[September 02, 2004] Automotive Capital Group, Inc. Executes Merger Agreement With Colfax and Navicom and Begins Booking Sales and Revenue SCOTTSDALE, Ariz., Sept. 2 /PRNewswire-FirstCall/ -- Automotive Capital Group, Inc. today announced the execution of the agreement between Automotive Capital Group, Inc., Colfax Financial and Navicom GPS. Automotive Capital Group, Inc. began booking sales and revenue as of September 1, 2004. This merger allows AOCP to have $0.30 earnings per share (EPS) and over $8 million in revenue over the next 12 months. The company will have about $5,000,000 in assets with 8 million fully diluted shares outstanding. The company owns two automobile dealer lots in Arizona, and Navicom, a growing innovative wireless GPS technology that works in 98% of the US, Canada and Mexico. The company expects to file the form-10 in October 2004 and become fully reporting. Once filed and approved, the next goal is to move from the OTC market to the American Stock Exchange (AMEX.) The company also announced the launch of Navicom's wireless GPS marketing campaign for homeland security agencies, law enforcement, government agencies, auto dealers, fleet managers and trucking companies. Navicom announced last week that it is providing units and monthly service to the Inspector General's Office in Washington, D.C. Navicom foresees the $25 billion sub-prime automobile market becoming the fastest growing segment and will offer companies its asset collateral monitoring devices with lease options. These solutions include automobile tracking, auto disable/enable capability through Internet, geo-fence boundary notification and point/click auto repossession. Other sub-prime auto companies are also buying Navicom to install on vehicles they finance. The Navicom Company's website is http://www.nowgps.com/ and http://www.gpsstation.com/. Free information brochures are available by emailing your name and address to [email protected]. The company also announced it will have a major news announcement that will be released on Friday, September 3, 2004. 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.nowgps.com/http://www.gpsstation.com/ [ Back To TMCnet.com's Homepage ]