Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
MNCS news:
Manchester, Inc. Acquires Nice Cars, Inc. & Nice Cars Capital Acceptance Corp.
2006-10-06 16:26 ET - News Release
DALLAS, Oct. 6 /PRNewswire-FirstCall/ -- Manchester, Inc. today announced they have completed the acquisition of Nice Cars, Inc., a privately held Buy-Here/Pay-Here auto dealership as well as its affiliate Nice Cars Capital Acceptance Corporation, a credit acceptance company.
Under the terms of the agreement, Manchester, Inc. paid an aggregate of $25 million in cash and issued 6.25 million shares of the Company's common stock to the previous owners of the two entities, aggregating to a total value of $72.5 million based upon the average trading price of the Company's common stock on the day of Closing.. In addition, the owners of these entities will receive 5 year employment contracts to continue running the dealerships. The Company financed the cash portion of the purchase price through the utilization of its $300 million credit facility.
James A. Worosz, Senior VP-Finance, Manchester, said, "Nice Cars is the first acquisition under our strategic business plan to become the leader in the Buy-Here/Pay-Here automotive segment of the used car industry. Nice Cars showed strong growth in sales and operating income for both entities during 2005 and we expect them to significantly contribute to both our top and bottom lines going forward." The Company also stated that they are currently pursuing a number of additional acquisitions and they expect to announce them in the near future.
Ray Lyle, of Nice Cars, Inc. stated, "We couldn't be more excited about teaming up with Manchester. This partnership will permit us to focus totally on selling cars and expanding our business. It addresses reduction of personal liability, liquidity, and provides a stable supply of capital, all issues important to all dealers in this business. We will also work with Manchester to introduce dealerships that might be appropriate acquisition considerations as they continue to grow their Buy Here/Pay Here family of companies."
Under the terms of the Nice Cars acquisition agreement, the Company has arranged to cancel 6.6 million shares of third party restricted common stock as of the same date as the acquisition of Nice Cars and in exchange will register 6.6 million remaining shares of third party restricted common stock in October 2007. Upon completion of this acquisition; the Company has approximately 33 million shares issued and outstanding.
Manchester, Inc. also announced the retirement of Mr. Herbert Hirsh from the Board of Directors of the Company. The Company is seeking a replacement and expects to fill this position very shortly.
About Nice Cars
Nice Cars, Inc. headquartered in Chattanooga, Tennessee, operates six automotive sales lots that focus exclusively on the Buy-Here/Pay-Here segment of the used car market. Buy-Here/Pay-Here dealerships sell and finance used cars to individuals with limited credit histories or past credit problems. Nice Cars recorded sales of approximately $76 million for the year ended December 31, 2005, compared to sales of approximately $57 million for the same period in 2004. It recorded sales of $9.3 million for the month of September 2006 resulting in a current annualized run rate of $112 million. In addition, it has recently opened a mega lot in Atlanta and expects to grow from six lots to nine lots within ninety days, thereby fostering additional significant growth. In addition to the operations that continually generate new receivables, the acquisition included more than $100 million in existing accounts receivable.
Nice Cars Acceptance is a financial services affiliate of Nice Cars, Inc. that purchases the retail sales contracts of Nice Cars, Inc. and assumes all rights and responsibilities with respect to sales contracts with varying terms, generally ranging from 24-48 months. Mr. Ray Lyle, the principal shareholder of Nice Cars prior to the acquisition, is well known in the industry and has won several awards. He was elected National Quality Dealer of the Year in 2005 by the 22,000 member National Independent Auto Dealers Association. Most recently, the Chattanooga Free Press named Nice Cars the "Best Used Car Dealer" in their market area survey of all new and pre-owned dealers. He is a featured speaker at the National Buy Here Pay Here and Special Finance conference in Las Vegas this weekend that is to be attended by over 2,000 dealers.
About Manchester, Inc.
Manchester, Inc. headquartered in Dallas, Texas, seeks to create the preeminent company in the Buy-Here/Pay-Here auto business selling and financing used vehicles to credit-impaired borrowers. The Company intends to sell acquired and newly generated portfolios through a securitization process thereby permitting the Company to continue its growth, and pay down its revolving credit facilities before the customers pay off their loans.
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial, and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Manchester cannot provide assurances that any prospective matters described in the press release will be successfully completed or that the Company will realize the anticipated benefits of any transactions. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential from war or other hostilities in other parts of the world; availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the Company's ability to retain key management and employees; intense competition and the Company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Manchester SEC filings. Manchester undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with the business of Manchester, please refer to the risks and uncertainties detailed in the Manchester SEC filings.
Manchester, Inc.
CONTACT: Bob Leahy of Financial Relations Board, +1-212-827-3770,
bleahy@frbir.com
Thanks EZ
This looks a penny is written all over this, moving much easier now
MNCS what a freakin ride this has been!!!!!!!!!!!
Me too, almost traded the float last 2 days
BZCN 2.43 close at high of the day...enjoying the ride :))
I would say a close of 2.06 could be considered interesting :))
FGAM weeeeeeeeee
WWEG is off the hook, I am loving the ride :))
Icing up the pool, NOW THAT IS HOT!!!
I have not been watching the market much at all, check in once a day if I have time.
Yeah, we'll have to catch up one of these days.
All the best,
Shawn
Ps: I see some is buying up our restaurant chain stock
Hi Lazarus, how have you been keeping old buddy? I see your in a heat wave. Been pretty smoking up here too, out by the pool every day. I love it hot, just came back from Vegas a few weeks back...had lots of fun in the heat.
http://weather.cnn.com/weather/forecast.jsp?locCode=YXH
Hope all is well, how is the family?
As far as stocks go, I still miss the good old days, but I keep pluggin away.
Cheers,
Shawn
ETLC on the move .12 looking for a big move here
AOGS may be next
Buying FGAM at .18 and .19 bottom play
Back in AOGS at .12 and ETLC at .08
Buying UPDA at .174 a must see chat IMO
Sweet let her run!!!!
AOGS .186 :)))))))))))
Thanks going higher than I even thought.
AOGS .055 :)
AGHG now 1.47 :)
ATWEC Technologies Reports Increased Sales of KiddieVoice(TM) System in 2006
2006-03-09 12:50 ET - News Release
MEMPHIS, TN -- (MARKET WIRE) -- 03/09/06
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=112686&ProfileId=051205&sourceType=1" target="_blank">http://media.marketwire.com/attachments/200603/248595_logo.jpghttp://at.marketwire.com/accesstrackin...
ATWEC Technologies, Inc. (OTC: ATWT) announced today that it has experienced a significant increase in orders and sales thus far in 2006 for the Company's revolutionary KiddieVoice(TM) child safety system. The Company sold and installed upwards of 400 units in 2005, a 300% increase from 2004, however according to CEO and President, Alex T. Wiley, ATWEC is expected to "...blow through last year's numbers for our KiddieVoice(TM) system by the end of the second quarter of fiscal year 2006". In addition to the KiddieVoice(TM), the Company is planning to roll-out similar child safety products, as well as related safety and security-oriented products -- that will target additional markets -- later this year.
"This tremendous increase in market demand for our KiddieVoice(TM) system is mostly due to the new and amended legislation that was enacted last year in both Tennessee and Arkansas," remarked the resolute President and CEO. "In both states, child care centers and pre-schools that provide transportation services to children must retro-fit their vehicles to comply with the new regulations. We were quite pleased that our efforts to make it on the approved vendor list for both states have paid off for the Company."
Both the Department of Health and Human Services for the State of Arkansas, and the Department of Human Services for Tennessee, list ATWEC Technologies' KiddieVoice(TM) system as an approved child safety system to satisfy these new requirements.
"The future for ATWEC, and our underlying mission of ensuring our children's safety, looks as bright as ever, as legislators within all fifty states are beginning to hear the message. While a child left unattended on a bus or in a child care van is not the most common occurrence, it does happen never-the-less," added CEO Wiley, "and one time per year, is one time too many."
ATWEC Technolohies' KiddieVoice(TM) has -- to date -- been installed in buses and/or vans in Tennessee, Arkansas, Mississippi, Lousiana and Wisconsin. ATWEC Technologies is proud to offer the highest quality and most durable child safety products in the industry. More information on ATWEC Technologies can be found on the Company's official website: www.atwec.com.
NOTE: Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions, risk in product development, market acceptance of new products and continuing product demand, level of competition and other factors described in Company reports and other filings with regulatory bodies.
Investor Relations:
Equititrend Advisors LLC
(800) 585-6988
(858) 436-3350 local or international
Buying TPBV at .0042
Buying AGHG at 1.05 to 1.20 float is very small
Buying ATWT today at .005 to .008
In AVST this morning .012
Nice call, keep posting I will wake up on your next one ;)
LFDG .35 x .37 :))
In CCWW at .0045 and .005 hearing a move may be coming for this one, sure is cheap enough.
One to watch LFDG at .15 bottom play small float
I guess I am just out of the loop, as I have been out for so long. That's great though, because if its that good that means you must be making some real nice profits :))
Hi Mary,
I am doing great thanks, can you believe my little girl turned 4 on Thursday...time flys.
Making any bank these days in this tough OTC market?
Been on the sidelines for about 8 months, nibbling on a few.
Sell at the ask and put the screws to the Market Makers ;)
Regards,
Shawn
In LFDG today at .15 - .17 nice bottom play, yesterday's news:
LitFunding Acquires Easy Money Express
2006-02-13 14:30 ET - News Release
LAS VEGAS -- (Business Wire) -- Feb. 13, 2006
LitFunding (OTCBB: LFDG) announced that it has signed a
Merger and Acquisition Agreement to acquire Easy Money Express Inc.
"The acquisition of Easy Money affords LitFunding with a highly
profitable opportunity to leverage our capital at high yields with
relative safety," commented Morton Reed, CEO of LitFunding.
Easy Money Express will operate as a wholly owned subsidiary of
LitFunding, and develop a deferred deposit, consumer loan business
that will specialize in providing short-term cash advances or "payday
loans," as they are commonly called. Easy Money has developed an
economical call center and Internet-based business model that permits
applications to be submitted via the Internet. Applications are
processed virtually instantly through highly automated Web-based
software. Approved loans are direct deposited into the consumer's
account and debited automatically the next payday. Easy Money Express
has the ability to reach potentially millions of customers, without
the high cost of traditional "brick-and-mortar" retail locations.
As a condition to finalizing the merger, Easy Money Express will
enter into a management agreement with LitFunding whereby LitFunding
will receive a fee of $200,000 in exchange for Easy Money Express
utilizing the company's resources. The terms of the merger agreement
will allow Easy Money Express to become a separate, publicly traded
entity, under certain terms. In such an event, LitFunding and its
shareholders will retain 15% of the newly issued shares of Easy Money
Express.
It is the intention of the management of LitFunding and Easy Money
Express to finalize the merger by March 31, 2005. Further details of
the proposed transaction are available in the company's Form 8-K that
was filed with the SEC today.
About LitFunding Corp.
LFC, through its wholly owned subsidiary LitFunding USA (the
company), remains one of the nation's largest public companies
specializing in the funding of litigation primarily through
plaintiffs' attorneys. The company is in the litigation funding
business making advances to plaintiffs' attorneys primarily in the
areas of personal injury. A fee is earned when the lawsuits so funded
are settled or otherwise concluded by a court ruling. At that time,
both the funds advanced and the fee contractually agreed to are repaid
to the company.
About Easy Money Express
Easy Money Express is an independent Internet and call center
payday advance company. The company is engaged in loaning payday
advances to individuals of legal age, with a checking account,
verifiable employment and residence, in amounts typically up to $500.
The funds advanced, and the fee contractually agreed to, are repaid to
the company generally in 15 days or less. The payday advance industry
is a multibillion-dollar industry, representing hundreds of millions
of transactions, with an estimated 12 million households being served
each year.
This press release does not constitute an offer of any securities
for sale.
Except for the historical information presented herein, the
matters set forth in this press release are forward-looking statements
within the meaning of the "safe harbor" provision of the Private
Securities Litigation Reform Act of 1995, or by the Securities and
Exchange Commission in its rules, regulations and releases. These
forward-looking statements are subject to risks and uncertainties that
may cause actual results to differ materially. These risks include the
ability of LFC to reach definitive agreements with respect to and
close the proposed financing discussed in this release as well as
activities, events or developments that the company expects, believes
or anticipates will or may occur in the future. Such statements are
subject to a number of assumptions, risks and uncertainties. Readers
are cautioned that such statements are not guarantees of future
performance and that actual results or developments may differ
materially from those set forth in the forward-looking statements. In
addition, other risks are detailed in the company's periodic reports.
These forward-looking statements speak only as of the date hereof. The
company disclaims any intent or obligation to update these
forward-looking statements.
Contacts:
LitFunding Corp., Las Vegas
Michelle DeMuth, 702-317-1610
My guess: February 25, 8:25PM
Only cause its my Birthday
Back in AOGS today at .025 gonna heat up IMO
It must be January on OTC land, I have one stock up
566.7% and another 29,900%
LMAO
Come in January go away in May once again applies
MWWD been buying it up at .015 to .02 had a real nice pop today. 5 million S8 pushed it down from about a buck.
One sweet chart!!
AOGS OIl & Gas .032 expecting some nice developments here
Very nice call EZ, you had this one pegged all the way!!
CTDH UT .08 x .085
No not really, it usually trades ZERO, so 100k in trading is about 100 times normal LOL
CTDH .065 x .08 getting about 100times normal volume last couple days. Small O/s and float