|By Marketwired .||
|April 21, 2014 07:15 AM EDT||
TAMPA, FL -- (Marketwired) -- 04/21/14 -- Enviro-Serv Inc. (OTC Pink: EVSV) (PINKSHEETS: EVSV) Enviro-Serv Inc. (ESI) is pleased to announce its second shareholder update letter from Chairman and CEO Chris Trina.
Dear Enviro-Serv Shareholders,
I'd like to begin by offering a personal sincere thank you to each and every shareholder of EVSV and also on behalf of our entire management team say how greatly appreciative we are in your unwavering support during the last year. We have indeed had a couple of setbacks since inception one year ago and as your CEO sincerely apologize, however, as I write this letter I have never been so excited about the execution of our business plan moving forward. The format in which I will convey these corporate updates is as follows; corporate makeover and structure, current potential subsidiaries, financial Statements, management structure and corporate goals to include funding.
Corporate Makeover and Structure:
Last April 23rd we announced the new beginning of Enviro-Serv Inc. Not only did our corporate name change formally that day but our stock began trading under our new symbol EVSV as well. As of today we have nearly one thousand stock holders with their stock held at approximately forty different broker dealers and banks. We currently have 1,209,718,800 issued and outstanding shares against a 2,950,000,000 authorized. EVSV current float equals 627,192,291 shares. The increase in float is 100% directly attributable to past funding under rule 504. EVSV currently has 7 active markets that trade our stock daily. Since the beginning of 2014 EVSV stock has traded total volume in excess of 1.7 billion shares with 1 billion of those shares traded this April alone. EVSV stock also traded in excess of one million dollars in trading volume in the past few weeks. Our stock is clearly on the "radar" of many investors, traders and brokerages with recent volume exceeding one and half times our current float in just the past 20 days. 451 million shares of our current outstanding total shares is personal stock of mine which came from converting non-collateralized preferred class A shares three weeks ago. The remaining preferred and common stock owned by me personally is presently being held in escrow as collateral to a lender. The Board of Directors and I represent the largest stake in EVSV totaling 26% of authorized shares. This stock is restricted rule 144 stock that is not registered for sale. Management is not considering a reverse stock split or capital restructuring at this time. Management is considering increasing the authorized share amount to make room for the necessary capital funding needs of the company over the next 18 months. As of today's date I am unaware of any shareholders or insiders registering EVSV for sale.
Current Subsidiary progress:
Since inception EVSV successfully acquired X-Terminate Pest Management which continues to be a huge bright spot. X-Terminate, Inc. has hit the termite season running coming off the best April start in the company's 5 year history. We are still active in discussions with Inland Pest Control and believe this acquisition will happen by the end of this summer. Our biggest and greatest achievement to date however is the most recently announced binding letter of intent to acquire an established one million dollar revenue pest control company. As previously announced, due diligence has commenced and things are looking very bright thus far. We have secured the necessary first tranche funding of $42,500 needed by May 7th, 2014 to secure this deal. Formal definitive purchase agreements are currently being worked on so to be timely by the above May 7th deadline date. Interestingly the recent heavy volume in our stock and our ability to raise capital successfully over the last 8 months has piqued the interest of a few potential new and at least one former candidate for acquisition.
We are current and up to date and fully reporting in our pink sheet filings. We recently posted 2013 financials and our disclosure statement. We will be posting our Q1 2014 financials by May 19th. Management will continue to work diligently at reduction of debt and balance sheet clean up which will help with potential future funding and bringing in new investors. It is our goal to show the financials of our recently announced potential acquisition by Q4 of this year. It is management's belief that should the current acquisition target close in a timely manner it would be in the shareholder's best interest in taking the necessary steps to uplift EVSV stock to the OTC Bulletin Board in 2015.
We recently announced the hiring of Mr. Gary Cole as our new V.P. of Business Development-Pest Control. He is extremely qualified for this position and has hit the ground running over the past couple months. Mr. Cole is the first of a couple upcoming hiring's to bolster our executive team and to build a world class management team. Mr. Cole has been instrumental in the due diligence process underway currently in our most recently announced target and in keeping the Inland acquisition alive as well. Mr. Cole will act as our Certified Pest Operator in charge on a full-time basis in the event we close this current acquisition. In addition to the executive team we remain in the process of interviewing key Strategic Advisors to assist in finding future target acquisitions. Lastly, I am interviewing additional financial board members to bolster our executive Board of Directors as well.
Corporate Goals and Funding:
We strive to remain very active in our hunt for qualified potential subsidiary acquisitions. Management's number one goal and priority today however is to fund and finalize our most recently announced acquisition. Under rule 504 we have raised capital in excess of $220,000 thus far which includes the necessary $42,500 escrowed for our first deposit due May 7th. In the amount stated above EVSV has utilized a bridge loan and convertible promissory note totaling $40,000 which was collateralized by personal stock. EVSV will raise capital through a variety of methods such as convertible notes, debt, straight equity or hybrid type investments. It is always management's goal to protect our shareholders in our financings and keep dilution down to absolute minimums where possible. I can't stress this point enough however that without necessary funding companies this size simply cannot exist or grow! Shareholders should embrace as I do the phenomenal value of our current acquisition and truly grasp how strong and profitable EVSV will become post acquisition. This single transaction will surely increase overall shareholder valuation and price per share even with potential future dilution. Our mission last year was to raise a million dollars under rule 504 which has yet to be achieved however with recent positive news and high volume there has been vast interest from the investment community to fund our needs going forward. We have secured but not yet accepted an investment agreement from a NY based accredited investment group to fund our company under Regulation-A up to $1.5 million dollars over the next 18 months which is being seriously considered at this time. This same group has promised to continue investing into EVSV under rule 504 should we stay the course with this structure. This investment group has successfully invested into our company the above stated amount of $220,000 and because of our past relationship and their belief in our acquisition strategies puts EVSV in a position to seriously consider and complete a cash acquisition of this size. This "best efforts" agreement if accepted represents more than enough cash to finalize our current target and one other yet to be announced target and beyond. We have great interest from numerous Tampa Bay companies that fit our business model who are anxious to sit down and discuss the benefits of partnering with ESI. We are extremely excited to move forward on our business plan and add shareholder value in 2014. We ask for trust and patience from our shareholder's as we work diligently in attaining our short term goals.
Again, thanks very much for your support of Enviro-Serv Inc. We truly appreciate our shareholders.
Christoph A. Trina
Chairman and CEO, ESI
About Enviro-Serv, Inc.
Enviro-Serv, Inc. (OTC Pink: EVSV) (PINKSHEETS: 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.
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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