Capital Oil & Gas, Inc. Has Agreed to Acquire Three Additional Locations Thursday July 24, 12:58 am ET
HIALEAH, Fla., July 24 /PRNewswire-FirstCall/ -- Capital Oil & Gas, Inc. (OTC: PODM - News), announced today that it has agreed to acquire/lease three additional full service gas/convenience stations in Florida to add to its growing portfolio.
The company believes that these additional three stations will add an additional $18,000,000 to $20,000,000 million per year in revenues to its ongoing operations/revenue stream.
The company will pay for these acquisitions/leases from existing cash flow and will not impede on the capital structure of the company as management views any change in capital structure as counter productive.
"It is the intent of executive management to acquire/lease enough stations to generate a minimum of $100,000,000 million per year in revenue, with a potential profit margin of 8% to 10% per year overall, the company believes that it would then be in a position to become a fully reporting company and move to a more respectable venue," said Mr. Ariel Rodriguez, President & COO.
About Capital Oil & Gas, Inc.:
Capital Oil & Gas operates retail filling stations/convenience stores throughout the State of Florida; the company is aggressively seeking additional acquisitions that can meet its financial criteria.
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