SOURCE: Enviro-Serv, Inc.

Enviro-Serv, Inc.

August 25, 2014 07:30 ET

Enviro-Serv, Inc. Announces Letter of Intent to Purchase a Florida Based $1.4 Million A/C Company

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.

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."

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 diligence phase to be smooth and fairly quick and have no unexpected surprises whatsoever."

Mr. Trina ended his comments by saying this to the investing community, "I am very excited about our 2015 financials to potentially include two newly acquired companies with combined revenues of over $2.5 million and profits over $500,000. Additionally and most importantly we have the funding measures in place in our proposed REG-A filing with the SEC to raise this needed capital to make these acquisitions reality when given the green light to do so. These are indeed very exciting times at EVSV and current and future shareholders should be very excited to hold our stock."

The Enviro-Serv, Inc. BOD is excited to announce that a second preferred "C" class stock dividend will be soon be announced. The full details of this dividend regarding dividend percentage and record date timing are yet to be determined but should be announced within a couple of weeks.

The company looks forward to issuing further updates as it continues to achieve benchmarks toward long-term success for Enviro-Serv and its shareholders.

Enviro Serv, Inc. (OTC: 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. Please visit our websites at www.enviro-serv.com and www.xterminateinc.com to learn more.

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 solely 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.

Contact Information

  • CONTACT:
    CHRIS TRINA
    CEO
    Enviro-Serv, Inc.
    813-975-7177