AHFP-reverse merger
From The CEO Of AHFP.
Weekly Update
We signed a Letter of Intent today and filed a Form 8-K to indicate our company has reached an agreement to acquire 100% of a premium food company. This acquisition will get us a turn-key operation that will enable us to add some capital and management to grow this business beyond its current customer base of high-end specialty outlets and online and catalog sales into one that is focused more on the $6 billion retail food sector.
A press release will be issued very soon, although the press release is attached as an exhibit to the Form 8-K.
Financing plans will soon be announced as will a recapitalization plan. One of my goals is get current shareholders to retain a decent percentage ownership of the company post-closing. We are confident that the current market capitalization will increase dramatically if this deal closes, with the current shareholders stake in the post-closing company being well in excess of our entire market value now, although this opinion could never be stated with complete assurance. We are also in various stages of negotiations with two other companies and will open up discussions with another company that we attempted to acquire earlier this year, although we didn't think the seller was ready at that time. With the acquisition that we announced today, our positioning will change. In discussions last week, we believe the seller of this business now sees greater benefit in joining forces with us.
Let's hope for a successful outcome on this first transaction as we have waited a long time for this business opportunity to come around.
Regards,
Dan
Trader's Cove-(NASDAQ)
Simple's Green room-(FOREX)
