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Energy Services Acquisition Corp.(ESA.U)

 
123Jump Rating: - Avoid   Underwriters: Ferris, Baker Watts
     
Status: Priced  
 
Address: 2450 First Avenue
FiledDate: 04/07/2006
  Huntington,
   
  WV 25703
Filed Price Range ($): $6.00
       
Telephone: 304-528-2791 Filed Offer Amount ($ Million): $69.00
       
Fax: 504-569-1874 Shares Offered (Millions): 10
       
Websites: Shares Outstanding (Millions): 13
       
Management: Marshall Reynolds, CEO
IPO Date: 08/31/2006
     
  Final Offer Price ($): $6.00
       
Industry: Energy Final Offer Size (Millions of Shares): 8.60
       
Employees: 2 Final Offer Amount ($ Million): $51.60
       
Competitors: Active Power
S-1 Forms:
  Houston Exploration
   
  Newfield Exploration
 
       
     
     
     
       
 
- Avoid        - Value Gap        - Short-Term Growth        - Long-Term Growth        - Long-Term Value

Company Links
Executives Products Services
Major Stock Holders   (Prior To Offering)

Name

Class A
Douglas Reynolds 20.00%
Edsel R. Burns 25.00%
Jack M. Reynolds 20.00%
Joseph L. Williams 5.00%
Marshall T. Reynolds 25.00%

Major Stock Holders  (After Offering)

Name

Common Stock Class A Class B Class C Class L ADS
Douglas Reynolds 0% 4.00% 0% 0% 0% 0%
Edsel R. Burns 0% 5.00% 0% 0% 0% 0%
Jack M. Reynolds 0% 4.00% 0% 0% 0% 0%
Joseph L. Williams 0% 1.00% 0% 0% 0% 0%
Marshall T. Reynolds 0% 5.00% 0% 0% 0% 0%

Company Strategy
A blank check company incorporated in Delaware on March 31, 2006, in order to serve as a vehicle for a business combination with an operating business.

Product/Services Portfolio
To date, the Company has not selected any target business for a business combination. The Company is not presently engaged in, and it will not engage in, any substantive commercial business for an indefinite period of time following this offering. The Company intends to utilize cash derived from the proceeds of this offering, its capital stock, debt or a combination of these in effecting a business combination.

A business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital but which desires to establish a public trading market for its shares, while avoiding what it may deem to be adverse consequences of undertaking a public offering itself. These include time delays, significant expense, loss of voting control and compliance with various Federal and state securities laws. In the alternative, the Company may seek to consummate a business combination with a company that may be in its early stages of development or growth.

Investment Analysis
The Company has neither engaged in any operations nor generated any revenues to date.

Income Data (Thousand $ Except EPS)
Year Revenues Costs Oper Income Taxes Net Income EPS
2006 0.00 -2,200 0.00 0.00 -2,200 0.00
*As of period ended June 30, 2006

Balance Sheet Data (Thousand $)

Year

Cash Acct Recv. Inventory Total Cur Assets Total Cur Liability PPE Total Assets LT Debt SH Equity
2006 31,425 0.00 0.00 0.00 0.00 0.00 301,718 0.00 22,800
*As of period ended June 30, 2006

Cash Flow Summary (Thousand $)

Year

Net Cash-Ops Net Cash-Inv Net Cash-Fin Net Change
2006 -143,575 0.00 175,000 31,425
*As of period ended June 30, 2006
 

 


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