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Raptor Investments' Acquisition Lists Entire Private School on eBay
Jun 9, 2005 9:55:00 AM
Copyright Business Wire 2005
PLANTATION, Fla.--(BUSINESS WIRE)--June 9, 2005--
Raptor Investments, Inc. (OTC:RAPT) announced today that its acquisition, EZ Auctions & Shipping, Inc., has listed a 'bulk' asset disposition on eBay, consisting of the entire contents of a private elementary and middle school located in Clearwater, FL. The listing can be found on eBay under listing number 5588256429. Jamie DeSane, acting CEO of Raptor commented, "This type of bulk asset disposition is indicative of transactions that our new team has been handling professionally and effectively for considerable lengths of time, and is representative of a business that we will continue to embrace. The expertise and reputation of both EZ Auctions and Thrifty Brothers management in Individual, Estate and Corporate asset liquidations and dispositions will help ensure our competitive edge moving forward, representing a significant area of differentiation over our competitors."
Raptor's acquisition of EZ Auctions & Shipping, Inc. is scheduled to close on or before June 20th, 2005, while it anticipates that the Thrifty Brothers, Inc. acquisition will close, as DeSane puts it, "not long after that." Both EZ Auctions & Shipping and Thrifty Brothers management have been receiving a substantial number of inquiries from Probate, Bankruptcy and Divorce lawyers all over the United States regarding asset liquidation and disposition services. DeSane remarked, "That kind of attention is a testament to our teams' abilities and reputation in this area."
DeSane continued, "The opportunity and implications for the new company are substantial, as corporate liquidations represent an estimated $250 Billion per year in the United States alone. The 'icing on the cake' is that our competitors have actually created their own barrier-to-entry for this market by electing to grow through franchises. It is difficult enough for a company with years of disposition experience to effectively handle asset transactions of this nature, but it is virtually impossible for a franchise owner with little or no experience to have any reasonable chance of success in attempting this kind of transaction. This is just one of the ways we believe our business model will prove to be more successful over the long term vs. our competitors."
In late May 2005, Raptor Investments announced it was joining Las Vegas based Net2Auction Inc. (Pink Sheets:NAUC) and Dallas based Orbit Drop, Inc. (Pink Sheets:OBDP) in the eBay (NASDAQ: EBAY) drop store business. Instead of implementing a traditional franchising model, which sacrifices larger long-term cash flows in exchange for smaller more immediate cash flows, Raptor Investments has decided to manage growth through the acquisition of community-centered retail 'thrift stores' that will continue operating in that business while also acting as local eBay drop store 'consignment centers' and corporate and estate asset disposition offices.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Raptor Investments, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Source: Raptor Investments, Inc.
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