TEXC.. $0.16.. I have added from time to time but when I read the responce to an e-mail from management to another I-Hubber I bought at the $0.12 level several times.. I have a substantial postion that I have seen trade into the $0.30 level and never thought once of trading out of it..
They had Financing problems several qtrs ago but that seems to have been taken care of by earnings.. Management seems to have been shaken up with some new added.. The last qtr's earnings loss which seemed to spook all were dirivitive in nature and on an operational basis they made money..
If there is a long term passion for Eagle there will be growth for TEXC.. If Eagle doesn't work out TEXC may all ways move on as most of thier equipment is on rubber..hank
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CHANGES TO EXECUTIVE MANAGEMENT
19-Apr-2012
HOUSTON, TX - (Marketwire) – April 11, 2012 - TEXCOM ANNOUNCES CHANGES TO EXECUTIVE MANAGEMENT AND BOARD OF DIRECTORS - TexCom, Inc. (OTC Pink: TEXC), an environmental services company for the oil and gas industry, today announced the retirement of Louis Ross, who has elected to resign as Chairman, President and Chief Executive Officer of the Company. The Board of Directors has appointed Stephen Barth, who has been an independent member of TexCom’s Board since March 2011, to serve as Chairman; and has named Robert S. May as the Company’s Interim CEO, who will oversee TexCom’s daily business operations and lead the search for Ross’ successor as CEO. Ross has agreed to remain as an independent consultant to the Company to assist in the recruitment of and transition to a new executive leadership team.
Commenting on his departure, Ross stated, “I feel fortunate to have had the opportunity to play an important role in guiding TexCom’s growth and progression over the past nine years.”
The Company’s newly appointed Chairman, Stephen Barth, added, “The Board is appreciative of the dedicated service and hands- on leadership that Lou has provided TexCom during his long tenure with the Company. We are very fortunate and pleased to have Bob May – a major shareholder and long-time supporter of TexCom – stepping in as Interim CEO while we endeavor to develop and implement a sound management succession and expansion plan in the months ahead.”
About Robert May
Robert May is an independent investor with active direct investments in oil and gas exploration and production, oil and gas waste disposal, commercial facilities services bandwidth management and real estate. He also serves as the manager of Foxborough Management Company, LLC, which has managed over $216 million of tax credit investment funds since 2007. In late 2006, May left the GHK Companies where he had served as the General Manager for 15 years and as the Chief Financial Officer for the four previous years. The GHK Companies are a group of Oklahoma-based companies that are engaged primarily in the exploration and production of oil and gas and private equity investments. Prior the GHK Companies, May served as President of Search Drilling Co., a Wichita, Kansas-based oil and gas producer, contract driller and sponsor of publically registered oil and gas partnerships. He began his professional career in 1975 as a Certified Public Accountant with Ernst & Ernst (now Ernst & Young).
May currently serves as the Chairman of the Board and President of Facilities Performance Group, LLC, an Atlanta, Georgia-based commercial facilities services company that counts Fedex, Tenaris Steel, Eastern Kentucky Power Cooperative, Nucor Steel, Southwest Tennessee Community College, and Kentucky Utilities among its clients. He also serves on the Board of Directors of Mesh Networks, LLC, a Houston, Texas-based provider of bandwidth management software for Internet Service Providers, as well as commercial and residential users. May also owns RSM Investments, LLC, which manages approximately 20 companies in which he owns an interest. These companies are primarily involved in oil and gas exploration and production and oil and gas waste disposal businesses. May is a graduate of Oklahoma Christian College, where he earned a Bachelor of Science degree in Accounting.
About TexCom, Inc.
TexCom, headquartered in Houston, Texas, is a growth-oriented environmental services company with a primary focus on the disposal of nonhazardous wastes generated by the oil & gas industry.
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