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Pexcon, Inc. (Pink Sheets: PXCN) |
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Dear Reader,
If you haven’t heard that oil and gas prices are approaching record levels, put down your mouse, back away from the keyboard and head straight to the eye and ear specialists in your area. Be sure to lock your bike up safely as it would be impossible to own an automobile and not know this.
Today’s featured company, Pexcon, Inc. (Pink Sheets: PXCN), has embarked on an oil-driven business plan that’s clearly trying to minimize the risks inherent. Pexcon, you see, is not just an exploration company. Rather, they are also focused on acquiring interests in oil-rich properties and maximizing their output through a proprietary efficiency model. In fact, they are even assisting other oil & gas company's using the Pexcon system.
With headlines like this one published on Sunday, March 20, could there be a better time to consider oil and gas?
“The average price of a gallon of self-serve, regular gasoline shot up nearly 13 cents over the past two weeks, to a record $2.10, a national survey said Sunday.”
source: CNN Money
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About Pexcon |
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Pexcon, Inc. ("Pexcon" "PXCN") is an oil and gas exploration and development company and has entered into agreements with several companies to expand and rework existing energy properties and to acquire new revenue producing properties. The Company's aggressive and strong management has secured several credit lines and operating assets to ensure PXCN growth and increased shareholder value. Company management has also developed a strategic marketing plan to capitalize on Pexcon's oil and gas reserves.
Adding Revenues
The Company announced an agreement with Cherokee Production to purchase working interests in the Whatley Well, a natural gas well with reserves of 2,673,445 MCF. This single project is expected to generate $1,700,000 in revenues for the company. (see the News Release below)
Access to Capital
The company has been provided multiple offers for short-term financing based on the strength of its business plan. The company feels it is important to structure a 'shareholder-friendly' package that will reduce or eliminate near-term dilution of its common stock. (see the News Release below)
The Company established a $10 million dollar line of credit from US Euro Securities, Inc., in early February 05. This is not a 'toxic' deal and will result in Pexcon becoming a fully-reporting company. (see the News Release below)
Assets
The company has assets in the working interests of revenue-producing wells, as well as a significant asset in the patents and business of Digital Media Resources which controls their flagship 'Glow-Bench' product, a advertising and marketing device that the company believes is valued at over $350,000. Photos of the 'Glow-Bench' can be viewed (here). Digital Media Resources has a contract to work with EZ Masonry to install digital media products in Home Depot and Loewe's.
Cash Flow and Debt
The company expects to be cash-flow positive and eliminate long-term debt during Q2-2005, which is impressive as Pexcon has only been trading publicly since December 2004.
Pexcon Oil and Gas
How Pexcon plans to grow its' oil & gas reserves and earnings
1.) By offering private placement drilling programs to investors. The company will typically retain 10% to 25% of every well.
2.) By forming strategic alliances with industry partners and getting carried and working interest in the wells
3.) By putting together large blocks of oil & gas properties ($25 million and up) for large pension plans, insurance companies, and institutional investors.
 
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Recent Coverage of Pexcon |
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PEXCON, Inc Acquires Interest In 2,673,445 MCF Natural Gas Well
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Pexcon has signed an agreement with Cherokee Production, based in Goliad, Texas, to purchase a working interest in a revenue-producing natural gas well.
The agreement will produce revenue for Pexcon for over 5 years!
Natural gas prices have increased nearly 20% since January!
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Under the terms of the agreement PEXCON will purchase incremental units of the Whatley Well with the initial transaction completed within one week. Initial revenues from the Well will begin at $750 and will increase up to $15,000 monthly as PEXCON purchases additional working interests. Furtherrmore, PEXCON believes that as a result of recent financing activities, it is reasonable to project that the company will increase its interest in the Whatley to $500,000 within the next two months.
PEXCON has also agreed to drill an offset on the Whatley Well which would increase monthly revenue to $27,000. Provided the company drills the offset and will purchase the maximum interest as offered in the agreement, the Whatley Well will be producing revenue for PEXCON for approximately five years and will offer a total revenue opportunity of more than $1,700,000. To read the entire release and disclaimer, the link is HERE
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The Pexcon Management Team |
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Directors and Management
Dan Beauchamp - Director and President.
Mr. Beauchamp was formerly a Special Agent with the FBI, a Corporate Security Analyst for Continental Oil Company, and a Foreign Assistance Inspector for the U.S. State Department.
Murdock MacGregor - Director.
President of Doors, Inc., a company specializing in the distribution of building supplies. He graduated from the University of Ohio.
Jacqueline Parks - Director.
Chief Technical Officer and co-founder of Voiceports, Inc. She holds a Masters Degree in mathematics from the University of Colorado.
Michael Shores - Director.
President and founder of Texas Prototypes. He is a graduate of the University of Arkansas.
Chairman
Gerald M. Dunne
Mr.Dunne, upon graduating University began his career as an analyst at Standard & Poors, Corp. He left this position and joined the Fairfield County Trust Company, Stamford, Connecticut in the trust department as an analyst. He became an independent financial consultant in 1966 and raised venture capital and assisted in the public offerings of many companies.
Investor Relations
Peter McGoldrick - Integrity IR Services
516-825-6516, integrityir@optonline.net
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Recent News From Pexcon |
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Press Release Source: PEX
Wednesday March 16, 11:18 am ET
PEXCON, Inc. Announces Shareholder Update
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 16, 2005--PEXCON, Inc. (OTC: PXCN.PK - News), an oil and gas exploration and development company, announces various corporate updates.
PEXCON has received a firm offer, in writing, to provide the company short-term financing to accelerate its business plan prior to receipt of the US Euro Securities line. The company has also met with an additional two investment firms interested in providing short-term financing, who may provide PEXCON with additional written offers. The company feels it is important to structure a 'shareholder-friendly' package that will reduce or eliminate near-term dilution of PEXCON common stock. To read the entire release and disclaimer, the link is HERE
Tuesday February 22, 10:41 am ET
PEXCON, Inc. Enters Into Negotiations To Sell Digital Media Resources, Formerly Glow-Bench Systems
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Feb. 22, 2005--PEXCON, Inc. (OTC:PXCN.PK - News) announces that it has entered into negotiations with a publicly traded company to divest its interest in Digital Media Resources, formerly Glow-Bench Systems. PEXCON acquired the assets and operation of Digital Media Resources in December 2004, and is presently a wholly-owned subsidiary of the company.
PEXCON intends to use the proceeds from the sale of Digital Media Resources to fund its ongoing oil and gas operations. PEXCON believes this sale is prudent and aligned with its core interests and continuing efforts to increase shareholder value. PEXCON anticipates closing this transaction by the end of the current quarter. To read the entire release and disclaimer, the link is HERE
Wednesday February 9, 9:09 am ET
PEXCON, Inc and US Euro Securities, Inc
Agree to 10 Million Dollar Line
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Feb. 9, 2005--PEXCON, Inc. (OTC:PXCN.PK - News) an oil and gas exploration company announced that it has been offered a $10 million dollar line from US Euro Securities, Inc. The company plans to use these funds to acquire oil and gas properties. The agreement requires that Pexcon, Inc. become a fully reporting Bulletin Board company.
PEXCON, Inc., President Dan Beauchamp stated "This is a milestone for Pexcon and our shareholders. We look forward to working with a first class organization with the reputation of US Euro Securities and developing PEXCON, Inc. into the type of firm our investors will be proud of." He further commented "The company is focused on fulfilling the terms and conditions related to financing package, which include becoming fully reporting, as quickly as possible". However, this process is estimated to take between four to six months. To read the entire release and disclaimer, the link is HERE
Monday January 24, 12:09 pm ET
Pexcon, Inc. Retains US Euro Securities, Inc.
for Investment Banking Services
GULFPORT, MS--(MARKET WIRE)--Jan 24, 2005 -- Pexcon, Inc. (Other OTC:PXCN.PK - News) an oil and gas exploration and development company has retained US Euro Securities, Inc. for investment banking services. US Euro Securities is a private, global investment bank headquartered in Los Angeles, California that provides global financial solutions. The firm has a team of experienced financial professionals throughout the United States, Europe and Asia and is focused on providing a wide range of financial advisory services, including equity and debt financing, mergers and acquisitions as well as domestic and international business development for a select clientele. To read the entire release and disclaimer, the link is HERE
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Financial Highlights For Pexcon |
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Recent Price: $0.075
52 Wk Hi $0.10
52 Wk Lo $0.001
Outstanding Shares: 57,120,000 as of 2005-03-01
Authorized Shares: 200,000,000 as of 2004-05-13
State of Incorporation: DE
Year of Incorporation 2002
Transfer Agent:
Holladay Stock Transfer, Scottsdale, AZ 85251 |

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Please note: PXCN is a fairly liquid stock often trading in volumes over 165,000 shares (within the current price range). PXCN's level2 quotes can be viewed, for free, on the pinksheets website : http://www.pinksheets.com/quote/quote.jsp?symbol=PXCN.
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To Contact Pexcon |
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PEXCON, Inc.
Peter McGoldrick, 516-825-6516
Fax: 516-825-2254
1580 Sawgrass Corporate Pkwy., Suite 130, Sunrise, FL 33323 USA
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