Northeast Automotive Holdings, Inc. is engaged in the wholesale purchase and sale of vehicles acting as a middleman between various dealer and institutional sellers and dealer purchasers. The Company sells the vehicles only through the established third-party auctions, which act as a marketplace for used vehicles. The Company purchases the vehicles from two types of sellers: institutional sellers and dealers. Institutional sellers include vehicle manufacturers and their captive finance arms, banks, vehicle finance companies, credit unions, other financial institutions, vehicle rental companies, commercial fleets and fleet management/licensing companies. Selling dealers include licensed franchised, independent and wholesale vehicle dealers. The Company deal only with the wholesale sellers and buyers and do not buy from or sell to individuals. In addition, the Company is not engaged in purchasing or selling scrap vehicles.
I'm curious what an extremely micro cap company like this (market cap =$116,000) would possibly be able to invest in UTOG to further development of New Miami.
Also curious who the "veteran oil industry executive" is that NEAU is courting.
What it means for UTOG? New Miami needs a lot more money than UTOG has to spend. Everything else is just speculation.
