Speedemissions Acquires Mr. Sticker on June 30, 2005; Closes Equity Financing with Barron Partners LP.ATLANTA -- Headline of release should read: Speedemissions Acquires Mr. Sticker on June 30, 2005; Closes Equity Financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. with Barron Partners LP (sted Speedemissions Acquires Mr. Sticker on June 30, 2005; Closes Equity Financing with Barron Partners LP Tuesday July 5, 2005). The corrected release reads: SPEEDEMISSIONS ACQUIRES MR. STICKER ON JUNE 30, 2005; CLOSES EQUITY FINANCING WITH BARRON PARTNERS LP Speedemissions, Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : SPEM SPEM Software Process Engineering Metamodel (OMG specification) SPEM Semi-Spectral Primitive Equation Model - News), a leading vehicle emissions testing and safety inspections company announced today that it has made its first acquisition of 2005 with the purchase of Mr. Sticker on June 30, 2005. Mr. Sticker, a 20 year-old company with 6 stores, is the largest emission testing/safety inspection company in Houston. It will continue to operate under the Mr. Sticker name. This acquisition expands Speedemissions operations to 28 vehicle emissions testing stations in the Atlanta and Houston markets. The company further announced that on June 30, 2005, it sold $6,420,000 worth of Speedemissions Series B Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". to Barron Partners LP, a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of based private investment partnership. The proceeds were partially used for the acquisition of Mr. Sticker along with additional future acquisitions. Prospect Financial Advisors, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , acted as the financial advisor and placement agent for this transaction. Rich Parlontieri, President/CEO of Speedemissions commented, "June 30th was a very significant day in the execution of our business strategy. We are pleased that Barron Partners elected to invest in our business as they bring a whole new dimension to our ability to create value for our shareholders and accelerate the growth of the company. This investment allowed us to acquire the premier emission testing & safety inspection company in the Houston market. Mr. Sticker should add about $2.75 million in annual revenue. We now expect fiscal 2005 revenue will reach approximately $6.4 million. As was previously announced, we have also entered into a letter of intent to acquire Just Inc. of Salt Lake City and expect to close this transaction by the end of July." Additional information about Speedemissions can be found at: www.stocksontheweb.com. About Speedemissions, Inc. www.speedemissions.com Speedemissions, Inc., based in Atlanta, Georgia, plans to become the leading vehicle emissions (and safety inspection where required) company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. in areas where auto testing is mandated by the Environmental Protection Agency Environmental Protection Agency (EPA), independent agency of the U.S. government, with headquarters in Washington, D.C. It was established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and (EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. ). Since the emissions testing market is highly fragmented, Speedemissions expects to be the first company to create a national brand offering their customers quick and efficient vehicle emissions testing service. The initial focus of the company is in the Atlanta, Georgia and Houston, Texas markets. The Company expects to continue to rapidly expand store sites. Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for Speedemissions' products and services, its ability to succeed in growing revenue, the effect of new competitors in its market, integration of acquired businesses, and other risk factors identified from time to time in its filings with the Securities and Exchange Commission. |
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