Replies to post #23956 on USA Recycling Industries, Inc. (USRI)

[ORCA]

MAN THIS IS SOME HUGE NEWS.10$ MILLION VALUED??In addition, today's acquisition agreement further provides USRI is to receive "51% of all its right, title, interest in and to the business & assets of the EMSU operating division valued at $10,000,000 pursuant to the Agreement." USA Recycling Industries CEO Vincent J. Smith stated, "the acquisition of Earth Metal Scrap USA's auto parts export division adds significant value from a strategic standpoint by providing direct access to end-users, pricing advantages when negotiating within the international scrap metal trading markets and ultimately adding a substantial contribution to the Company's overall revenue results." Earth Metal Scrap USA CEO Kamal H. Patel added, "The finalized agreement ensures our international consumers will have direct access to an on-going stream of foundry-grade materials with one of North America's largest high-quality scrap metal auto parts suppliers."

[littlejohn]

USRI former Vygo...link to posted financials from the company...LJ

http://www.otcmarkets.com/stock/USRI/financials

[lawjak]

What I don't understand is the bid is only .17. Does this mean that if anyone wanted to sell they could only get .17. Which at this point and time it means nothing to me but what gives?