[15482] in Public-Access_Computer_Systems_Forum
Undervalued Special Situation! Latest News Update...
daemon@ATHENA.MIT.EDU (Scottie Ibarra)
Fri Jul 23 10:20:05 2004
Message-ID: <h1-q-4wk20-3$6d9mf-$--9hv32au@u3s5p>
From: "Scottie Ibarra" <erinrockhill@pager.icq.com>
Reply-To: "Scottie Ibarra" <erinrockhill@pager.icq.com>
To: p6@mit.edu
Cc: <paa@mit.edu>, <pab@mit.edu>, <pablo@mit.edu>, <pablor@mit.edu>,
<pac@mit.edu>, <pace@mit.edu>, <pacheco@mit.edu>, <paco@mit.edu>,
<pacs@mit.edu>, <paddle@mit.edu>
Date: Fri, 23 Jul 04 16:20:28 GMT
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ICR Systems, Inc.
Symbol: ICRX
Current Price: $0.10 -- 12- Month Price Target: $1.20
Undervalued Special Situation
ICR Systems, Inc. is a unique and very undervalued special situation that =
is experiencing record growth through internal expansion of its core busin=
esses and synergistic acquisitions. Based on the Company's record backlogs=
, high growth rate, excellent operating margins, and increasing profitabil=
ity, ICRX shares, currently trading at only 10 cents, have realistic poten=
tial to appreciate 10-fold over the next 12 months to the $1.20 area. Kee=
p in mind that the stock is currently trading in a strong basing pattern a=
nd has been as high as 60 cents in the past 52 weeks.
Currently the Company has five subsidiaries, which include ICR Systems of =
Georgia, ICR Systems of Florida, ICR Power Systems, Meehan Electric Compan=
y, and Florida Bio-Compliance.
ICR Systems of Georgia and ICR Systems of Florida represent a diversified =
group of companies including electrical service, HVAC and plumbing contrac=
tors. ICR Power Solutions is a turnkey power solutions company that combin=
es the sales and installation process of alternative power source products=
such as generators, solar and wind. Meehan Electric is an electrical con=
tracting firm founded in 1959 that performs electrical contracting service=
s in the Southeastern United States. Florida Bio-Compliance is a firm tha=
t is involved with the destruction of =FFFFFF93red bag=FFFFFF94 medical
waste produced=
by medical offices and hospitals. The firm owns permits issued by the Sta=
te of Florida, which allow for the destruction of over 20 million pounds o=
f bio-hazardous medical waste each year. The Company is now in the late s=
tages of procuring funding for the construction for a new state-of-the-art=
waste incineration facility.
For the first quarter of 2004 there were two divisions reporting operation=
s. In the contracting division, total revenues increased 102% while gross =
profit increased 60% and net income before taxes increased 61=
% versus the year ago first quarter. In the service division, total revenu=
es increased 4%. However, as expected, due to the expansion costs of openi=
ng the new service areas in the Northeast Atlanta area, gross profits and =
net income before taxes decreased for the quarter. Future revenues and net=
income will not be subject to this mitigating factor. Moreover, each oper=
ating division with revenues was profitable on a stand-alone basis for the=
year, prior to one-time charges. Construction spending remains very stro=
ng and the Company's contract division continues to book contracts at a re=
cord level. Furthermore, when the Florida Bio-Compliance facility is cons=
tructed and ready to begin operations (expected in 2005), this business sh=
ould contribute about $2 million annualized net earnings to ICR's bottom l=
ine! Second quarter results are anticipated to be announced within the nex=
t two weeks and should show further positive growth progress.
ICR Systems is a well-managed profitable holding company that deserves the=
attention of all aggressive investors. Further acquisitions and internal =
growth will continue to accelerate its revenues and profitability. Also, a=
nd very importantly, the Company expects to file a 10-SB with the SEC with=
in the next three weeks to become a fully-reporting company on the OTC Bul=
letin Board. Eventually NASDAQ or AMEX listing would be a distinct possib=
ility.
ICR Systems is truly a company with a very bright future.
Disclaimer
---------------
Information within this email contains "forward looking statements" within=
the meaning of Section 27A of the Securities Act of 1933 and Section 21B =
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