Ampex Corporation (fka AEXCA)

[micasey123]

LGOV S-8..
http://www.sec.gov/Archives/edgar/data/915471/000126606805000062/largos842005.htm

LGOV - did a text search and didn't find anyone posting about the 8-K out on the 19th..


Apparently this billion dollar deal is giving LGOV about 400K profit per month, or 4.8MM per year..

On March 18, 2005, the Largo Vista signed an Agreement and Assignment of Certain Contractual Rights and Benefits (the “Agreement”), with Shanghai Offshore Oil Group (HK) Co., Ltd. (“Shanghai Oil”) pursuant to the Agreement in Principle. Under the Agreement, Shanghai Oil assigns to Largo Vista all of its rights under a prior contract with Asiacorp Investment Holding Ltd. to purchase fuel oil from Russia and deliver it to The People’s Republic of China (the “Asiacorp Contract”). The Agreement states that deliveries will begin no later than May 18, 2005 and continue for a period of thirty-six (36) months at a rate of up to two hundred thousand (200,000) metric tons per month. The assigned Asiacorp Contract provides that the estimated value of the maximum potential deliveries over the life of the Agreement, at the market prices in effect at the time of the signing of the Asiacorp Contract on July 22, 2004, to be approximately one billion, two hundred thirty million, nine hundred sixty thousand dollars ($1,230,960,000.00). The Agreement provides that Largo Vista will be guaranteed a minimum of two dollars ($2.00) profit per metric ton, and that Shanghai Oil will continue to be responsible for the logistics and financing of the delivery of the fuel oil. In exchange, Largo Vista will issue to Shanghai Oil one hundred million (100,000,000) shares of Largo Vista’s common stock, to be issued in three increments, one-third within ten days of the signing of the Agreement, the second one-third one year later, and the final one-third one year later.