A financial investment of Inform Worldwide Holdings, PrimaCare Corporation, reported additional information concerning the Letter of Intent to acquire Medical Resources, LLC. The two companies have already begun integrating their business systems and management, and anticipate the closing of the transaction after the required audits are completed.
The revenues for Medical Resources totaled $65 million for the first six months ended on June 30, 2007 and a net income of $2.8 million. For the year 2006, the company had revenues of $135 million and a net income of $13.2 million. The financial figures reflected are unaudited.
Inform Worldwide Holdings, Inc. is a company focused on identifying and pursuing revenue opportunities. The company recently signed an agreement with Soam Oil & Gas Investments, LLC to acquire Soam’s interest in two significant oil and gas projects in Osage County, Oklahoma, and the company is also acquiring surface coal leases in Pennsylvania.
Inform Worldwide Holdings’ partnership with Soam Oil & Gas Investments, LLC provides the company with an 80% net revenue interest in two projects located in Osage County. The projects are spread over 2,700 acres of land and include 68 wells which are producing approximately 60 barrels of oil per day. The management believes there is great potential to double production by re-drilling 22 inactive wells on the Cornellus and Roark prospects, which could value production over $3.2 million next year with ownership interest exceeding $2.5 million.
In order to diversify its portfolio and reduce the risk associated with solely concentrating on oil and gas, the company formed a Coal Advisory Panel to identify acquisition opportunities and perform due diligence on prospective coal projects. Earlier this year the company acquired a surface coal lease located in Indiana County, Pennsylvania, and is currently finalizing negotiations with other leaseholders.
Inform Worldwide has attracted the interest of many investors. Recently it received a $4.20 price target by Beacon Equity Research and was added to Zacks Investment Research’s performance stock list. There is much potential for the company as it strives to complete its goals by accomplishing the necessary objectives to reach them.
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