SUNRISE, Fla.--(BUSINESS WIRE)--BlackPoll Fleet International, Inc. (OTC: BPOL) (the “Company”) today announced its subsidiary Jet Aviation Corp. (“Jet”) executed an exclusive consignment agreement with Jet Aviation Components and Aircraft International, Inc. (“JACAI”).
JACAI granted Jet the exclusive consignment right to sell its inventory of aviation parts & equipment. Jet shall pay JACAI fifty percent (50%) of the proceeds of sales after expenses (not to exceed $17,000 per month) are paid from the sale of the inventory.
“An Exclusive Consignment Agreement with a 32-year-old successful, experienced and well-respected re-seller and distributor of aviation parts with $14,000,000 of inventory is a tremendous opportunity for our Company with very little downside. We fully expect to generate substantial revenues and positive cash flow marketing JACAI’s Inventory,” commented BPOL President Dan Oran.
About BlackPoll Fleet International, Inc. (“BPOL”)
Headquartered in Sunrise, Florida, BlackPoll Fleet (www.blackpollfleet.com) is a Holding Company leveraging the strength and industry influence and experience of its management team to rapidly become a trusted provider of aviation parts, equipment and services to a growing global customer base of U.S. and foreign government agencies as well as multinational corporate enterprises.
About Jet Aviation Components and Aircraft International, Inc. (“JACAI”)
Headquartered in Miami, Florida, JACAI, commenced operations in 1985 providing aircraft parts for Boeing, McDonnell Douglas, Airbus, and Lockheed model Jet Aircraft’s and engines for Pratt & Whitney, General Electric, GE/SN ECMA, and Rolls-Royce to End Users. JACAI re-sells and distributes parts worldwide. JACAI estimates its inventory is currently worth $14,000,000 retail. JACAI averaged annual sales of approximately $420,000 over the past 3 years.
Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of BlackPoll Fleet International, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.