This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CNSV Will Be Divided Into Two Companies, With CNSV Becoming Primarily An Oil And Gas Company With Residual Coal Royalties

HENDERSON, Nev., Jan. 4 /PRNewswire-FirstCall/ -- Consolidation Services, Inc. ("CNSV"), (OTC Bulletin Board: CNSV), announced today that effective January 1, 2010, the Company's assets and liabilities are being divided into two different legal entities, CNSV and a corporation ("Newco") owned by CNSV, as the first step in spinning out Newco to each shareholder of record in CNSV. Each CNSV shareholder (15,258,220 shares outstanding) on January 1, 2010 (the "Record Date") is expected to receive, at some later date, one share of Newco for each share of CNSV owned on the Record Date. Although the separation of assets and liabilities is considered effective as of January 1, 2010; completion of the spin out transaction to the Shareholders of Record is subject to, and conditioned on, management of CNSV working through a number of complex regulatory, accounting, tax and legal issues with the assistance of appropriate professionals.  

As of January 1, 2010, CNSV is primarily an oil and gas company with a residual coal royalty receivable on coal assets that were owned by CNSV as of the Record Date. Newco will be primarily a coal company with a residual oil and gas royalty receivable on all oil and gas assets that were owned by CNSV as of the Record Date.      

Dr. Thomas, CEO anticipates that the division of assets will benefit all CNSV shareholders, past and future, as management anticipates that accumulation of additional oil and gas potential reserves and future development of these potential reserves will be easier under the new structure. CNSV and Newco will be able to make different and independent financing and staffing decisions which maximize the development of their respective assets.  

About Consolidation Services, Inc.

CNSV is engaged in the acquisition and development of oil and gas mineral rights in eastern Kentucky. The Company owns oil and gas rights on approximately 12,000 acres in eastern Kentucky. Reserve reports prepared by independent engineers show an estimated 34.7 billion cubic feet of potential reserves on approximately 10,000 acres. CNSV's other oil and gas rights are in close proximity.  

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,039.49 +60.36 0.36%
S&P 500 1,992.37 +5.86 0.30%
NASDAQ 4,532.1040 +5.6220 0.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs