TAMPA, FL--(Marketwired - May 20, 2014) - Enviro-Serv, Inc. (OTC: EVSV), a growing company in the commercial and residential property maintenance industry, announces today that it has formally filed a Regulation A offering statement with the SEC to raise $1,500,000 to fund corporate expansion initiatives.
CEO Chris Trina states, "Most pink sheet companies that initiate a REG A offering fail to follow through due to lack of accountability in terms of responding to questions and comments while under merit review with the SEC. This will not be the case for Enviro-Serv. We have filed a very thorough and clean offering using a highly qualified attorney and law firm. Although we expect to see comments from the SEC within the 20 day review time-frame we intend to address any comments swiftly and effectively. Shareholders should be very excited about this milestone event as raising capital is the key to our future success and in executing our business plan."
Regulation A (REG A) is an exemption which allows eligible issuers the right to claim the exemption and raise up to $5 million in securities sales in any 12 month period. EVSV plans to raise $1.5m to fund future acquisition opportunities, additional sales force personnel, marketing and overall brand expansion, geographically and in terms of overall service offerings.
EVSV's Institutional Investor based in New York also has confidence in the effective filing of this REG A offering and has recently provided an additional $25,000 bridge loan. Furthermore they have entered into an investment agreement as part of the REG A with EVSV to raise the $1,500,000 in a series of tranches the investors intend to provide toward overall growth of EVSV.
"This is an exciting time for EVSV and its shareholders," states Trina. "As we continue to work toward final execution of an attractive acquisition which we are confident will translate to $1m+ in revenues over the next year, we continue to build a strong company in terms of both operations and public markets. To that effect, though there are many things happening for us right now, I want to further state, officially and as stated in my shareholder update letter, that EVSV is not considering a reverse stock split as we feel revenues and investments in our company from our Institutional investor may lead to more attractive ways in terms of strengthening the overall integrity of the public company while continuing to build shareholder value. Additionally we filed our financials last week in a timely manner. All information on OTCMARKETS.COM is 100% up to date and accurate. As long as I'm the CEO of this company investors can fully rely on total transparency of this company."
Meanwhile, EVSV's target acquisition as previously announced, is still on track for final signature and remittance of deposit which serves as a catalyst for the deal, in the coming days.
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.