From last Quarterly available in December of 07.
We remain optimistic about our long term business prospects. However, we still face obstacles in achieving profitability. We anticipate that because of our team focus on our current operations and through our planned expansion efforts, we will experience substantial increases in revenue that will help the Company reach profitability during 2008 or 2009. We have invested a significant amount of our working capital, technical infrastructure and personnel time in preparing the Company for the anticipated revenue increases.
This is interesting, because there has not been an Authorized Share increase in over 3 years. They must be self sufficient it would appear?
We believe that cash generated from operations and additional financing, either in the form of additional borrowings or the equity market will be sufficient to meet our working capital requirements for the next 12 months. Our current business plan anticipates that new service center growth will be funded through “Launch Investors”. It is anticipated that such Launch Investors will fund the start up of new (A) service center operations each in the approximate amount of $200,000; (B) service center operations with the infrastructure to sell retail products in each in the approximate amount of $550,000; and/or (C) the start up of a new hub and spoke retail mall/remote service center operations each in the approximate amount of $775,000. They will earn an estimated annual return between 15% and 18% on their investment plus principal repayment over the term of the investment – a minimum of one year and a maximum of three years. Additionally, in 2007, the Company began working on the expansion Midnight Auto Franchise Corp division and expects to begin warehouse distribution of its products and services to non-All Night Auto entities by the end of 2008. This estimate is a forward-looking statement that involves risks and uncertainties.
