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Marketing |
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Sat, 30 Jun 2007 10:49:04 -0200 |
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Thunderbird 1.5.0.12 (Windows/20070509) |
Breaking News Alerts! We ask you to watch and enjoy the ride.
Stocks like this Do Not happen often....
EXTREME MOTORSPORTS
Sym: ETMO.PK
Current $0.0006
5 Day $0.03
Extreme Motorsports of California, Inc. Completes Acquisition of Southern
Offroad Vehicle Services
Wednesday June 27, 2:00 pm ET
BAKERSFIELD, CA--(MARKET WIRE)--Jun 27, 2007 -- Extreme Motorsports of California, Inc. (Other OTC:ETMO.PK -
News) ("Extreme" or the "Company"), has completed the acquisition of Southern Offroad
Vehicle Services, LLC ("SOVS"), a company dedicated to providing financing for customers purchasing
off-road vehicles. Through this acquisition, Extreme will not only be able to offer its customers direct
financing of sandcar purchases, but will also be the first sandcar manufacturer to offer leasing options,
much like any traditional car dealer.
ADVERTISEMENT
As previously announced, in exchange for all of the capital stock of SOVS,
Extreme has paid $10,000 in cash and 15 million shares of Extreme common stock.
Of the 15 million share of common stock, 10 million will be restricted shares
of common stock and 5 million will be free-trading shares.
In the past, Extreme required customer down-payments at contract signing and final
payment upon acceptance of the final vehicle, which required Extreme to finance the
12-month or more build-out process through the operating cash flow of the company. Now,
Extreme will be able to achieve both greater throughput and profit margins by shifting
its financing costs to the customer. SOVS has currently secured $14 million in financing
for future customers of Extreme, both for direct purchases and for leased vehicles. This
will provide Extreme with immediate funding for the build-out of custom sandcars for
private customers and "spec" vehicles for its dealers.
"The acquisition of SOVS provides Extreme with the capability to deliver direct financing to
our customers at rates comparable to dealers of standard over-the-road vehicles," commented
Alan McCaa, President and CEO of Extreme Motorsports. "Through this acquisition, we provide
what no other sandcar manufacturer in the world is able to claim: in-house financing to all
customers. This not only ensures consistent operating cash flows to Extreme, but incentivizes
buyers who might otherwise defer a purchase to a later date to complete a purchase immediately
through consumer financing."
About Extreme Motorsports of California, Inc.
Extreme Motorsports of California, Inc., operating under the trade name "Xtreme
Motorsports," is a manufacturer of custom and production-line sandrails, desert and
dual sport racecars. Founded in 1983, Extreme's sandcars have been sold to customers in
England, the United Arab Emirates, Australia, South America and the US. For more
information, visit the corporate web site
Extreme Motorsports of California, Inc. Completes Acquisition of Southern Offroad Vehicle Services
Marketwire (Wed, Jun 27)
Extreme Motorsports Closes 504 Offering, Prepares to Complete Audit of Financial Statements and Move to Over-the-Counter Bulletin Board
Marketwire (Wed, Jun 27)
Alan McCaa, CEO and President of Extreme Motorsports of California, Inc., is the Featured Guest in an Audio Interview at SmallCapVoice.com
Business Wire (Thu, Jun 14)
Extreme Motorsports of California, Inc. (ETMO) SqueezeTrigger Price is $0.0037. Approximately 279.9 Million Shares Shorted Since September 2006 According to BUYINS.NET Research Report
Marketwire (Mon, Jun 11)
Extreme Motorsports of California, Inc. Initiates Stock Repurchase Program, Prepares to Close Out 504 Offering
Marketwire (Thu, Jun 7)
Extreme Motorsports of California Receives Master Distributor Agreement for Extreme Security Vehicles, Provides Share Structure Update
Marketwire (Thu, May 31)
Extreme Motorsports of California, Inc. Completes Letter of Intent to Acquire Southern Offroad Vehicle Services
Marketwire (Tue, May 29)
Extreme Motorsports of California, Inc. Confirms Symbol, CUSIP Change and Trademark Protection Strategy
Marketwire (Mon, May 21)
In the car industry, the chassis is "wedded" to the engine. In IT terms, we cannot figure a better term for joining two slivers of silicon together in holy matrimony, till death or electro-migration tear them apart. Romantic, isn't it?
Subject: Why?
While we are not big fans of censorship, it is not as if we are talking about
bunch of retired army majors and nuns inflicting their will. This is the first
time in 10 years that a computer game has managed to get itself banned in the
UK and the first time in Ireland.
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