- Stockprowler’s pick this week...
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- Universal Express, Inc. (OTC BB: USXP)
- 1230 Avenue of the Americas, Suite771
- New York, NY 10020
- Richard Altomare, CEO
- Phone: 917 639-4157
- Website:
http://www.usxp.com/
- Shares Outstanding: 276.5 million
- Market Capitalization: $3.15 million
- Closing Price Friday 1/3/03: $0.0114
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- About 18 months ago we ran a profile report on Universal Express
(OTC BB: USXP) and within days the stock price climbed an incredible
600%. Well, once again, the stock price is in the cellar, bashers are
all over this stock on the Raging Bull message board, and rumors of
market maker manipulation/ huge short positions abound. It is our
opinion that USXP may be getting ready to make another run.
To recap… USXP provides an array of services to the private postal
industry, including international air courier delivery through
WorldPost.com, Luggage Transportation and Logistics through Luggage
Express. USXP's principal subsidiaries and divisions include the Private
Postal Network, it's sub division PBC Network.com, USXP Logistics, and
it's sub-divisions, WorldPost Network.com, Luggage Express, and Virtual
Bellhop. USXP also has its own leasing division USXP Capital. The
business model is quite similar to the highly successful FTD Florists
Network. USXP provides storeowners with a variety of cost-effective
services and products to increase their profitability, while they still
maintain their local identities or franchise loyalties. The PBC
Network's goal it to provide consumers nationwide with a feeling of
quality assurance when they frequent a PBC Network location. The PBC
Network has been formed to create a value-added association among
packaging and shipping centers as well as the actual carriers of freight
worldwide. Richard A. Altomare, CEO of USXP, stated, “We have positioned
Universal Express at the center of an innovative business providing
products and services to the private postal industry, serving over 9000
stores in communities all over America.
What makes USXP a very interesting trading speculation at little
more than 1 cent is the following:
- On July 26, 2001, Univeral Express, Inc. announced that a jury in
the Circuit Court, Dade County, Florida awarded USXP a damage verdict
after trial of $389 million dollars against Select Capital,
Ronald G. Williams and Walter S. Kolker for fraud and conversion and
for failure to honor previous funding commitments and stock
manipulation.This judgment is final and non-appealable.
- October 7, 2002 - USXP announced a quarterly revenues increase of
300% over last year's total revenues for USXP Capital, in excess of
$1,200,000 on bookings of over $9,000,000 worth of equipment. "I am
excited to announce that these first quarter results reflect continued
growth within our division. These strong revenue gains were
accomplished even considering the persistent tightening of commercial
lending credit criteria and is prior to our planned lease
platform/facility acquisitions," stated David Russell, President of
USXP Capital. "This is a direct reflection of the confidence that our
strategic partners and national network of
vendors/manufacturers/distributors has in USXP Capital during this
challenging financing cycle. Our planned lease platform acquisition
capabilities will further support our uninterrupted growth within the
opportunities in the commercial leasing industry," concluded Mr.
Russell "USXP Capital's growing revenue contributions will support our
overall corporate objectives. The solid business foundation being
established will serve to strengthen the long term value of Universal
Express' programs," said Richard A. Altomare, Chairman and CEO of
Universal Express.
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October 8, 2002 - International Herald Tribune, one of the world's
premier international newspapers with circulation around the globe. In
a weekly "Frequent Traveler" column that today featured baggage-free
travel, Luggage Express is given credit as a "door-to-door courier
service in the United States"..."extending throughout the world, right
now to most main cities in South and Central Americana, parts of the
Caribbean and to most European cities," according to correspondent
Roger Collis. The International Herald Tribune,
www.iht.com, has an extremely prestigious reputation and prides
itself on combining its own powerful news gathering capabilities
together with the best of The Washington Post and The New York Times.
Headquartered in France, the newspaper has bureaus throughout the
world, along with strategic alliances with leading national newspapers
in key countries such as Germany, The Netherlands, Spain, Italy,
Israel and Japan among others.
- Oct. 24, 2002 - USXP announced the signing of a
letter of intent to acquire a majority interest in ALS Financial. ALS
Financial is an equipment leasing company established in 1990 and
provides acquisition capital in the continental United States. "This
acquisition will strengthen USXP Capital's equipment offering
diversification strategy and provides quality credit facilities from
some of the nation's leading commercial lending institutions. The firm
has provided quality services to equipment vendor's and end-users
nationwide for 12 years and is well respected within its industry
niche" stated David Russell, President of USXP Capital.
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Oct. 25, 2002 - USXP Capital has executed a
letter of intent to purchase United States Coach, one of the nations
leading manufacturers of commercial transportation vehicles. United
States Coach is recognized by Ford and General Motors as qualified
fabricators of their products for use in the commercial livery and
transportation industry. The company possesses the coveted QVM
(Qualified Vehicle Modifier) and CMC (Cadillac Master Coachbuilder)
status held by less than 20 firms worldwide. US Coach and its Bohemia
NY manufacturing plant is presently recognized by Newsday as one of
the TOP 100 privately held companies on Long Island. "USXP Capital has
developed lease financing programs utilized by manufacturers of
limousines, commercial vans, and buses throughout the United States.
US Coach has been a recognized icon in this business for the last
decade and its principals are acknowledged as industry leaders,"
stated David Russell, President of USXP Capital. He continues, "The
addition of US Coach to the Universal Express family of companies
results in multiple benefits to both entities by providing a public
vehicle for manufacturing development capital during the recovery of
the industry while presenting the footprint to establish a captive
finance company under the USXP Capital umbrella." "Universal Express
is proud of the effort made by both teams to bring this acquisition to
the table. US Coach's' national recognition as a premier manufacturer
and its' established revenue base, which exceeds $20,000,000 annually,
is a welcome addition to the maturing business foundation of Universal
Express and its subsidiary USXP Capital," said Richard A. Altomare,
President and CEO of Universal Express. "The entire staff of United
States Coach embraces entering the next era of vehicle manufacturing
as a member of the Universal Express team. With the exciting
opportunities that lay ahead of us in our industry, the acquisition
and its resulting beneficial foundations will permit US Coach to
continue its growth and become the nations number one coach and bus
manufacturer," concluded John Gore, President of US Coach.
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Nov. 21, 2002 - USXP announced additional funding
of $25,000,000 from TransAmerica and New Millennium Financial, funding
specifically directed for a cargo airline acquisition. "This funding,
in addition to other previously announced funding of $100,000,000 and
$460,000,000, which have been targeted for land and bus transportation
and third party logistical delivery acquisitions, is designed to
advance our delivery network capabilities and obviously add revenues
and personnel infrastructure," said Richard A. Altomare, President and
CEO of USXP.
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Jan. 2, 2003 - USXP announced that its
subsidiary, USXP Capital, has executed a contract to acquire United
States Coach, one of the nations leading manufacturers of commercial
transportation vehicles with over 4500 constructed and historical
revenues exceeding $25 million annually. This transaction additionally
completes the requirements to conclude the acquisition of Go Leasing,
a $12 million asset based finance/lease affiliate of US Coach, thus
further enhancing USXP Capital's credit facilities as well as its
future bus cargo retrofit modification capabilities. United States
Coach is recognized by Ford and General Motors as qualified
fabricators of their products for use in the commercial livery and
transportation industry. The company possesses the coveted QVM
(Qualified Vehicle Modifier) and CMC (Cadillac Master Coachbuilder)
status held by fewer than 20 firms worldwide. US Coach, at its
manufacturing plant in Bohemia, New York, is presently recognized by
Newsday as one of the Top 100 privately held companies on Long Island.
USXP trading at a penny a share looks to us like a bottom
fisher’s dream… with all the bashing going on, and what looks to us like
market maker manipulation, you have to wonder if this this little gem
may be about ready to take off. Just our opinion… but we think that all
of the ingredients are here now for a run. Remember, you saw it first on
Stockprowler.com. Stockprowler readers are encouraged to visit the
Universal Express, Inc. website for further information.
Stockprowler.com did not receive compensation of any kind from the
company or third parties for writing this report. Readers are urged to
read the company SEC filings and do their own due diligence before
investing in this or any other stock.
Good Trading... Stockprowler
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