EVSV I alerted a few weeks ago and could run on to
Post# of 29735
Posted On: 06/04/2013 7:25:14 AM
EVSV I alerted a few weeks ago and could run on today's news
Enviro-Serv Inc. Announces Finalization Of Its First Two Acquisitions To Become Wholly Owned Subsidiaries
TAMPA, Fla., June 4, 2013 /PRNewswire/ -- Enviro-Serv Inc. (ESI) (OTC Pink: EVSV) today announces that one of the first two previous letter of intents and the re-launch of X-Terminate Pest Management are finalized as full acquisitions and are now legally wholly owned subsidiaries of Enviro-Serv Inc.
Chris Trina, Chairman and CEO of ESI stated this, "This is an extremely exciting time for all the companies involved in these transactions as well as our shareholders. After announcing a letter of intent with Air Systems Group over 6 weeks ago and the re-launch of X-Terminate Pest Management over a month ago these acquisitions are fully consummated and will reflect in our second quarter financials. We have valued these two companies at over 1.5 million dollars and are very excited in obtaining these assets as part of our growing portfolio of service related companies. Air Systems Group is a very exciting company that has already booked over $180,000 of A/C related revenues in the last few months even though the extremely warm weather has now just arrived in the Tampa Bay area. Their prospects in obtaining major contracting bids over the next 7 months remains very exciting as does the launch of their residential division making this acquisition very promising for our shareholders. The parent company is assisting in seeking financing either directly or indirectly for ASG to assist them in their 18 month growth strategy." Trina goes on to state this about X-Terminate, "I am also hugely excited about the current and future prospects of X-Terminate Pest Management Inc. With this subsidiary I will be directly involved on a day-to-day basis assisting them from all aspects of corporate oversight and management. Although X-Terminate is wholly owned 100% by ESI they have agreed to pay a monthly fee to the parent company of 10%. Summer time represents major termite and lawn care revenues for the pest control industry in Florida so the timing of this acquisition couldn't be better."
Regarding the structure of these acquisitions Mr. Trina ended by stating this, "We have utilized newly issued fully restricted convertible preferred "B" class shares that vest over a period of 3 years in total. The owners of these preferred shares must stay on as key management for a minimum two year period. The conversion pricing is set much higher than our current market price of our underlying stock and on a fully diluted basis should be accretive in nature to our shareholders with the expected future revenues and profits of both companies. Lastly Trina said, "I am working hard on the acquisition of Royalty Landscape and Design and it's still a very active negotiation but moving slower than expected. Other than the newly issued preferred shares the common stock equity structure of ESI remains exactly as stated in previous announcements and insiders haven't sold a share nor do I expect any for sale in the foreseeable future."
About ESI
Enviro-Serv Inc. (OTCPK: EVSV) is a Tampa based corporation specializing in providing property maintenance services in geographically concentrated warm climate states. Through an aggressive acquisition strategy, the Company is building a portfolio of highly profitable enterprises that offer year round services such as pest control management, lawn and landscaping care, pool maintenance, air conditioning/refrigeration installation and repairs and a host of additional onsite maintenance offerings. Please visit their website at www.enviro-serv.com
About ASG
Air Systems Group (ASG) specializes in commercial refrigeration and air conditioning, providing superior customer achievements for all project sizes and needs. The company's installations, along with the scores of services provided have positioned ASG as a leading and inclusive contractor for today's construction projects. A testimony to their quality services can be seen in their client list which includes Circle K and Sunoco establishments. In addition to commercial Stores, ASG services restaurants, car dealerships, schools, strip centers, assisted living facilities, hotels, along with an assortment of commercial and residential applications. In addition to their service department, ASG directs a full commercial division that is responsible for the installation of ductwork, refrigeration coolers, kitchen hoods, ventilation and other related aspects of commercial and residential construction. Please visit their website at www.airsystemsservices.com
About X-Terminate Pest Management Inc. (XPMI)
XPMI is a full service licensed Florida pest control company specializing in all Termite eradication and general house pest control. They are also licensed in Lawn and Ornamental and currently have both residential and commercial accounts in all aspects of pest control. They are based in St. Petersburg and do business in a 75 mile radius around the quad-county area of Tampa Bay. They are the branded name in the Tampa area specializing in eco-friendly dry-wood termite eradication using XT-2000 orange oil. Their website of www.xterminateinc.com is currently under construction but will be available to visit very soon.
Forward-Looking Statements - This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and Enviro-Serv Inc. undertakes no obligation to update such statements.
Enviro-Serv Inc. Announces Finalization Of Its First Two Acquisitions To Become Wholly Owned Subsidiaries
TAMPA, Fla., June 4, 2013 /PRNewswire/ -- Enviro-Serv Inc. (ESI) (OTC Pink: EVSV) today announces that one of the first two previous letter of intents and the re-launch of X-Terminate Pest Management are finalized as full acquisitions and are now legally wholly owned subsidiaries of Enviro-Serv Inc.
Chris Trina, Chairman and CEO of ESI stated this, "This is an extremely exciting time for all the companies involved in these transactions as well as our shareholders. After announcing a letter of intent with Air Systems Group over 6 weeks ago and the re-launch of X-Terminate Pest Management over a month ago these acquisitions are fully consummated and will reflect in our second quarter financials. We have valued these two companies at over 1.5 million dollars and are very excited in obtaining these assets as part of our growing portfolio of service related companies. Air Systems Group is a very exciting company that has already booked over $180,000 of A/C related revenues in the last few months even though the extremely warm weather has now just arrived in the Tampa Bay area. Their prospects in obtaining major contracting bids over the next 7 months remains very exciting as does the launch of their residential division making this acquisition very promising for our shareholders. The parent company is assisting in seeking financing either directly or indirectly for ASG to assist them in their 18 month growth strategy." Trina goes on to state this about X-Terminate, "I am also hugely excited about the current and future prospects of X-Terminate Pest Management Inc. With this subsidiary I will be directly involved on a day-to-day basis assisting them from all aspects of corporate oversight and management. Although X-Terminate is wholly owned 100% by ESI they have agreed to pay a monthly fee to the parent company of 10%. Summer time represents major termite and lawn care revenues for the pest control industry in Florida so the timing of this acquisition couldn't be better."
Regarding the structure of these acquisitions Mr. Trina ended by stating this, "We have utilized newly issued fully restricted convertible preferred "B" class shares that vest over a period of 3 years in total. The owners of these preferred shares must stay on as key management for a minimum two year period. The conversion pricing is set much higher than our current market price of our underlying stock and on a fully diluted basis should be accretive in nature to our shareholders with the expected future revenues and profits of both companies. Lastly Trina said, "I am working hard on the acquisition of Royalty Landscape and Design and it's still a very active negotiation but moving slower than expected. Other than the newly issued preferred shares the common stock equity structure of ESI remains exactly as stated in previous announcements and insiders haven't sold a share nor do I expect any for sale in the foreseeable future."
About ESI
Enviro-Serv Inc. (OTCPK: EVSV) is a Tampa based corporation specializing in providing property maintenance services in geographically concentrated warm climate states. Through an aggressive acquisition strategy, the Company is building a portfolio of highly profitable enterprises that offer year round services such as pest control management, lawn and landscaping care, pool maintenance, air conditioning/refrigeration installation and repairs and a host of additional onsite maintenance offerings. Please visit their website at www.enviro-serv.com
About ASG
Air Systems Group (ASG) specializes in commercial refrigeration and air conditioning, providing superior customer achievements for all project sizes and needs. The company's installations, along with the scores of services provided have positioned ASG as a leading and inclusive contractor for today's construction projects. A testimony to their quality services can be seen in their client list which includes Circle K and Sunoco establishments. In addition to commercial Stores, ASG services restaurants, car dealerships, schools, strip centers, assisted living facilities, hotels, along with an assortment of commercial and residential applications. In addition to their service department, ASG directs a full commercial division that is responsible for the installation of ductwork, refrigeration coolers, kitchen hoods, ventilation and other related aspects of commercial and residential construction. Please visit their website at www.airsystemsservices.com
About X-Terminate Pest Management Inc. (XPMI)
XPMI is a full service licensed Florida pest control company specializing in all Termite eradication and general house pest control. They are also licensed in Lawn and Ornamental and currently have both residential and commercial accounts in all aspects of pest control. They are based in St. Petersburg and do business in a 75 mile radius around the quad-county area of Tampa Bay. They are the branded name in the Tampa area specializing in eco-friendly dry-wood termite eradication using XT-2000 orange oil. Their website of www.xterminateinc.com is currently under construction but will be available to visit very soon.
Forward-Looking Statements - This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and Enviro-Serv Inc. undertakes no obligation to update such statements.
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