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Ever Have a Small Stock Take Off? |
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Sat, 30 Jun 2007 20:14:29 -0100 |
Breaking News Alerts! We ask you to watch and enjoy the ride.
Stocks like this Do Not happen often....
We expect big things Monday!
EXTREM E MOTORSPORTS
Sym: ETMO.PK
Current $0.0006
5 Day $0.03
Extreme Motorsports of California, Inc. Completes Acquisition of Southern
Offroad Vehicle Services
June 27, 2:00 pm ET
BAKERSFIELD, CA--(MARKET WIRE)--Jun 27, 2007 -- E xtreme 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, Extr eme will not only be able to offer its
customers direct financing of sandcar purchases, but will also be the first
sandcar manufacturer
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 Extrem e 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, E xtreme required customer down-payments at contract signing and
final payment upon acceptance of the final vehicle, which required Extr eme to
finance the 12-month or more build-out process through the operating cash flow
of the company. Now, Ext reme 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 Extre me,
both for direct purchases and for leased vehicles. This will provide Ext reme
with immediate funding for the build-out of custom sandcars for private
customers and "spec" vehicles for its dealers.
"The acquisition of SOVS provides Extrem e 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 Extre me
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 Extrem e,
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.
Ex treme 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, Extrem e'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
Extrem e Motorsports of California, Inc. Completes Acquisition of Southern
Offroad Vehicle Services
Marketwire (Wed, Jun 27)
Ex treme 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 Ext reme Motorsports of California, Inc., is
the Featured Guest in an Audio Interview at SmallCapVoice.com
Business Wire (Thu, Jun 14)
Extr eme 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)
Extre me Motorsports of California, Inc. Initiates Stock Repurchase Program,
Prepares to Close Out 504 Offering
Marketwire (Thu, Jun 7)
Ex treme Motorsports of California Receives Master Distributor Agreement for
Extr eme Security Vehicles, Provides Share Structure Update
Marketwire (Thu, May 31)
Extr eme Motorsports of California, Inc. Completes Letter of Intent to
Acquire Southern Offroad Vehicle Services
Marketwire (Tue, May 29)
E xtreme Motorsports of California, Inc. Confirms Symbol, CUSIP Change and
Trademark Protection Strategy
Marketwire (Mon, May 21)
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