Published: July 05, 2005
Bad Toys Holdings, Inc. to Acquire an Additional $10 Million in Revenues
Bad Toys Holdings, Inc. (OTC BB: BTYH)
announced today it has signed a Binding Letter of Intent to acquire DHP,
Inc., an emergency ambulance service provider based in Kentucky.
Southland Health Services, Inc. ("Southland"), a wholly owned subsidiary of
Bad Toys Holdings, Inc. and the shareholders of DHP, Inc., executed a
binding Letter of Intent on July 1, 2005, wherein the parties agreed that
Southland will acquire 100% of the issued and outstanding common stock of
DHP, Inc. in exchange for $2,500,000. Southland will pay the purchase
price by making a cash down payment of $1,200,000 and delivering its
promissory note for $1,300,000. Additionally, the shareholders of DHP,
Inc. will receive warrants to purchase 100,000 shares of the common stock
of Bad Toys Holdings, Inc. at an exercise price of $1.00 per share. The
acquisition of DHP, Inc. will add the State of Kentucky to Southland's area
of coverage.
DHP, Inc.'s gross billings are estimated to exceed $10 million annually.
DHP, Inc. is operating profitably and the transaction is scheduled to be
completed by August 31, 2005, subject to various conditions, including
Southland's ability to obtain financing on terms and conditions favorable
to Southland.
Upon completion of the acquisition, Bad Toys Holdings' Southland Division
will be operating in eight states with gross annual revenues in excess of
$70 million and net revenues exceeding $52 million as compared to
Southland's 2004 net revenues of $36 million.
"Bad Toys Holdings is continuing to work aggressively on its M&A program to
provide value and stability to its shareholder base," said Larry N. Lunan,
President and CEO.
About Bad Toys Holdings, Inc.
Bad Toys Holdings, Inc. (BTYH), participates in two distinct business
segments:
Southland Health Services, Inc.
This division provides medical transportation services, including emergency
and non-emergency ambulance services. Our Southland Division operates in
over 200 communities within the following seven states: Mississippi,
Alabama, Florida, Louisiana, Kansas, Tennessee, and Virginia. We operate in
excess of 160 ambulances and wheelchair vans and have over 1,100 full and
part-time employees. At our current run rate we will transport more than
130,000 patients in this calendar year.
Bad Toys, Inc.
This division, Bad Toys, Inc., American Eagle Manufacturing Company and
Gambler Motorcycle Company, continues to design, manufacture, distribute,
service and sell custom made, Harley-Davidson type, V-twin motorcycles from
component parts. We also offer premium accessories, parts, customizing
items and apparel related to Harley-Davidson motorcycles on-line and
directly from our retail and factory outlets. This division also
participates in Sprint Car Racing products and custom car construction &
restoration.
For further information, contact Bad Toys, Inc., Larry N. Lunan, President
and Chief Executive Officer, (423) 247-9560 or Al Kau, Investor Relations
in California at (888) 795-3166. Further information about the Company may
be obtained on its website at www.badtoys.net.
Certain statements in this release and other written or oral statements
made by or on behalf of the Company are "forward-looking statements" within
the meaning of the federal securities laws. Statements regarding future
events and developments and our future performance, as well as management's
expectations, beliefs, plans, estimates or projections relating to the
future are forward-looking statements within the meaning of these laws.
The forward-looking statements are subject to a number of risks and
uncertainties including market acceptance of the Company's services and
projects and the Company's continued access to capital and other risks and
uncertainties outlined in its filings with the Securities and Exchange
Commission, which are incorporated herein by reference. The actual results
the Company achieves may differ materially from any forward-looking
statements due to such risks and uncertainties. These statements are based
on our current expectations and speak only as of the date of such
statements. The Company undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of future events,
new information or otherwise.
Distributed by Market Wire
Copyright © 2012, MarketWire
Copyright © 2012, NewsBlaze,
Daily News