[August 19, 2004] Automotive Capital Group, Inc. Announces Merger of Colfax Financial and Navicom to Close on Sept. 1, 2004, One Month Earlier Than Expected SCOTTSDALE, Ariz., Aug. 19 /PRNewswire-FirstCall/ -- Automotive Capital Group, Inc. announces the merger of Colfax Financial and Navicom GPS is expected to be completed one month earlier than thought on Sept. 1, 2004. This merger should give AOCP $0.30 earnings per share (EPS) and over $8,000,000 in revenue over the next 12 months. The merger will also give AOCP $5,000,000 in assets with 8 million shares ($0.62 per share in assets) outstanding. These numbers are in line with the company's current day-to-day business sales and operations. Currently, the company has two automotive dealer lots in Phoenix and Tucson, Arizona, which are financed by the company. The Navicom GPS division has over 1,000 subscribers and works in 98% of the US, Canada and Mexico. The company also announced the immediate goal to file the form-10 and become a fully reporting company. Once filed and approved, the next goal is move from the OTC market to the American Stock Exchange (AMEX). The company will also begin a series of investor road shows in the next months to educate the public about the company, services and technology. The company will also demonstrate the Navicom global positioning system which has seen substantial growth and interest in the past 60 days. The demonstration will include tracking location, speed of a vehicle and disabling the car from starting via the Internet. The company will also demonstrate the GPS service and theft protection for motorcycle use. To learn more about Automotive Capital Group, Inc. please visit our websites at http://www.autocapitalgroup.com/ and http://www.nowgps.com/. Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties, as well as other uncontrollable or unknown factors, could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements. The guidance above is dependent on closing merger/acquisition of the above listed companies. This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com/. Automotive Capital Group, Inc. CONTACT: Scott Miller, CEO, Automotive Capital Group, +1-800-647-6962 Web site: http://www.autocapitalgroup.com/http://www.nowgps.com/ [ Back To TMCnet.com's Homepage ]