No news is bad news. IMO, The Jazco system is probably way over rated and B-Right is way over staffed. They need to start controlling (and reducing) costs if they want to stay in business.
So, what is left...? Not much.
I wonder if Stony's/B-Right EVER made any money under Gibson's leadership. Maybe Momma Potts should step back in and take over again. Its interesting how Gibson bought Stony's from his mom for $882,500 in the form of a note payable by Stony's.
Guess who is paying for it now...?
It's interesting how Stony's/CVIA forgot to dislcose this little detail for a full year after the merger agreement.
Patricia Potts
In addition, the Company assumed a note payable in conjunction with the acquisition of Stony's Trucking Company where the Company's Chief Executive Officer, Mr. Gibson, purchased the shares of stock of the Stony's Trucking Company from his mother in exchange for a $882,500. The Chief Executive Officer's mother, Patricia Potts, was the former sole stockholder of Stony's Trucking Company prior to Stony's Trucking Company being acquired by Mr. Gibson. This note payable to Patricia Potts is unsecured, bearing interest at 8.00% per annum, payable in 140 monthly installments of $9,716 through September 2008. As of December 31, 2002, the unpaid balance was $617,802.
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