CAVU Resources, Inc. (CAVR) announced today results of its second quarter revenues. Company recorded net income of $1,600,638 which represents a 1,500% increase in profitability for the six months ending June 30, 2011 vs $108,000 in 2010. CAVR increased its assets from $4,801,013 to $6,791,165 and shareholders’ equity from $832,051 to $3,739,919.
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“We are happy the growth and profitability are meeting our goals. With the planned spinoff of CAVU Energy Services, Inc. and the operational overhead being moved to the new company our job will be to seek out new acquisitions and manage the investment for growth and increased value for our shareholders,” stated William Robinson , CEO and President of CAVU Resources, Inc.
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CAVU Resources, Inc.
5147 South Harvard Ave. STE 138
Tulsa, OK 74135
Tel: (504) 722-7402
Fax: (918) 782-0776
http://www.cavu-resources.com
CAVU’s operating subsidiary, CAVU Energy Services, Inc. , licensed Oil and Gas Operating Company manages the company’s properties in Oklahoma and plans to operate targeted leases in Kansas , Colorado , Montana and Texas . The company will utilize its own operating equipment and with strategic partners provide contract drilling, fracture stimulation and directional drilling services to oil, natural gas exploration and production companies. CAVU plans to expand operations not only in the traditional Oil and Gas business, but also to invest in technology, waste disposal, Geo-Thermal and Wind, taking advantage of the changing environment and in the world’s need for new, green and innovative resources.
Eco Ventures Group, Inc. (EVGI) announced today after market hours that company has received a Firm Letter of Commitment from a private funding group.
The commitment letter provides $15,300,000 in funding for the Company in the form of a three-year loan bearing eight percent (8%) interest. The loan will be secured by the assets of the Company.
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In addition, the Company’s new partners will acquire approximately 20% of the Company through the purchase of preferred stock at $2.50 per share. Upon full conversion of the preferred stock they will receive 11,760,000 shares of common stock. These shares are currently being held in escrow and there will be no further dilution to our shareholders as a result of this funding.
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Eco Ventures Group, Inc.
7432 E. Highway 50, Suite 101
Groveland FL 34736
Tel: (352) 557-4830
http://www.ecoventuresgroup.com
info@ecoventuresgroup.com
Eco Ventures Group Inc. is a family of ecologically-friendly and economically sound business ventures. The Company is committed to providing for society’s growing minerals, energy and renewable resource needs while building shareholder value and profiting from the commercialization of new green technologies.
Eco Ventures Group concentrates on two core business activities; precious metals recovery and extraction and the production of advanced biodiesel fuel.