JMCP news to remember
Frank Love Announces His Intentions for James Monroe Capital
Apr 13, 2007 2:39:00 PM
Copyright Business Wire 2007
KILLEEN, Texas--(BUSINESS WIRE)--
Frank Love, the president of James Monroe Capital (PINK SHEETS:JMCP), issued the following statement on his intentions for the direction of the company.
Love stated, "When I took over this company, it had restricted shares in Originally New York and some marginal equity properties. The share price had a bid of "unpriced" and an ask of $0.0001. This meant that an investor could buy the stock but it would prove to be difficult to sell it.
I have come up with the following strategy that I will follow.1) No reverse-splits. In my experience, when reverse-splits occur, the share price usually falls to the level that the original reverse-split started from. Shareholders usually never benefit from this. I will not reverse-split this company since I do not believe it will benefit the shareholders whose interests I hold paramount.
2) Buy-back. We have billions and billions of shares outstanding. We will remain on the Pink sheets and will never get institutional interest if this continues. I intend to buy-back as many shares as I can at $0.0001 with the revenues generated from our oil deals. In addition, I will only enter into deals where there is cash flow that will allow me to do this. This will allow our share price to increase so that we won't be a sub-penny as well as to provide a bid price with which investors will have an exit strategy. Our share price should eventually reflect the assets that we have placed inside of it.
3) Exchanges. Once the buy-back has been completed and our outstanding share-structure has been drastically reduced, I intend for us to move to either the AMEX or Nasdaq. In addition, I would like a dual listing on the AIM or Frankfurt.
Please be patient with both our new management team and myself as we execute this strategy."
Source: James Monroe Capital
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James Monroe Capital
Frank Love
254-458-0473
