," "will," "intend," "expect," "anticipate," "plan," and similar expressions to identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described below and elsewhere in this report. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
EXHIBIT NUMBER DESCRIPTION
--------------- -----------
17.1 Resignation letter of Kevin Ryan effective May 10, 2006.
why doesn't this thing ever move???? Up during the day, then right back down...!!! CRAP :(
Xtreme Posts Record Revenue for 4th Quarter & FY 2005
Friday April 14, 6:32 pm ET
WASHINGTON, Mo., April 14 /PRNewswire-FirstCall/ -- Xtreme Companies, Inc. (OTC Bulletin Board: XTME - News) today announced record revenue for both the fourth quarter and full year 2005. Revenue for both the three month and twelve month periods ended December 31, 2005 was $828,655 and $1,783,626 respectively, a significant increase vs. $53,860 and $164,712 for the same periods in 2004. Net loss for both the three month and twelve month periods ended December 31, 2005 was (.02) and (.14) per share respectively vs. (.02) and (.21) for the same periods in 2004. The Company's complete results can be viewed on its Form 10-KSB by visiting www.sec.gov.
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Xtreme CEO Kevin Ryan stated, "Although 2005 was a year of significant transition, I am pleased that we could still report to our shareholders a year of record top line growth. Additionally, having officially closed on the Challenger acquisition in March, we will look to further those gains in 2006, as well as continuing to focus aggressively on increasing our production efficiency which we believe will assist us in achieving positive cash flow and profitability over the intermediate term."
About Xtreme Companies, Inc.
Xtreme Companies, Inc. produces first responder Fire-Rescue and Patrol boats used in emergency, surveillance and defense deployments as well as commercial semi-custom fiberglass boats of 19' to 97' in length, which include leisure, high performance, fishing and motor yachts under the 'Challenger Offshore' brand. Internationally known boat racer and designer Don Aronow, credited as being the architect of the performance boat industry, along with Harry Schoell, world-renowned marine engineer, designed and created some of the hull technologies today used by Challenger Offshore.
Xtreme also holds the exclusive rights to the revolutionary DDC hull for boats up to 40 feet in length. The DDC hull is a patented revolutionary design which incorporates two hulls into one, resulting in a constant planning surface enhancing stability and generating greater transom lift. This enables the hull to run faster in rougher seas while providing a dry, safe and comfortable ride.
For more information you may visit www.xtremecos.com and www.challengeroffshore.com. Xtreme's public financial information and filings can be viewed at www.sec.gov.
Eventually the trend will change, too many good things happening with this company.
It sure seems stuck in this range. Have you noticed the large after hours buys recently? We may be under accumulation...
Then again, there seemed to be a large after hours sell yesterday.
Keeps on this downward trend?
Xtreme Announces Additional $340,000 Order From Wayton Marine
Monday March 27, 6:44 am ET
WASHINGTON, Mo., March 27 /PRNewswire-FirstCall/ -- Xtreme Companies, Inc. (OTC Bulletin Board: XTME - News) today announced that it has received an additional order from Wayton Marine International for three of its DDC hull high performance Challenger Offshore boats. The value of the order is approximately $340,000.
http://biz.yahoo.com/prnews/060327/nym122.html?.v=35
Form 8-K for XTREME COMPANIES INC
--------------------------------------------------------------------------------
6-Mar-2006
Entry into Material Agreement
Item 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On February 28, 2006 we acquired all of the stock of Marine Holdings, Inc. d/b/a Challenger, a semi-custom boat manufacturer. In exchange for $4.3 million in cash, we received the challenger business and assets including a gross order backlog of $1.6 million, boat inventory, boat molds and real estate which includes Challenger's 65,000 square foot boat manufacturing facility located on 12 acres in Washington, MO.
The foregoing description of the terms and conditions of the contract is qualified in its entirety by, and made subject to, the more complete information set forth in the Stock Acquisition Agreement filed as exhibit 10.1 and the Real Property Sale Contract filed as Exhibit 10.2, and incorporated herewith.
This report may contain forward-looking statements that involve risks and uncertainties. We generally use words such as "believe," "may," "could," "will," "intend," "expect," "anticipate," "plan," and similar expressions to identify forward-looking statements. You should not place undue reliance on these forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described below and elsewhere in this report. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
Xtreme Companies Announces Fire-Rescue Boat Sale to Connecticut Fire Dept.
Monday March 6, 7:54 am ET
WASHINGTON, Mo., March 6 /PRNewswire-FirstCall/ -- Xtreme Companies, Inc. (OTC Bulletin Board: XTME - News) today announced the sale of a first responder Fire-Rescue Boat to the Squantz Engine Fire Company located in New Fairfield, CT. The sales price of the boat was approximately $70,000.
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Squantz Engine Fire Company Chief Pete Benzinger stated, "Our fire department tested many fireboats available in the marketplace today and found Xtreme's to be the best all around, multi-purpose marine craft. Its stability and maneuverability were superior to that of its competitors and we are confident that it will serve our purposes well."
Xtreme CEO Kevin Ryan added, "We are pleased that Squantz Engine Fire Company chose us as their first responder marine craft of choice. Additionally, this order provides us with the further expansion of our footprint into the Northeast where we believe we can capture significant market share across all of our lines."
About Xtreme Companies, Inc.
Xtreme Companies, Inc. is engaged in the production of first responder Fire-Rescue and Patrol boats used in emergency, surveillance and defense deployments as well as the commercial production of semi-custom fiberglass boats of 19' to 97' in length, which include leisure, high performance, fishing and motor yachts under the 'Challenger Offshore' brand. Challenger Offshore is best known for products that compete directly with the industry's largest boat producers. Internationally known boat racer and designer Don Aronow, credited as being the architect of the performance boat industry, along with Harry Schoell, world-renowned marine engineer, designed and created some of the hull technologies today used by Challenger Offshore. Mr. Aronow has also been credited with creating companies such as Cigarette, Donzi, Formula, Apache and Magnum. Xtreme also holds the exclusive rights to a revolutionary hull technology for boats 40 feet in length and under.
For more information you may visit http://www.xtremecos.com and http://www.challengeroffshore.com. Xtreme's public financial information and filings can be viewed at http://www.sec.gov.
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