Enviro-Serv buying Tampa Pestmaster franchise

TAMPA — Enviro-Serv Inc. (symbol: EVSV; recent price: $0.0003) has signed a letter of intent to buy Pestmaster Services' first Tampa franchise location.

Pestmaster Services is one of a handful of national pest operations approved to bid on General Services Administration (GSA) governmental pest contracts, and it currently has a five-year, $307,000 Tampa contract with the U.S. Department of Veterans Affairs.

In a release directed at shareholders, Chris Trina, Enviro-Serv's chairman and CEO, says that the company also is in discussions with Pestmaster to potentially bring the Enviro-Serv's X-Terminates operations under the Pestmaster umbrella, which would allow the firm to pursue other government contracts.

At the same time, the company announced it received Securities and Exchange Commission approval for a new (REG-A) stock offering. The firm says it plans to raise slightly more than $500,000 to avoid diluting existing shareholders' interest in the company in the next 45 to 60 days.

Trina says the company will use that money to expand X-Terminate and acquire the assets of an undisclosed East Coast air-conditioning company and a West Coast pest-control business.

“After Enviro-Serv acquires these three companies our financials will prove these acquisitions to be anti-dilutive and for our stock to carry much higher multiples,” Trina says in a press release.