These are the questions I asked Petar Vucicevich.
He emailed me back.
Here are the answers to your questions. I hope they are helpful.
Q: What exactly is Consultech Construction Management Inc?
A: Consultech is a company, which provides their clients with a complete development package from conception to completion.
Q: Can you provide me with a list of your clients past or present?
A: No.
Q: What were Consultech’s revenues for 2005?
A: Our year-end is not filed till June 1’st of every year. Our revenues are down slightly from last year at this time however, new contracts in Mississippi should shore up our final figures.
Q: Why are you merging with Loftwerks?
A: I met Dennis a few years back when we opened our Mid-West operation. He had a vision at the time and still does today. Consultech worked together with Dennis on a number of projects in Detroit, Windsor, and Chicago. Most of these projects were successful and even those I would not consider to be as successful, were acceptable as far as profit and product. When Dennis entered into his new venture (LFWK), he approached our office, along with Kore with a proposal of merger. We are at this time considering merging our Mid-West office with Loftwerks. Negotiations are under way and both parties have made requests and have placed conditions upon one another and Dennis is now trying to meet these conditions. We are confident he will.
Q: Why is it so difficult to find any information on Consultech?
A: I’m not sure. We are not a publicly traded company if that is what you are asking. We do not advertise for business as we have evolved over the years to become a company, which handles a very select few clients and usually will enter into a joint venture with those clients. But I don’t see why you find it difficult to find us. We are very active in the Middle East, Canada, and certain regions of the U.S. as well as projects in Europe.
Q: Can you list a few of your projects?
A: At this present time we are working with a group of investors who are in the process of expanding their hotel operations with an additional six hotels internationally. We are also currently working with a long time client in developing commercial projects in the U.A.E. as well as a recycling plant in Saudi Arabia and in Dubai. Also, we are in discussions with FEMA and various landowners in States that were devastated recently by Hurricane Katrina, to provide new permanent housing for displaced residents of the region. Some of these projects are underway and others are slated to start in early spring 2006.
In saying all this, I feel I must make it clear that Consultech is made up of a number of companies all of which are not part of the proposed merger with Loftwerks. The portion of Consultech, which is proposed to merge, is our Mid-West operations. Although this office enjoys portion of ownership in the other companies, each region is a stand-alone operation for obvious reasons. The Mid-West office is however in control of the Mississippi projects along with a number of other ongoing projects.
Q: Does the share price of Loftwerks alarm you in any way and should the current shareholders have any reason to expect a higher price after the merger.
A: I have no reason for alarm only because I don’t own any shares. Part of the discussions with Loftwerks involves how many shares we would be awarded as part of the merger. At this time, or at least the last time I checked, the shares were extremely undervalued and the value would have to be increase to accommodate the merger. It is clear to me that Peter Wolfe of Kore has a plan to do so which I believe will leave stockholders happy.
As to whether or not the value will increase, I don’t know nor do I believe anyone does. There are far too many factors to consider, the least of which is the actual proposed merger. Those who invest in the markets, as I do, surely must realize there is no “sure thing” and if there are those who to believe there is, I would suggest they try their luck at the casino or learn what it means to be an insider and be very careful.
Q: Did Consultech lend Loftweks $10,000,000.00 to purchase properties.
A: Yes I believe that was finalized yesterday. This is a loan backed by real estate and the note would be revoked once the merger is completed. Until such time or in the event the merger does not go through, this will simply be considered a loan to Loftweks to acquire properties for future development. Moreover, this loan is restricted by certain conditions, which Loftwerks would have to abide by.
Q: Have you had a chance to review Loftwerks financials and is there anything in the financial that concerns you?
A: Besides the fact that Dennis is in serious need of an accountant, there was nothing there to concern my company or me. I tend to look at the outer crust and the numbers make sense. However, if anyone has any concerns with the methods used to prepare or demonstrate these financials, I would simply suggest they sell off their holdings in Loftwerks and find something they are happy with. Prior to our agreeing to lend Loftwerks a substantial sum, we reviewed closely what our exposure was and found we were secure. That was a decision we made and every individual must come to there own conclusions.
Q: Dennis appears to have a great fondness for expensive sweaters. What are your feelings on this matter and do you feel Dennis is diverting Loftwerks funds to feed this insatiable hunger for cashmere? Also, Do you own any sweaters?
A: I’m not sure if I understand the question but I will try to answer. As to whether I own any sweaters, the answer is yes. I don’t care much for sweaters but will wear them on occasion. As for whether I believe Dennis is suffering from some perversion compelling him to purchase sweaters, I really am not sure. I can however say that the time I have spent with him he did not demonstrate any symptoms of fashion sense. I’m really confused about what it is you are asking but I am certain that Dennis has not squandered any of the company funds on garments or sweaters to be more specific. Sorry if this answer is not what you were looking for or if I answered it incorrectly, but I am just a little confused.
