SILVERADO FINANCIAL (SLVO OTC:PK) announced today that a letter of intent has been signed to purchase Water Skeeter Sports Innovations, Inc. The company says they plan to complete this acquisition within ten days.
Water Skeeter Sports Innovations, Inc. is an industry leader in pontoon craft and float tubes with intentions of expanding their current line of products with the introduction of several new technologies that have been engineered for use as it relates to their products.
Water Skeeter Sports had sales in excess of $800,000 during the first three quarters of last year and the company said they expect to increase sales substantially during 2008.
In other news, Silverado Financial said they are continuing to work towards implementing their plan to place hot-coffee dispensers in test markets in Southern California with negotiations to finance the purchase of their first series of machines are ongoing.