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Saturday, May 31, 2008 9:42:52 AM
PINR CHART
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Pine Ridge Holdings, Inc to Acquire 100% Control of ServeNation
Thursday, May 29 2008 - 9:05
PINR $0.0009 $-0.002 (%-18.18)
http://www.microcapmarkets.com/newsbody.jsp?id=200805290904MRKTWIREUSPR____0401790&market=OTC&ticker=NA
FORT WAYNE, IN -- (MARKET WIRE) -- 05/29/08 -- Pine Ridge Holdings, Inc (PINKSHEETS: PINR) CEO Kevin May, announced today that additional negotiations with the majority owner of ServeNation culminated in the joint agreement for PINR to acquire 100% control of ServeNation.
"After further negotiations, ServeNation management decided that there would be strategic benefits for both parties to complete a transaction in which ServeNation will move completely under Pine Ridge Holdings," stated May.
May continued, "I am very pleased for PINR shareholders that our Company was able to negotiate mutually agreed upon terms under which ServeNation would move fully under PINR. I believe this will be a very strategic move for our Company and a value added asset for our shareholders. All technology rights, revenues and operations will be under the control of PINR. I am very optimistic that PINR has taken advantage of this unique opportunity at the right time and the future will be very bright."
"As stated in earlier releases, I believe our current goal of 500 orders per day is very attainable and probably on the conservative side. The current independent contractors look like they will easily surpass the 12/31/08 goal of 500 orders per day. Based on historical data, yearly revenues could well exceed $45 million. With PINR coming onboard to ServeNation from an operational standpoint, I believe we will be able to rearrange some of the effort and make things operate in an even more efficient and productive manner," May further stated.
"Our research has shown that other business models such as ServeNation are carrying valuations in excess of 3 times total gross revenues. The initial goal of 500 orders per day will give a potential market valuation in excess of $150 million. This is why we are so excited to have ServeNation be part of PINR and is a major event for the future growth potential of Pine Ridge," concluded May.
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
CONTACT:
Pine Ridge Holdings, Inc
Kevin May
260-637-1551
Brian Kistler
260-450-8823
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http://www.microcapmarkets.com/newsbody.jsp?id=200805290904MRKTWIREUSPR____0401790&market=OTC&ticker=NA
© 2007 MicrocapMarkets.com. All rights reserved
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To get Fibonacci Support and Resistance for a stock click here and enter symbol.
http://www.ddmachine.com/default.asp
This Is only my opinion posted here please due not buy or sale a stock base on my opinion. For pratice or educational purpose only,
http://www.ddmachine.com click here for support and resistance.
Pine Ridge Holdings, Inc to Acquire 100% Control of ServeNation
Thursday, May 29 2008 - 9:05
PINR $0.0009 $-0.002 (%-18.18)
http://www.microcapmarkets.com/newsbody.jsp?id=200805290904MRKTWIREUSPR____0401790&market=OTC&ticker=NA
FORT WAYNE, IN -- (MARKET WIRE) -- 05/29/08 -- Pine Ridge Holdings, Inc (PINKSHEETS: PINR) CEO Kevin May, announced today that additional negotiations with the majority owner of ServeNation culminated in the joint agreement for PINR to acquire 100% control of ServeNation.
"After further negotiations, ServeNation management decided that there would be strategic benefits for both parties to complete a transaction in which ServeNation will move completely under Pine Ridge Holdings," stated May.
May continued, "I am very pleased for PINR shareholders that our Company was able to negotiate mutually agreed upon terms under which ServeNation would move fully under PINR. I believe this will be a very strategic move for our Company and a value added asset for our shareholders. All technology rights, revenues and operations will be under the control of PINR. I am very optimistic that PINR has taken advantage of this unique opportunity at the right time and the future will be very bright."
"As stated in earlier releases, I believe our current goal of 500 orders per day is very attainable and probably on the conservative side. The current independent contractors look like they will easily surpass the 12/31/08 goal of 500 orders per day. Based on historical data, yearly revenues could well exceed $45 million. With PINR coming onboard to ServeNation from an operational standpoint, I believe we will be able to rearrange some of the effort and make things operate in an even more efficient and productive manner," May further stated.
"Our research has shown that other business models such as ServeNation are carrying valuations in excess of 3 times total gross revenues. The initial goal of 500 orders per day will give a potential market valuation in excess of $150 million. This is why we are so excited to have ServeNation be part of PINR and is a major event for the future growth potential of Pine Ridge," concluded May.
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
CONTACT:
Pine Ridge Holdings, Inc
Kevin May
260-637-1551
Brian Kistler
260-450-8823
Digg This Reddit ma.gnolia.com RSS feeds
del.icio.us Techorati News Vine
Home - About Us - CEO's Letter - Real-Time Market Data - Co-branding - Contact Us - Site map
Penny Stocks - OTCBB - Microcap -
Data and information is provided for informational purposes only, and is not intended for trading purposes. Neither MicrocapMarkets.com nor any of its data or content providers shall be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
http://www.microcapmarkets.com/newsbody.jsp?id=200805290904MRKTWIREUSPR____0401790&market=OTC&ticker=NA
© 2007 MicrocapMarkets.com. All rights reserved
StatCounter - Free Web Tracker and Counter
To get Fibonacci Support and Resistance for a stock click here and enter symbol.
http://www.ddmachine.com/default.asp
This Is only my opinion posted here please due not buy or sale a stock base on my opinion. For pratice or educational purpose only,
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