SOURCE: The Furia Organization

November 21, 2005 13:40 ET

Furia Organization Receives $3 Million Financing Commitment to Expand Its Refrigerated Truck Fleet for Its Fortune 500 Customers

ROCKWALL, TX -- (MARKET WIRE) -- November 21, 2005 -- The Furia Organization (OTC BB: FURA), an emerging refrigerated trucking company and brokerage, announced today that it has secured an initial $1.5 million in financing with an immediate drawdown of $1 million.

The financing agreement calls for an 8% convertible note with a pre payment option. After the initial $1 million funding, another $500,000 will be received by Furia when a registration statement covering the underlying shares is filed. An option for another $1.5 million is available to Furia when the registration statement is effective.

According to Michael Alexander, CEO of Furia, "We decided to fund our truck and trailer growth with this agreement rather than with a previous Central States leasing agreement since this funding allows us greater flexibility in getting the best prices for the trucks and refrigerated trailers we are adding to our system." He continued, "As we satisfy our customer needs this agreement makes more sense in helping Furia to achieve better profit levels for our shareholders."

"The first financing drawdown should allow Furia to put up to 25 trucks and 50 refrigerated trailers on line generating positive cash flow and net income. This jump starts our business very quickly," said Michael Alexander.

ABOUT FURIA: Furia is an emerging refrigerated trucking company and brokerage in the capacity constrained refrigerated segment with contracts for Fortune 500 companies such as Swift Meats and Coors.

Safe Harbor Statement:

Forward-looking statements and comments in this news release are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements regarding potential future plans and objectives of The Furia Organization are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond The Furia Organization's control. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially depending on many factors, including those described above. The Furia Organization cautions that historical results are not necessarily indicative of the company's future performance.

About The Furia Organization:

The Furia Organization is a Delaware corporation with branch offices in Rockwall, TX. The Furia Organization expects to grow their business specifically in the areas of distribution of flatbed, dry van and refrigerated loads. The Furia Organization is the only referral based marketing transportation logistics brokerage and currently has over 500 members.

Contact Information

  • Contact:
    The Furia Organization
    2233 Ridge Road Suite 102
    Rockwall, TX 75087
    Email Contact