TYRIA Watch it!! .0001 Pending deal to send this REPORTING COMPANY to debt free and cash in the bank. ETRD jumped on the bid today, look at L2 lining up for the run. Very soon IMO. No pumping, just giving ya'll some info. Deal should be done very soon!!
Trey Resources to Sell SWK Technologies
Company Will Be Debt Free After Transaction
LIVINGSTON, N.J., Nov. 27 /PRNewswire-FirstCall/ -- Trey Resources, Inc. (OTC Bulletin Board: TYRIA), the premier total solutions provider specializing in business software for the small- and medium-sized business market, yesterday reported that its wholly-owned subsidiary, SWK Technologies, Inc. has entered into a letter of intent to sell the majority of its assets and liabilities to SWK Solutions, LLC, a newly-created limited liability company formed by Jeffrey D. Roth, CEO of SWK Technologies, Inc. and its management team.
The transaction is expected to close during the first quarter of 2008.
Mark Meller, CEO of Trey Resources, said, 'Trey has grown in a short period of time from a company with no revenue, (back in May 2004), to a Company which today is reporting sales results at a run rate of $7.4 million per year. We have been presented with an opportunity to sell SWK at a significant profit over our investment, and believe it is in the best interest of both the company and SWK's management to sell the company at this time. While terms of the transaction have not as yet been made public, I can state that Trey will be debt free following the transaction, and will also have significant cash available to it. Our plan will be to acquire a more substantial company in another high growth industry in the near future. We will immediately begin interviewing investment banks to assist us in this process.'
Jeffrey D. Roth, CEO of SWK Technologies, stated, 'We have a strong team that is committed to growing the company. We are well positioned in our core geographic markets and see tremendous growth opportunities from new products and services. We look forward to operating as an independent company.'
About Trey Resources
Trey Resources is involved in the acquisition and build-out of technology and software companies. The Company's growth strategy is to acquire firms in this extensive and expanding, but highly fragmented segment, as it seeks to create substantial value for shareholders. Since June 2004, Trey has acquired SWK Technologies, Inc., Business Tech Solutions Group, Inc., Wolen Katz Associates, and AMP-BEST Consulting, Inc. For more information, visit www.treyresources.com, www.swktech.com, www.mapadoc.com, www.amp-best.com, or contact Trey Resources CEO Mark Meller at (973) 758-9555 or by e-mail at mark.meller@swktech.com. Trey Resources was a recent spin-off of iVoice, Inc. (OTC Bulletin Board: IVOI).
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as 'believe,' 'expect,' 'anticipate,' 'should,' 'planned,' 'will,' 'may,' 'intend,' 'estimated,' and 'potential,' among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to Trey Resources, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
SOURCE Trey Resources, Inc.
Source: PR Newswire (November 27, 2007 - 9:15 AM EST)
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