Wow! This is huge! Look what I just found in the amended report:
We continue to evaluate other companies for acquisition and recently entered into a letter of intent with a Texas based oil field maintenance company and its affiliates. The evaluation process is conducted by our acquisition board and the companies are evaluated on the following attributes:
• Geographic area
• Synergies with our current core businesses
• Niche marketing
• Areas of expertise
• Price/earnings ratio
• Benefit: Customer base, proprietary products, technology, and talent base.
We use the following criteria to evaluate acquisition opportunities:
• Established businesses with a proven track record: We seek established businesses with a proven operating track record strong financial performance, positive operating results, established or growing contract backlogs, and/or the potential for positive operating cash flow. We consider the experience and skill of management and whether other talented personnel exist within the company or the local market.
• Opportunity for growth of our industrial business: We look for businesses with an established base of industrial end users, to provide us an opportunity to increase synergism of our portfolio as well as market diversification.
• Opportunity to purchase and assimilate technologies and infrastructures to further aid our operational, technological, and overhead objectives.
The criteria identified above are not intended to be exhaustive. Any evaluation relating to the merits of a particular business combination will be based, on the above factors as well as other considerations deemed relevant by our management. Accordingly, we may enter into a business combination that does not meet any or all of these criteria if we believe that it has the potential to create significant stockholder value.
AI
