LVCP - BIG REVERSE MERGER (read)
- less then 5 million outstanding
- new company doing $12 million in revenue
- projecting $30 million for 2007
- Dutch solar company
- share price = .70
DO THE MATH
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Legend Investment to Acquire Majority Owned Control of GiraSolar B.V.
DETROIT, MI AND DEVENTER, THE NETHERLANDS, Feb 08, 2006 (MARKET WIRE via COMTEX) -- Legend Investment Corp. (OTC: LVCP) today announced that it has entered into a binding letter of intent to acquire fifty-one (51%) percent of Netherlands-based GiraSolar B.V. www.girasolar.nl
In fiscal 2004/2005, GiraSolar generated $12,000,000 in sales revenue. In fiscal 2005/2006, GiraSolar is projecting revenues of approximately $16,000,000, with a further revenue projection of $30,000,000 for fiscal 2007. GiraSolar expects to achieve profitable results in fiscal 2006.
GiraSolar three main divisions consist of 100% owned DutchSolar B.V., 51% owned GiraSolar Turkey Ltd. Ste. (GST), and 100% owned GiraMundo B.V. DutchSolar BV is based in the GiraSolar headquarters in Deventer, The Netherlands, and has production locations in the Netherlands and abroad. DutchSolar carries the GiraSolar brand of photovoltaic solar modules (GS125, GS135, GS145, GS155) and the GiraSolar DPE range of electronic devices, ranging from regulators for PV systems to heavy duty automatic voltage stabilizers, batteries and battery chargers for application in developing countries and disaster or crisis areas (emergency relief applications) as well as 3rd party products. Further, DutchSolar is involved in solar cell supply to manufacturers of solar modules and R&D projects, i.e. fundamental solar cell research and application development and research to improve silicon manufacturing processes. DutchSolar BV exclusively supplies its products to entities associated with the GiraSolar Group. www.dutchsolar.nl
GiraSolar Turkey (GST) supports clients in its geographical area of operation, stretching from Turkey and nearby Mediterranean countries into the Middle East. GST provides a full-service package and currently supplies solar energy components and systems to various governmental solar energy projects, as well as B2B and private clients. Further, it supplies various electronic devices and other components to the group's entities. www.girasolar.com.tr
GiraMundo is primarily a project development company, aiming at identifying possibilities for solar energy applications in rural areas of developing countries. To this end, GiraMundo works closely with partners in Asia, Africa, and Latin America. The project team of GiraMundo has extensive experience and was part of the team realizing the electrifying and award-winning "Yeelen Kura" project in Mali, West Africa, bringing light to approximately 20.000 rural dwellers in Southern Sahel.
