MedCAREERS Group Inc (OTCMKTS:MCGI) has been running up the charts in recent weeks as Investors scoop up shares in preparation for the previously announced merger with LiftKits4Less, a Company in the auto industry already making millions in revenues.
MCGI has quickly attracted a fast growing shareholder base which has transformed this one into a volume leader in recent days. MCGI does have a history of explosive moves.
MedCAREERS Group Inc (OTCMKTS:MCGI) focus is to develop and build value through its wholly-owned subsidiary Nurses Lounge, Inc., The Company is run by Timothy Armes who was founder of jobs.com which sold to Monster.com in 2002 for $800,000. Later, with Arms still at the helm the Company received another $62 million in advertising, promotion and “other consideration” over a five-year period from Media giant CBS Corp. Mr. Arms said at the time the deal “will allow us to reach deep into local markets with traditional advertising opportunities.” Microcapdaily has reported on this one in the past.
MedCAREERS Group flagship is nurseslounge.com an online professional network and communication platform for nurses and stakeholder organizations such as nursing schools, associations and employers. It’s basically like the Monster.com of RN and it seems to be catching on quickly with the familiar nurseslounge.com logo showing up on the websites of hundreds of top universities across the country. The portal consolidates the profession onto one simple to use network, Nurses Lounge provides the tools and resources that allows organizations a more effective way to communicate directly to their nursing audience and as well as the broader nursing profession. It provides nurse employers, schools and associations with the ability to create groups and successfully communicate news, announcements, and events seamlessly to their members.
The big story on MCGI is the LOI they announced at the end of June to acquire 100% of the 4 Less Corp., owner of several branded ecommerce web sites including their flag ship web site Liftkits4less.com. Per the binding LOI, and subject to satisfactory due diligence, MCGI will enter into a definitive agreement with 4Less within the next one hundred and twenty days to finalize the acquisition.
4Less operates in the $43 billion specialty aftermarket auto parts industry and has quickly grown into one of the largest on-line sellers of Jeep, Truck and SUV suspension systems and related accessories targeting direct to consumer and installation shops here in the US and ships worldwide. 4Less established liftkits4less.com approximately 3 years ago. In 2015, their first year of operations, Liftkits had revenues of $2.4M which they grew by 280% to $6.8M in 2017 and was close to break even. For 2018 they are on track to surpass revenues of 9 million dollars.
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“In a very short time Christopher and his team have done an outstanding job building Liftkits into a leading ecommerce website for off road enthusiast while creating a platform that can be replicated profitably in numerous segments across the specialty auto equipment industry.” said Tim Armes, President and CEO of MedCareers Group, Inc.. “We think 4Less has strong growth opportunity and believe Chris and his team has the potential to grow the company in a significant way based on his current achievements.”
Additionally, with their proven business model, experienced management team, and relationships with thousands of manufacturers, 4Less is in the early stages of launching other related auto equipment ecommerce websites including Bumpers4Less.com, Shocks4Less.com and Truckbedcovers.com to name a few
On October 10 CEO Timothy Armes replied to an email concerning the acquisition, he stated “Thank you for your inquiry. Yes, things are moving along as planned and both parties are eager to close this. Appropriate fillings will be made as this completes and at that time we can provide more updates to both this and other business. Thank you for your patience and interest.
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Currently trading at a $1.2 million market valuation MGCI has little assets or revenues and $2.4 million in debt. MCGI is an exciting story developing in small caps; Investors are awaiting the closing of the previously announced LOI to acquire liftkits4less.com which has seen its revenues skyrocket from $2.4 million in 2016 to to $6.8M in 2017. For 2018 they are on track to surpass revenues of 9 million dollars according to the press release. We will be updating on MCGI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MCGI.
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Disclosure: we hold no position in MCGI either long or short and we have not been compensated for this article.