Another PCMC Client Achieves Milestone in Quest to Trade Publicly
29 1월 2009 - 12:12AM
Marketwired
Public Company Management Corporation (OTCBB: PCMC) announced that
one of its clients obtained effectiveness of its $1 Million Nevada
State Registered Offering of common stock. The client plans to file
with the United States Securities and Exchange Commission (SEC) to
become fully reporting and the Financial Industry Regulatory
Authority (FINRA) to become publicly traded on the over-the-counter
Bulletin Board (OTCBB).
Nevada's State Registered Offering allows companies to raise up
to $1 Million by offering securities to residents and qualified
guests in the state of Nevada. The client's President and CEO will
serve as the client's agent of the issuer in the self-distribution
of its shares of common stock.
"This is our second client to obtain effectiveness during our
first quarter of fiscal 2009, and another example of a proactive
small business with the foresight to take advantage of Nevada's
business-friendly practices," said Stephen Brock, President and CEO
of PCMC. "We continue to believe that for small companies that need
to infuse new capital into their operations, Nevada's State
Registered Offering is one of the only options available and the
best way to get started during this credit crunch and tough
economic time. Taking this step is ideal as a training ground for
becoming a fully reporting, public company, and we look forward to
working with another client as they progress on this journey."
About the Client and Its Industry
The client is a Las Vegas-based operator of seven full service
automotive maintenance and repair shops. The client was founded in
2002 with one store, and in the past six years, the client has
grown to seven stores by developing a proprietary operating model
that demands customer satisfaction and delivers high quality
services at fair prices through experienced, well trained, well
equipped and motivated employees. The client's mission is to
provide high-quality, reliable and trustworthy automotive repair
and services for retail customers and commercial businesses. The
client generated net sales of $4.3 Million, had net income of
$9,797 and had net cash flows from operating activities of $201,479
during the fiscal year ended March 31, 2008.
According to First Research, the US auto repair shop industry
includes about 170,000 firms with combined annual revenue of $90
Billion. The industry is extremely fragmented: the 50 largest
companies hold less than 10% of the market. This industry generally
includes quick oil change shops and car washes and excludes tire
shops. Demand depends on car usage and the number of cars on the
road. The profitability of individual companies depends on
convenient location and good marketing. Large companies can
maximize use of expensive diagnostic equipment and have advantages
in purchasing, distribution, and marketing. Small companies can
compete effectively by providing superior customer service or
offering specialized services. The industry is labor-intensive, and
competition includes other venues that provide automotive services,
including some gas stations, car dealerships, and branches of chain
stores. Auto repair shops perform an estimated 70% of repairs for
out-of-warranty vehicles, according to the Automotive Service
Association (ASA).
About Public Company Management Corporation
PCMC is a management consulting firm that educates and assists
small businesses to improve their management, corporate governance,
regulatory compliance and other business processes with a focus on
capital market participation. We provide solutions to clients at
various stages of the business lifecycle:
-- Educational products to improve business processes or explore entering
the capital markets.
-- Consulting to early-stage companies planning for growth.
-- Management consulting services to companies seeking to enter the
public capital markets via self-underwriting or direct public offering or
move from one capital market to another.
-- Regulatory compliance services to fully reporting, publicly traded
companies.
As a public company with its common stock quoted and traded on
the OTCBB, PCMC endeavors to lead by example.
In an effort to engender greater awareness, transparency and
mainstream legitimacy to the OTCBB, a frequently misunderstood
capital market, PCMC has established the PCMC Bulletin Board 30
Index�, which can be viewed at
http://PublicCompanyManagement.com/PCMC-30. The companies listed in
the index are not clients of PCMC and PCMC does not own any of
their securities.
Safe Harbor
This press release contains or may contain forward-looking
statements such as statements regarding PCMC's growth and
profitability, growth strategy, liquidity and access to public
markets, operating expense reduction, and trends in the industry in
which PCMC operates which could have a material effect on PCMC's
current business model, the ability of PCMC's clients to access
capital markets through the sale of common stock or otherwise, to
file and become fully reporting, publicly traded companies or to
satisfy the SEC periodic or other reporting and/or corporate
governance requirements if such clients were to become fully
reporting public companies, and the ability of PCMC or any of its
subsidiaries to consult with or advise its clients with respect to
accomplishing any of the same. The forward-looking statements
contained in this press release are also subject to other risks and
uncertainties, including those more fully described in PCMC's
filings with the SEC. PCMC assumes no obligation to update these
forward-looking statements to reflect actual results, changes in
risks, uncertainties or assumptions underlying or affecting such
statements, or for prospective events that may have a retroactive
effect.
Public Company Management Corporation (OTCBB: PCMC)
Contact: Public Company Management Corporation Stephen Brock
Chief Executive Officer Phone: (702) 222-9076 Email Contact
http://www.PublicCompanyManagement.com
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