Evans Systems Inc. Signs Letter of Intent to Acquire TeleCents Communications, Inc.
By Market Wire
Last Update: 10/3/2006 8:31:50 AM Data provided by
JUPITER, FL, Oct 03, 2006 (MARKET WIRE via COMTEX) -- Evans Systems, Inc. (EVSY) announced today that the company has signed a Letter of Intent to acquire TeleCents Communications, Inc. of Michigan for $13 million in cash and stock considerations. TeleCents Communications, Inc. (TCI) is a privately held telecommunications company that provides Voice Over Internet Protocol (VoIP) services, internet based call-on demand, and pre-paid, PIN based calling card services.
TCI is registered by the Federal Communications Commission as a licensed 214 telecommunications carrier. As a carrier and service provider, TCI provides a VoIP gateway to access international routes for telecommunication carriers, resellers as well as end users. TCI was incorporated in 1996 and has been a leader in the pre-paid PIN based calling services. TCI's innovative approach to internet call-on-demand services, branded Send Global, has set it apart from competitors, especially in the international calling segment, (www.TeleCents.com). Send Global is a pre-paid dial around service for cellular, home and business phones. In recent years TCI has concentrated on expanding services in internet based calling and VoIP.
The parties have agreed that due diligence will be completed by October 31, 2006, with a closing of this transaction to occur on or before November 30, 2006. TeleCents sales in 2005 were $10,599,000. TCI is projecting 2006 sales to be approximately $11,300,000 with net income of $672,000.
"Telecents Communications, Inc. is looking forward to joining the Evans System, Inc.," stated Mr. Jeffrey Lauzon, CEO and Founder of TeleCents Communications, Inc. "By taking TeleCents public, we see tremendous opportunities to expand, particularly in the VoIP segment."
"TeleCents will be a valuable first addition to Evans and our share holders," stated Fred Wicks, CEO of Evans System, Inc. "Their management retooled the business to allow for immediate expansion in the fast growing VoIP market. I see their revenues and profits expanding significantly in the next two years."
About Evans Systems, Inc.:
Evans' business plan is to acquire finically sound private companies which have innovative technology and a strong potential for profitable growth. These companies will be integrated into Evans and managed as fully independent operating divisions.
Homeland Integrated Security Systems, Inc. (PINKSHEETS: HISC) recently acquired 50.1% of Evans stock and has announced that Homeland Integrated Security shareholders of record as of October 13, 2006 will receive 1 share of Evans Systems, Inc. for every 50 shares of HISC they own as of the record date. The payment date for the dividend will take place on October 25, 2006.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
SOURCE: Homeland Integrated Security Systems, Inc.
