CMMIE new high today on this news fwiw
April 10, 2007 - 8:28 AM EDT
close Email this News Article
Your Name
Your Email
Friend's Name
Friend's Email
Receive Copy: yes
CMMIE 0.055 0.005
Today 5d 1m 3m 1y 5y 10y
CMMI 0.045 0.00
Today 5d 1m 3m 1y 5y 10y
CMMI Settles Lawsuit, Secures Houston Area Fuel Terminal, and Plans Corporate Growth Initiatives
HOUSTON, April 10 /PRNewswire-FirstCall/ -- Consolidated Medical Management, Inc. (OTC Bulletin Board: CMMI) today announced it has filed form 8-K with the U.S. Securities and Exchange Commission announcing settlement of all claims made against it in Cause No. 2005-25849, in the 113th District Court, Harris County, Texas, Patrick Palmer v. North American Reserve Corp., et al., and, as part of the settlement, has leased back the fuel terminal adjacent to Houston's George Bush Intercontinental Airport.
'We are very pleased to have settled this lawsuit as it clears the way for execution of currently planned corporate growth initiatives,' commented Timothy G. Byrd, Sr., Consolidated Medical Management's chief executive officer.
'We have also leased the fuel terminal, with an option to buy, adjacent to Houston's George Bush Intercontinental Airport providing 160,000 barrels of fuel storage capacity, direct access to fuel transmission pipelines, and easy interstate access, all in close proximity to Houston's large oil and gas refineries. We look forward to now moving the company ahead, accelerating operations, securing new customers, and generating shareholder value.
'In addition, to assist the Company with its planned growth initiatives, CapNet Securities, a Houston-based investment banking firm, was also engaged to provide referrals for valuation services, assistance in capital structure and financial planning development, organization of fund-raising for both working capital and capital expenditures, placement agent services for fund- raising activities, and facilitation of mergers and acquisitions,' Byrd concluded.
About Consolidated Medical Management, Inc.
The Company primarily focuses on fuel distribution and fuel terminal operations in the retail and wholesale oil and gas industry sectors. CMMI not only offers storage, delivery, and mixing of petroleum products such as gasoline and diesel fuel, but also offers biodiesel to the growing 'green' fuels market. Biodiesel is a clean burning, nontoxic, sulphur-free, and biodegradable alternative fuel for compression-ignition (diesel) engines made from animal fat or vegetable oil.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered 'forward-looking statements,' generally preceded by words such as 'plans,' 'expects,' 'believes,' 'anticipates,' or 'intends.' We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. Consolidated Medical Management, Inc., urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
SOURCE Consolidated Medical Management, Inc.
Source: PR Newswire (April 10, 2007 - 8:28 AM EDT)
News by QuoteMedia
www.quotemedia.com
