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Able Energy Inc. Message Board

  • bionic_research bionic_research Mar 10, 2005 8:30 AM Flag

    ABLE to issue more stock? DILUTION!!

    From the recent press release:

    Able Energy, Inc., Recognizes Recent Stock Appreciation
    Wednesday March 9, 6:15 pm ET

    ..........However, other than information, which has been previously publicly released by Able, management is not aware of any other circumstance, which they can attribute to the increased stock price. On March 4, 2005, the Company announced its intention to acquire All American Plazas, Inc., ('All American") a privately held company headquartered in Myerstown, Pennsylvania. All American is currently owned by the same entity that has recently purchased a 50% interest in Able. All American Plazas owns and operates interstate travel plazas in four Northeastern States. As announced last week, it is contemplated that the acquisition will be finalized with the shareholders of All American Plazas, who may accept newly issued restricted common shares of Able Energy, Inc. stock in exchange for all of the issued and outstanding common stock of All American Plazas. If the acquisition is finalized, Able will acquire the All American Plazas shares for a purchase price of approximately $30 million, through the issuance of Able common stock.

    Not good for the stock price.

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0.0010.000(0.00%)Oct 22 9:33 AMEDT