Business
Enviro-Serv, Inc. Announces Letter of Intent to Purchase a Florida Based $1.4 Million A/C Company
Enviro-Serv, Inc. Announces Letter of Intent to Purchase a Florida Based $1.4 Million A/C Company.
About this update from Enviro-serv, Inc.
[{"type":"text","content":"\n \n \n Enviro-Serv, Inc. Announces Letter of Intent to Purchase a Florida Based $1.4 Million A/C Company\n \n \nEnviro-Serv, Inc. Announces Letter of Intent to Purchase a Florida Based $1.4 Million A/C Company\n \n TAMPA, FL--(Marketwired - Aug 25, 2014) - Enviro-Serv, Inc. (OTC: EVSV), which targets highly profitable small service companies in the commercial and residential property maintenance industry, is pleased to announce a signed letter of intent of the previously announced confidentiality agreement between EVSV and an undisclosed 21 year old profitable Florida East coast based residential A/C company.\n Chris Trina, Chairman and CEO, stated this about this news, \"This LOI is a major step for EVSV and never thought financially possible before we filed our REG-A offering with the SEC. It is totally realistic that with an expected qualified REG-A offering within 60-180 days from now we have secured and closed on both our current target pest control company and this A/C Company as wholly owned subsidiaries of Enviro-Serv, Inc.\" Trina had this to state about this acquisition to his shareholders: \"As previous the name and exact location of this target company will remain undisclosed until closing. We are under a tight confidentiality agreement to protect the seller from account piracy and employee targeting from its competition. I can assure the public that the SEC is aware of our pest control target name and has all due diligence in their hands regarding that acquisition and soon will have the same information on this newly proposed acquisition announced today.\"\n Regarding details of the Letter of Intent Trina stated this, \"This A/C Company is primarily a residential service company, 21 years in business and will produce over 1.4 million in revenue in 2014 with solid and growing profits. The due diligence will commence no earlier than the 4th Quarter of this year. Depending on findings of due diligence the expected purchase price could range from 1.7-2.5 x sales to include hard assets of approximately $75,000 in equipment. The seller is demanding no less than $500,000 in cash to consummate this deal and is flexible and open minded regarding the use of our stock for the balance of this transaction. I vow to work diligently to obtain a definitive asset purchase agreement by the end of this year as I suspect the due...