TEXC.. $0.12.. A responce to a e-mail from an I-hub poster...
Reply from Bob Mays via email: I think it defines TEVC and I will be a buyer at this level,, hank
Thanks for your post. Let me see if I can provide you with some limited information. As you know, public companies are not allowed to disclose information to individual shareholders that is not disclosed to all shareholders. As such, I would encourage you to review all of the prior public postings, including the 2011 financial statements and the first quarter 2012 financial statements. The second quarter financial statements will be posted soon, and they might provide some enlightenment for you.
First of all, I don’t care what you think of me personally. However, you should be aware that I am part of a group that owns over 30% of the outstanding common stock of TexCom, Inc. As such, I have a very real interest in the stock price. Further, you should also be aware that our group has been instrumental in electing most of the current members of the Board of Directors. All of the members of the Board are sophisticated, successful businessmen, with many years of experience in the oil and gas and related businesses, or many years of accounting and legal experience. And while I admittedly have only limited experience with public companies, I do have substantial experience with disposal operations, which is the core business of TexCom, Inc. The goal of the Board, and my goal, is to bring real value to the shares of TexCom, Inc., and not some false value based on limited information released to the public. As you probably know, the share price of TexCom, Inc. can fluctuate wildly, based on limited trading activity. For all practical purposes, there is not a market to sell any appreciable number of shares and conversely, the purchase of limited shares will send the stock price upwards. It is our goal to establish solid asset values based on reliable earnings, which will bring some stability to the shares.
As I’m sure you know from reading the company’s postings, the company has two primary operations – MB Environmental Services, LLC, in Chambers County, Texas, and the relatively new Eagle Ford Environmental Services, LLC, in Atascosa County, Texas. Both of these operations are performing as expected. However, both of these operations were acquired (or additional interests were acquired) under very difficult financing structures which limit the ability of the company to raise capital and grow. The Board and management of TexCom, Inc. are focused on maintaining and improving our successful operations and are pursuing a number of opportunities to strengthen the balance sheet and provide growth opportunities for the company. Obviously, nothing can be said about these efforts until they are complete, and are properly disclosed to all shareholders.
Sincerely,
Robert S. May
President and CEO
TexCom, Inc.
Robert S. May
RSM Investments, LLC
6501 North Broadway Extension
Suite 220
Oklahoma City, OK 73116
Tel: 405.286.3526
Fax: 405.607.8375