SOURCE: INfe Human Resources

November 21, 2005 10:30 ET

INfe Human Resources, Inc. Announces a Second Formal Letter of Intent in Its Two-Acquisition Roll-Up in the Staffing Industry

LAS VEGAS, NV -- (MARKET WIRE) -- November 21, 2005 -- Daniels Corporate Advisory Company, Inc. dba INfe Human Resources, Inc. (OTC BB: IFHR) announces the signing of a second, formal Letter of Intent with a Tri-State Light Industrial Staffing and 3rd Party Logistics Firm, headquartered in New Jersey. Current Sales Revenues of $6.0 Million and an "estimated," adjusted, EBITDA profit of between $650,000 and $700,000 are expected for the 2005 calendar year. Its major client -- a Fortune 500 Company -- offers expansion possibilities along the East Coast.

Arthur D Viola, Chairman & CEO, said, "We are pleased to announced that the second of two acquisitions, in our two-company roll-up in the Staffing Industry, is now under Letter Of Intent."

"This potential acquisition and its subsequent merger and consolidation with the Monarch Human Resources, Inc. acquisition -- announced late last month -- will give the Daniels-Merchant Bank, Staffing Subsidiary estimated Total Revenues of $9.5 Million and an estimated, adjusted EBITDA of $1.15 Million, upon the completion of the acquisitions by yearend."

"After debt service, the consolidated companies are expected to be self-sustaining, with sufficient cash flow to fulfill all the expansion possibilities that are currently known."

For further information about this release contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, 800-631-8127.

Safe Harbor Statements contained herein, and other data, may constitute forward-looking statements. When used in this document, the words "estimate," "project," "intends," "expects," "believes" and similar expressions are intended to identify forward-looking statements regarding events and financial trends, which may affect the Company's future operating results and financial position. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contain statements that are forward-looking, such as those relating to consummation of the transaction, anticipated future revenue of the Company's and success of current public offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statement.

Contact Information

  • Contact:
    Rich Kaiser
    Investor Relations