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How much does it cost Aeros Exhaust to be a Title Sponsor
"Aeros Exhaust 200" in the Yakima Speedway NASCAR race?
http://www.medialifemagazine.com/news2001/jan01/jan22/5_fri/news2friday.html
Start your engines,pull out your wallets
Rising snit over major NASCAR ad price jumps
By Gabriel Spitzer
When NBC and Fox wrapped up their $2.4 billion broadcast rights deal for NASCAR a year ago, hikes in ad rates and sponsorship fees were a foregone conclusion.
At a press conference, Fox president David Hill joked that ad rates would "double at least, maybe triple."
Advertisers chuckled uncomfortably.
"Hey, why are you putting a cap on these prices?" Dick Ebersol rejoined. More nervous laughter.
These days, with the 2001 season just weeks away, nobody’s laughing anymore.
The increased exposure NASCAR races will get on broadcast television over their former cable deal, and the networks’ need to recover some of the cash they dropped on rights fees, means that only sponsors with extremely deep pockets will be able to afford NASCAR this season.
Already three title sponsors have dropped out of the mix, and many more are still negotiating with the tracks and the networks.
Taking their cue from the most recent PGA golf contracts, NBC and Fox are asking title sponsors of races to pony up additional money, or buy an advertising package, in exchange for on-air mention.
That could effectively double or even triple the cost of sponsoring a NASCAR race.
"It’s certainly a huge issue. Traditionally, the race’s title sponsor has gotten excellent exposure on the broadcast side without having to pay extra. Now the networks are saying there’s a required ad buy for the sponsor to get mentioned on TV. That’s causing a lot of unhappy sponsors," says Shawn Bradley, vice president of client services at the Bonham Group, a Denver-based sports consulting firm.
Not only could the sponsors be forced to buy ad time on the network, but the sponsorship fees themselves, negotiated separately with the race tracks, could jump as well. That means that some of the smaller sponsoring companies could soon be shaken out.
That has already happened to CarsDirect.com, which, along with Sears and Winston, has dropped its title sponsorship deal. CarsDirect.com was reportedly paying nearly $2 million for title rights to the Las Vegas 400, plus a little under $1 million for a media package. Fox reportedly asked for about $2.5 million for advertising alone, and CarsDirect.com balked. Rumors have NBC demanding as much as $4 million from title sponsors for certain races.
"It will just have to be bigger companies that sponsor those races. The sponsorship playing field is really going to narrow," says Mike McCarthy, editor of MotorsportsTV.com, an independent site for fans.
With title sponsorships expiring this year for 11 races, more changes could be on the way. Some sponsors are just trying to get the best possible deal, while others are likely negotiating for their very lives.
"For someone like AutoZone, where this is their primary sponsorship effort, I can’t see them pulling out of this. There are other big players who are more diversely invested in sports, like Coke, where it wouldn’t completely shock me if they got out. They are so well-positioned in other places that they could survive without NASCAR," says Bradley.
Fees for other NASCAR sponsorships will rise as well, as a result of the increased exposure broadcast TV will offer. The cost has just about doubled to sponsor a team and driver.
"Those sponsorships used to average about $6 million, and suddenly they’re getting twice that. A lot of traditional NASCAR sponsors are being priced right out," says Hadrian Shaw, a sports analyst at Paul Kagan Associates.
Sponsorship hikes are one way the networks may be able to recoup their rights fees without passing the entire cost on to advertisers. But ad rates are expected to jump quite a bit as well.
"You're going to pay probably 25 to 50 percent more per viewer, and viewership is going to go up. So ad rates will go up significantly," says Bradley.
This could shape up to be an extremely important season for NASCAR.
On the one hand, the sport is truly going mainstream; whereas last year 10 out of 36 races were shown on broadcast television, with the remainder on cable, this year 28 of 38 will air on the broadcast networks.
On the other hand, the sport risks alienating some of its most loyal sponsors.
"This has always been the most sponsor-friendly sport in existence," says Bradley. "Now that they’re trying to bring the sport into the mainstream, they’re running into the same roadblocks as other sports, with broadcasters being less inclined to give sponsors free exposure."
Because sponsorships are negotiated on a race-by-race basis, don’t expect all the negotiations to be resolved by Feb. 18, when the Daytona 500 kicks off NASCAR’s 2001 season.
What happens in Daytona will have a lot to do with how subsequent races are handled.
"This is certainly a crossroads for the sport. You don’t want to say it’s a make-or-break season, but it almost has that feel to it," says Shaw.
Sorry about the large caps. I just copied and pasted the article. Did not mean to come out as yelling.
AERO EXHAUST TO SPONSOR SPECIAL AWARD IN NASCAR GRAND NATIONAL DIVISION
http://www.racingwest.com/news/story.php3/14683/index.htm
DAYTONA BEACH, Fla. Aero Exhaust, a leading manufacturer of performance exhaust technology, is stepping up its commitment to NASCAR racing in 2007.
As part of a multi-year commitment, Aero, based in South Jordan, Utah, will sponsor a special award in the NASCAR Grand National Division which includes the Busch East Series and the West Series. The Aero Exhaust “Most Laps Led” Award will be presented to the eligible driver who leads the most laps in each race. It includes a $500 award per race. In addition, the driver from each series who collects the most number of Aero Exhaust “Most Laps Led” awards during the season will receive a year-end bonus.
In addition to the $500 Aero Exhaust “Most Laps Led” Award, NASCAR Grand National Division drivers will continue to compete for the Bud Pole Award, Featherlite Most Improved Driver Award, POWERade Power Move of the Race Award and the Sunoco Rookie of the Year Award. Sunoco, the official fuel of NASCAR, has also added a Rookie of the Race Award, to be presented after each event, to its offerings.
Aero Exhaust is the world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. Its stainless steel products are also used exclusively by many of the Rolex Series Grand Am Daytona Prototype teams. These team relationships have yielded several victories to include the SunTrust / Riley 2005 Rolex Series Team and Driver Championship and more recently, the CompUSA Chip Ganassi with Felix Sabates / Lexus Riley 2006 Rolex 24 Champions at Daytona.
The NASCAR Grand National Division, which uses cars similar to those used on the NASCAR Busch Series, is a feeder division for NASCAR’s three national series. Two-time NASCAR Busch Series champions Martin Truex Jr. and Kevin Harvick, along other notable drivers such as Brendan Gaughan and David Gilliland, began their careers in the Grand National Division. Two-time NASCAR NEXTEL Cup Series champion crew chief Greg Zipadelli also began his career in the Grand National Division
Yes Jonny.
Good to hear that. I am hours away from Yakima.
Don't know why someone would doubt the PR of AERO sponsoring a race in Yakima Washington for 2007. Here is a link from NASCAR website as proof they sponsored a race in 2006.
Aero Exhaust 200 9/3/2006 Yakima Speedway Yakima, WA
http://www.nascarregionalracing.com/event-results.asp?Event_ID=945&Series_ID=10
Best part of that PR is this:
"The definitive agreement is still on track, and we expect to have an announcement regarding its status very shortly," stated Steven R. Peacock, chief executive officer of Franchise Capital Corporation. "We are extremely pleased to be advancing our relationship with Aero Exhaust and look forward to further updates both on the operations of this company and details of the acquisition."
Thanks JJ, FCCN will fly today!
Here are the AERO dealers within 100 miles.
Midas Auto Service Experts
755 W. Main St.
Branford, CT 06405
203-483-3813
Midas Auto Service Experts
33 Farmington Ave.
Bristol, CT 06010
860-582-7983
Midas Auto Service Experts
90 Queen St.
Southington, CT 06489
860-621-9333
Midas Auto Service Experts
910 Barnum Ave.
Stratford, CT 06614
203-375-5611
Midas Auto Service Experts
91 S. Main St.
Torrington, CT 06790
860-482-7647
Midas Auto Systems Experts
331 S. Broadway and Route 28
Salem, NH 03079
603-893-8693
Midas Muffler
Cape Road Route 44
Raynham, MA 02767
508-823-6166
Steve & Dave's Tire & Auto Svs
223 Rear So. Main St.
Concord, NH 03301
603-226-8675
DieselManor, Inc
61 Peppermint Street
Goffstown, NH 03045
603-497-2281
Long Island Drive Shaft Corp
1566 Montauk Hwy
Bellport, NY 11713
631-286-2299
T&E Engineering Co.
714 School St.
Webster, MA 01570
508-943-5844
United Exhaust Shop II, Inc.
1575 Route 112
Port Jefferson Station, NY 11776
631-474-0010
Someone sold 1500 shares for .10? What was that about?
.05 x . 051(2)
I am a little bit confused too. Who said this? You or the editor?
"100-million or better was my understanding."
Did you talk to someone from AQUA? I tried calling twice in the last few days. I was told someone would return my call but never got a call back.
I saw lots of buys and fewer sells there.
I've set my expectation at a later date so I don't set myself up for disappointment. PR today, the 12th, the 15th, or a little later does not matter to me. I just want the merger to happen. And I believe it will very soon.
"GENTLEMEN, START YOUR ENGINES!"
Thank you very much for sharing to the board that incredible find.
If FCCN releases a Definitive agreement PR before the bell, We gap up and the chase is on.
IMO,that video confirms how obsessed car enthusiasts are about Aero exhaust. For someone to go through all that trouble, he obviously want's to brag that his car's got Aero exhaust, the coolest thing in aftermarket right now. Cool sound, cool design, improves mileage. IMO, AERO is getting bigger and bigger.
There you go. An official explanation by FCCN via 8-k. Thanks for posting that.
Here's the Edgar link to NIVM and YHGG merger in 2004 where Steven Peacock was responsible.
http://sec.edgar-online.com/2004/06/18/0001262463-04-000022/Section5.asp
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NICHOLAS INVESTMENT COMPANY, INC.
DATE SIGNATURE
June 18, 2004 /s/ Steven R. Peacock
Steven R. Peacock, Chief Executive Officer
3
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EXHIBIT 10.1
AGREEMENT AND PLAN OF ACQUISITION
BY AND BETWEEN
NICHOLAS INVESTMENT COMPANY, INC.
AND
YASHENG GROUP
THIS AGREEMENT AND PLAN OF ACQUISITION is made and entered into as of the
13th day of June, 2004 by and between Nicholas Investment Company, Inc. (NIVM),
a corporation organized and existing under the laws of the State of Nevada,
having an office at 43180 Business Park Dr., Temecula, California, and YaSheng
Group (YHGG), a corporation organized and existing under the laws of the State
of California, having an office at 1472 Oddstad Dr., Redwood City, California .
RECITALS
A. The authorized capital stock of NIVM consists of five hundred million
(500,000,000) shares of common stock, $0.001 par value, of which approximately
15 million (15,000,000) shares were issued and outstanding as of the date
hereof, and fifty million (50,000,000) shares of preferred stock, $0.001 par
value, of which twelve million (12,000,000) shares of Series C preferred stock
were issued and outstanding as of the date hereof;
B. The authorized capital stock of YHGG consists of 800,000,000 shares
of common stock, no par value, of which 154,651,008 shares were issued and
outstanding as of the date hereof;
C. The respective Boards of Directors of NIVM and YHGG have deemed it
advisable and to the advantage of the two corporations that YHGG acquire NIVM
upon the terms and conditions herein provided;
D. YHGG and NIVM intend that the acquisition contemplated hereby qualify
as a tax free reorganization within the meaning of Sections 354 (a)(1) and
368(a)(1)(A) of the Internal Revenue Code of 1986, as amended; and
E. Pursuant to RCW 23B.11 the respective Boards of Directors of NIVM and
YHGG have approved this Agreement and Plan of Acquisition and have directed that
this Agreement and Plan of Acquisition be submitted to a vote of the
shareholders, as may be required by the laws of the States of Nevada and
California, of said corporations, respectively.
NOW, THEREFORE, in consideration of the mutual agreements and covenants
set forth herein, NIVM and YHGG hereby agree to the Acquisition in accordance
with the following plan:
1
--------------------------------------------------------------------------------
AGREEMENT
1. Acquisition. YHGG shall acquire one hundred percent 100% NIVM, and
YHGG shall assume the reporting responsibilities of NIVM as allowed under Rule
12g-3 of the Securities Act of 1934. This Agreement and Plan of Acquisition
shall become effective for purposes of all applicable law at the close of
business on July 14, 2004 (the Effective Time). Immediately following the
Effective Time, as soon as practical, NIVM shall cause to be filed a Form 8-K
and a Form 12g-3.
2. Directors and Governing Documents. The directors of YHGG shall remain
the directors of YHGG upon the Effective Time. The Certificate of Incorporation
of YHGG shall continue to be the Certificate of Incorporation of YHGG without
change or amendment until further amended in accordance with the provisions
thereof and applicable laws. The Bylaws of YHGG, as in effect at the Effective
Time, shall continue to be the Bylaws of YHGG without change or amendment until
further amended in accordance with the provisions thereof and applicable laws.
3. Rights and Liabilities of NIVM. At and after the Effective Time, NIVM
shall be a wholly-owned subsidiary of YHGG. None of the liabilities of NIVM or
its subsidiaries shall be transferable to YHGG, nor shall YHGG be obligated for
any NIVM contracts or obligations.
4. Further Assurances. From time to time, as and when required by YHGG,
there shall be executed and delivered on behalf of YHGG such deeds and other
instruments, and there shall be taken or caused to be taken by it all such
further and other action, as shall be appropriate or necessary in order to vest,
perfect or confirm, of record or otherwise, in YHGG the title to and possession
of powers, franchises and authority of NIVM and otherwise to carry out the
purposes of this Agreement and Plan of Acquisition, and the officers and
directors of YHGG are fully authorized in the name and on behalf of NIVM or
otherwise to take any and all such action and to execute and deliver any and all
such deeds and other instruments.
5. Stock of NIVM. Upon the Effective Time, by virtue of this Agreement
and Plan of Acquisition, and without any action on the part of the holder
thereof, (i) each share of the issued and outstanding Common Stock of NIVM held
as of record by NIVM immediately prior thereto shall be changed and converted
into shares of Common Stock of YHGG. The ratio for this exchange shall be based
on the Net Asset Value Per Share of YHGG prior to the Effective Time, compared
to the Net Asset Value Per Share of NIVM. For example, if the Net Asset Value
Per Share of YHGG stock were $6.40, and the Net Asset Value Per Share of NIVM
were $0.075, then the exchange rate would be 85:1 (one share of YHGG stock
issued for every 83 shares of NIVM stock outstanding).
6. Preferred Stock of NIVM. Prior to the Effective Time, NIVM shall
cause that fifty-percent (50%) or six million (6,000,000) shares of the
outstanding preferred Series C stock shall be converted into NIVM common stock
on a one for one basis (1:1). The remaining issued and unconverted preferred
Series C stock, totaling six million (6,000,000) shares, shall be converted into
stock purchase rights in YHGG. Such stock purchase rights shall enable the
holder to exchange the Series C into common stock of YHGG at a cost to the
holder based on the following formula:
Market Bid Price less One Dollar ($1) Times Twenty Five Percent (25%)
Plus One Dollar ($1). (An example would be: $15 stock price minus $1 =
$14 times $25% = $3.50 plus $1 = $4.50 cost of option)
2
--------------------------------------------------------------------------------
Such stock purchase rights shall be exercisable at the option of the Holder, but
only on the following conditions:
A. Three million options (3,000,000) are exercisable at the time that YHGG
receives the
first One Hundred Million Dollars ($100,000,000) in equity financing.
B. Three million options (3,000,000) are exercisable at the time that YHGG
receives the second One Hundred Million Dollars ($100,000,000) in equity
financing.
C. All options are exercisable 12 months from the closing date of the
acquisition of NIVM by YHGG.
It is understood and agreed that a Stock Purchase Rights Agreement containing
specific details of said rights and conditions must be prepared and approved by
both parties prior to closing. For tax purposes, these stock purchase rights
shall be treated as a continuation of the conversion rights of the Series C. As
of the Effective Time, there will be no shares of Preferred Series C stock
outstanding.
7. Stock Certificates. At and after the Effective Time, each certificate
representing shares of Common Stock of NIVM shall be exchanged for certificates
representing a number of shares of Common Stock of YHGG according to the
exchange rate in Item 5, above. Promptly upon such exchange, YHGG shall cause to
be reissued each such certificate representing shares of Common Stock of NIVM to
the benefit of YHGG. Until so reissued, each such certificate, upon and after
the Effective Time, shall be deemed for all purposes, other than the payment of
dividends or other distributions, if any, to shareholders, to represent the
number of shares of Common Stock of NIVM represented thereby.
8. Book Entries. As of the Effective Time, entries shall be made upon
the books of YHGG in respect of this Agreement and Plan of Acquisition in
accordance with the following:
NIVM shall be treated as a wholly-owned subsidiary of YHGG. None of the
liabilities of NIVM or its subsidiaries shall be transferable to YHGG, nor shall
YHGG be obligated for any NIVM contracts or obligations.
9. Appointment of Agent. NIVM hereby consents to service of process in
the State of California in any action or special proceeding for the enforcement
of any liability or obligation of NIVM, and hereby irrevocably appoints Steven
Peacock as NIVM's agent to accept service of process in any action or special
proceeding for the enforcement of any such liability or obligation. The address
to which a copy of such process shall be mailed by the Secretary of State of
California is 43180 Business Park Dr., Temecula CA 92590.
10. Amendment. At any time before or after approval and adoption by the
shareholders of NIVM, as may be required by the laws of the State of Nevada, and
prior to the Effective Time, this Agreement and Plan of Acquisition may be
amended in any manner as may be determined in the judgment of the respective
Boards of Directors of NIVM and YHGG to be necessary, desirable or expedient;
provided, however, that, after any required approval of the shareholders of
NIVM, such amendment may not materially and adversely affect the rights and
interests of the shareholders of NIVM.
11. Counterparts. In order to facilitate the filing and recording of
this Agreement and Plan of Acquisition, the same may be executed in two or more
counterparts, each of which shall be deemed to be an original and the same
agreement.
12. Hold-harmless. The Parties to this Agreement agree to hold each
other harmless against any damages that either Party may incur as a result of
this Agreement or in the event that the Acquisition does not close on the
Effective Time in accordance with Section 1. In the event of a disagreement
between the Parties surrounding this Agreement, or in the event this Agreement
does not close on the Effective Date, both Parties hereby waive their rights to
sue the other Party or to seek any compensatory or punitive damages.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
3
--------------------------------------------------------------------------------
IN WITNESS WHEREOF, each of the corporate parties hereto, pursuant to
authority granted by the Board of Directors of NIVM and YHGG has caused this
Agreement and Plan of Acquisition to be executed by its President as of the date
first above written.
NICHOLAS INVESTMENT COMPANY, INC., a Nevada corporation
BY: /s/ STEVEN R. PEACOCK
STEVEN PEACOCK, PRESIDENT
YASHENG GROUP, a California Company
BY: /s/ MAY PING WU
MAY PING WU, PRESIDENT
For those who are still wondering if this merger is going to happen. Steven Peacock, current CEO of FCCN was responsible for the merger of Nicholas Investment Company, Inc. (NIVM) and YaSheng Group (YHGG) back in 2004. IMO, this merger is as good as done.
Steven Peacock won't screw this up. He was responsible for the merger of NIVM and YHGG. There is no reason why this merger is not happening. I am still holding here.
I anticipate us going back up after 10 AM.
Someone needs to put das boot in VFIN's arse!
No, you keep all your shares.
Not so fast. We may get a PR on the acquisition of Citation soon.
"Starting today, this is a new AquaCell Technologies," said Kevin Spence, President and Chief Financial Officer of AquaCell. "I am looking forward to spearheading the aggressive acquisition strategy we are developing to provide AquaCell with rapid growth."
Gapping up a little this morning.
AQUA NEWS!
Kevin Spence Hired as President and Chief Financial Officer of AquaCell Technologies
AquaCell Technologies to Take a New Direction
AquaCell Technologies, Inc. (PINKSHEETS: AQUA) announced today that Kevin Spence has joined the Company as its new President and Chief Financial Officer, under a five-year employment agreement.
"Starting today, this is a new AquaCell Technologies," said Kevin Spence, President and Chief Financial Officer of AquaCell. "I am looking forward to spearheading the aggressive acquisition strategy we are developing to provide AquaCell with rapid growth."
Mr. Spence's background makes him perfectly suited to preside over this strategy. Having served as Executive Vice President and Chief Financial Officer of US Filter, an NYSE listed entity, Mr. Spence was involved with approximately 300 acquisitions over a seven-year period, increasing US Filter's revenues from $25 million to nearly $4.5 billion. Mr. Spence participated in financing the plan, utilizing both equity and debt vehicles. US Filter was sold to French conglomerate Vivendi for $6.2 billion.
Prior to joining US Filter, Mr. Spence was an audit partner at KPMG Peat Marwick. He graduated with a Bachelor of Science degree in accounting from USC and is a member of the American Institute of Certified Public Accountants.
Mr. Spence replaces Karen Laustsen as President of AquaCell Technologies, who resigned the position December 31, 2006. Ms. Laustsen will remain with the company in another capacity.
About AquaCell Technologies, Inc.
AquaCell Technologies, Inc. is based in Rancho Cucamonga, CA. Its AquaCell Media, Inc. subsidiary installs its patented self-filling Aquacell 1000 Bottled Water Cooler Systems free of charge into various locations, including retail establishments. AquaCell Media retains ownership of the coolers, and revenue is generated through "Coolertising" -- the sale of targeted advertising on the band of the cooler's permanently attached five-gallon bottle, for the promotion of products and/or services pertinent to the demographics and location, similar to the concept of billboard advertising.
Safe Harbor. Statement Under the Private Securities Litigation Reform Act of 1995.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our ability to continue relationships with customers; our ability to offer our products at competitive prices; and our ability to use the most current technology for our products.
Source: Market Wire (January 5, 2007 - 7:00 AM EST)
As per AQUA NEWS just this morning, Kevin Spence is now also the President and CFO of AQUA. Check it out.
AQUA NEWS!
Kevin Spence Hired as President and Chief Financial Officer of AquaCell Technologies
AquaCell Technologies to Take a New Direction
AquaCell Technologies, Inc. (PINKSHEETS: AQUA) announced today that Kevin Spence has joined the Company as its new President and Chief Financial Officer, under a five-year employment agreement.
"Starting today, this is a new AquaCell Technologies," said Kevin Spence, President and Chief Financial Officer of AquaCell. "I am looking forward to spearheading the aggressive acquisition strategy we are developing to provide AquaCell with rapid growth."
Mr. Spence's background makes him perfectly suited to preside over this strategy. Having served as Executive Vice President and Chief Financial Officer of US Filter, an NYSE listed entity, Mr. Spence was involved with approximately 300 acquisitions over a seven-year period, increasing US Filter's revenues from $25 million to nearly $4.5 billion. Mr. Spence participated in financing the plan, utilizing both equity and debt vehicles. US Filter was sold to French conglomerate Vivendi for $6.2 billion.
Prior to joining US Filter, Mr. Spence was an audit partner at KPMG Peat Marwick. He graduated with a Bachelor of Science degree in accounting from USC and is a member of the American Institute of Certified Public Accountants.
Mr. Spence replaces Karen Laustsen as President of AquaCell Technologies, who resigned the position December 31, 2006. Ms. Laustsen will remain with the company in another capacity.
About AquaCell Technologies, Inc.
AquaCell Technologies, Inc. is based in Rancho Cucamonga, CA. Its AquaCell Media, Inc. subsidiary installs its patented self-filling Aquacell 1000 Bottled Water Cooler Systems free of charge into various locations, including retail establishments. AquaCell Media retains ownership of the coolers, and revenue is generated through "Coolertising" -- the sale of targeted advertising on the band of the cooler's permanently attached five-gallon bottle, for the promotion of products and/or services pertinent to the demographics and location, similar to the concept of billboard advertising.
Safe Harbor. Statement Under the Private Securities Litigation Reform Act of 1995.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our ability to continue relationships with customers; our ability to offer our products at competitive prices; and our ability to use the most current technology for our products.
Source: Market Wire (January 5, 2007 - 7:00 AM EST)
AQUA NEWS! She's gonna run again.
Kevin Spence Hired as President and Chief Financial Officer of AquaCell Technologies
AquaCell Technologies to Take a New Direction
AquaCell Technologies, Inc. (PINKSHEETS: AQUA) announced today that Kevin Spence has joined the Company as its new President and Chief Financial Officer, under a five-year employment agreement.
"Starting today, this is a new AquaCell Technologies," said Kevin Spence, President and Chief Financial Officer of AquaCell. "I am looking forward to spearheading the aggressive acquisition strategy we are developing to provide AquaCell with rapid growth."
Mr. Spence's background makes him perfectly suited to preside over this strategy. Having served as Executive Vice President and Chief Financial Officer of US Filter, an NYSE listed entity, Mr. Spence was involved with approximately 300 acquisitions over a seven-year period, increasing US Filter's revenues from $25 million to nearly $4.5 billion. Mr. Spence participated in financing the plan, utilizing both equity and debt vehicles. US Filter was sold to French conglomerate Vivendi for $6.2 billion.
Prior to joining US Filter, Mr. Spence was an audit partner at KPMG Peat Marwick. He graduated with a Bachelor of Science degree in accounting from USC and is a member of the American Institute of Certified Public Accountants.
Mr. Spence replaces Karen Laustsen as President of AquaCell Technologies, who resigned the position December 31, 2006. Ms. Laustsen will remain with the company in another capacity.
About AquaCell Technologies, Inc.
AquaCell Technologies, Inc. is based in Rancho Cucamonga, CA. Its AquaCell Media, Inc. subsidiary installs its patented self-filling Aquacell 1000 Bottled Water Cooler Systems free of charge into various locations, including retail establishments. AquaCell Media retains ownership of the coolers, and revenue is generated through "Coolertising" -- the sale of targeted advertising on the band of the cooler's permanently attached five-gallon bottle, for the promotion of products and/or services pertinent to the demographics and location, similar to the concept of billboard advertising.
Safe Harbor. Statement Under the Private Securities Litigation Reform Act of 1995.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our ability to continue relationships with customers; our ability to offer our products at competitive prices; and our ability to use the most current technology for our products.
Source: Market Wire (January 5, 2007 - 7:00 AM EST)
Just saw it too. I am expecting a PR tomorrow. GLTU!
No EOD run. But I am ready for the fireworks tomorrow.
Funny, I was just reading the same Dec. 04 PR from AQUA. I can't help to notice that part " Citation's President Kevin Spence will become AquaCell's President and Chief Financial Officer".
IMO, this is a done deal.
Here is the Dec 4 PR again.
AquaCell Technologies Signs Letter of Intent to Acquire Citation Publishing
AquaCell to Hire New President and Chief Financial Officer; Acquisition Valued at $21 Million
AquaCell Technologies, Inc. (PINKSHEETS: AQUA) has signed a letter of intent to acquire Citation Publishing, Inc. (www.citation.com) an industry leader in web hosted information technology. Under the terms of the agreement, AquaCell will acquire Citation for 21 million shares of AquaCell Technologies stock, which the parties have agreed to value at $1.00 per share. Citation's President Kevin Spence will become AquaCell's President and Chief Financial Officer.
"Citation has developed a revolutionary platform that can be greatly expanded to serve a far-reaching diverse client base," said Kevin Spence, former Executive Vice President and Chief Financial Officer of US Filter, a Fortune 500 company. "Being acquired by AquaCell gives us the ability to access the public markets to facilitate more rapid growth and gain exposure in the marketplace."
Citation's proprietary information technology platform allows the company to create and maintain state-of-the-art content specific web portal products. Its flagship portal product is CyberRegs(TM), which provides subscribers with the single-most preeminent online compliance library of environmental, health, safety and transportation regulations in a user-friendly format.
Thousands of professionals have made CyberRegs(TM) their number one choice for regulatory compliance documentation. Subscribers to CyberRegs include business professionals from Fortune 500 companies, consulting firms and other organizations.
Citation is currently developing proprietary portals for various Standard Development Organizations and has teamed with such powerful brand names as Aspen Publishing and Essential Information Systems (ESS). In 2005, Citation entered into an agreement with Information Handling Services (I.H.S.), a NYSE traded company, to market its CyberRegs product.
During Mr. Spence's tenure with US Filter, annual revenues increased from approximately $25 million to nearly $4.5 billion before being acquired in 1999 by Vivendi S.A. Mr. Spence oversaw a series of public offerings in the equity markets, raising more than $500 million in equity and $1.5 billion in debt financing.
The acquisition is expected to be finalized by the end of the year subject to a waiver of a third-party's right of first refusal, which if invoked would provide AquaCell with a breakup fee.
About Citation
Citation (www.citation.com) is an Internet publisher of government information of interest primarily to Environment, Health and Safety (EH&S) compliance professionals. It is the creator of the CyberRegs(TM) website, a highly capable but user-friendly interface to a large library of government documents. These include United States national documents, of all 50 states, and documents from 20 other countries.
The Citation document library primarily contains EH&S documents, and in some areas (especially United States national documents), coverage is more comprehensive. The CyberRegs product adds value to the documents in the document library by highly advanced search capabilities, including searching for state documents that are similar to portions of U.S. federal (CFR) documents, precise change identification, and customer driven document management features.
Citation combines cost savings and a superior product into a compelling value proposition for EH&S professionals.
About AquaCell Technologies, Inc.
AquaCell Technologies, Inc. is based in Rancho Cucamonga, CA. Its AquaCell Media, Inc. subsidiary installs its patented self-filling Aquacell 1000 Bottled Water Cooler Systems free of charge into various locations, including retail establishments. AquaCell Media retains ownership of the coolers, and revenue is generated through "Coolertising" -- the sale of targeted advertising on the band of the cooler's permanently attached five-gallon bottle, for the promotion of products and/or services pertinent to the demographics and location, similar to the concept of billboard advertising.
Safe Harbor. Statement Under the Private Securities Litigation Reform Act of 1995.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our ability to continue relationships with customers; our ability to offer our products at competitive prices; and our ability to use the most current technology for our products.
I disagree. IMO, investors are willing to forget what happened to AQUA's very recent past if Citation is aquired. If Citation is as valuable as it sounds, at least a $1.00 per share, then all hell is going to break lose after the PR.
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Aquacell Water Inc. PR (AQWT) from yesterday, 03Jan2007.
Kevin Spence, Former US Filter Executive, Joins Aquacell Water as President and Chief Financial Officer
Former US Filter CFO Hired by Aquacell Water Under Five-Year Employment Contract
Aquacell Water, Inc. (PINKSHEETS: AQWT) announced today that it has hired Mr. Kevin Spence as its President and Chief Financial Officer under a five-year employment agreement.
Mr. Spence previously served as Executive Vice President and Chief Financial Officer of United States Filter Corporation (US Filter), a Fortune 500 and NYSE listed company (former trading symbol USF), the leading global provider of industrial and commercial water and wastewater treatment systems and services. Under Mr. Spence's tenure, from 1992 to 1999 US Filter's annual revenues increased from approximately $25 million to nearly $4.5 billion through both internal growth and approximately 300 acquisitions, while its employee base worldwide grew from 200 to nearly 30,000. Mr. Spence directed public offerings in the equity markets, raising more than $500 million and raising public debt totaling $1.5 billion, prior to selling the company to Vivendi for $6.2 billion.
"I'm thrilled to once again have the opportunity to be involved in the water industry," said Mr. Spence. "The water industry continues to have the potential for significant growth and we are currently in the process of finalizing our formal acquisition strategy." Mr. Spence continued, "US Filter was a great success story, and with the added benefit of experience, I believe our strategy for growth and profitability for Aquacell Water will be very rewarding."
Mr. Spence graduated with a Bachelor of Science degree in accounting from the University of Southern California, and is a member of the American Institute of Certified Public Accountants. Prior to joining US Filter, Mr. Spence was an audit partner at KPMG Peat Marwick.
Mr. Spence replaces Karen Laustsen as President of Aquacell Water, who resigned the position December 31, 2006. Ms. Laustsen will remain with the company in another capacity.
About Aquacell Water, Inc.
Aquacell Water, Inc., headquartered in Rancho Cucamonga, CA, designs turnkey water filtration and purification systems for municipal, industrial, commercial, and institutional applications around the world. The Company specializes in arsenic removal systems in association with media manufactured by The Dow Chemical Company. Aquacell's services include evaluation, design, engineering, manufacturing, installation, training and service.
For more information about Aquacell, visit www.aquacellwater.com.
Keep AQUA on radar! Expecting PR either after the bell or first thing tomorrow morning. Today is the last day for a 3rd party to match AquaCell Technologies Inc.(AQUA) offer to acquire Citation.
What's interesting though is that Kevin Spence of Citation is now the President and CFO of Aquacell Water Inc. (AQWT).
AQWT I believe is a spin-off company of AQUA.
Very interesting!
I was listening to www.MN1.com and they were talking about AQUA. They think that since Kevin Spence is now the President and CFO of AQWT, then it must mean that the aquisition by AQUA of Citation is consumated.
We are all waiting for the PR. Hopefully it says that AQUA acquires Citation.
Better if he bothers VFIN on the phone.