Archives at Zinester: RSFF Acquires Five Offices, Now Operates From Twenty Locations. SmallCapStocks. News

SmallCapReview News

May 16, 2005

Resolve Staffing...(RSFF)

'A new public company has hit town, via a spin-off from ELS Human Resource Solutions, and through acquisitions, Resolve Staffing now operates from twenty locations.'

Resolve Staffing, Inc. Acquires 5 New York Offices...(RSFF) Resolve Staffing has acquired five offices from Solaris Staffing, Inc. The five locations are in the upstate New York Market.

This gives Resolve a total of 8 temporary staffing offices in New York. We now reach from the New York City to upstate New York. In addition, Solaris will help to further diversify our service offering." Mr. Heineman further stated, "We are excited about the acquisition and look forward to continuing our strategic growth plans as we stride to become a national provider of outsourced human resource services. We will continue to seek strategic acquisition opportunities throughout the U.S."

RSFF Investment Highlights

RSFF is currently operating from 20 locations in five states.
Sales increased 51 percent last year, to $1.7 million. This was prior to the acquisition of 19 offices and was from a single location in Tampa, Florida.
With the recent acquisitions bringing the total locations to 20 offices, RSFF expects to see annualized revenues in the $15 - $20 million range.
ELS, a very successful staffing company owns about 80 percent of RSFF's stock. The remainder is in the hands of public shareholders.
Recently announced the acquisition of five new locations in New York.
Recently announced a new temporary staffing location in North Carolina. In the high growth corridor between Charlotte and Greensboro.
Announced it has acquired Support Staff Employment Services, a full-service staffing firm located in Sebring, FL.
Announced the acquisition of multiple temporary staffing locations from ELS, Inc.
RSFF aims to become a national provider of outsourced human resource services. The Company has stated that its strategic plan is to grow aggressively and it intends to accomplish this expansion both through acquisitions and through internal, organic growth.
Since its inception in 1989, ELS ( www.elshr.com ), a privately held, major shareholder of Resolve, has grown to between $150 million and $175 million in annual sales.
The staffing industry has been on a tear. Nationally, its sales grew 12.5 percent last year to $63.3 billion, according to the American Staffing Association. Temporary staffing employment rose by 12.4 percent, the second straight year of double-digit increases.

Approximate Shares Outstanding: 14.6M

Market Cap: $16.1M

Recent Price: $1.10

For the Full Profile on RSFF please visit http://www.smallcapreview.com/rsff.htm

Overview

Resolve Staffing, Inc. (RSFF) is a turnkey provider of various outsourced staffing services. RSFF recently purchased 10 staffing locations through an acquisition of the temporary staffing division of ELS, Inc. ELS is a larger Professional Employer Organization (PEO) ( www.elshr.com ) owned by Ronald Heineman, Resolve??冱 Chief Executive Officer. This acquisition transformed Resolve from a single-location organization to an 11-location firm with offices throughout the east coast and mid west. The Company has since added more locations to bring the total to 20 offices. The acquisition of these new locations is anticipated to significantly expand the geographic scope of Resolve??冱 operations. Furthermore, it is the Company??冱 intention to grow its business through the acquisition of private companies in the staffing industry that would provide types of staffing and/or related services with which they are familiar.

Resolve Staffing provides mostly temporary office, clerical and light industrial workers. It has 20 offices in Ohio, Florida, North Carolina, Pennsylvania and New York and serves about 150 clients. The temporary staffing market is a high growth industry with room for consolidation. As the economy grows, most companies will start to hire more temporary staffing.

RSFF experienced a 51% increase in Sales in 2004. With recent acquisitions, Resolve??冱 revenues are projected to increase to an annualized rate of between $15 and $20 million, according to the Company??冱 CEO, Ron Heineman.

While the Company has strengthened its position with recent acquisitions, Resolve??冱 strategic alliance with ELS gives RSFF the resources to continue with its strategy of acquiring other staffing companies. Since its inception in 1989, ELS, a privately held, major shareholder of Resolve, has grown to between $150 million and $175 million in annual sales. ELS essentially serves as a human resources department for client companies. Its services include payroll, benefits, workers' compensation and unemployment, among others. Being aligned with ELS gives Resolve some distinct advantages in what is a competitive, fast-growing industry. Resolve is not a low-cost provider, like a Manpower or Kelly. Resolve tends beat the competition on service levels. That includes its employee screening process, providing benefits to employees and keeping turnover low.

Shares of Resolve Staffing began trading in late March on the Over the Counter Bulletin Board under the ticker RSFF.

Recent News and Press Releases

Resolve Staffing, Inc. Acquires 5 New York Offices

Resolve Staffing, Inc. Opens North Carolina Temporary Staffing Location

Resolve Staffing, Inc. Acquires New Location

Cincinnati Business Courier Article on Resolve Staffing

Resolve Staffing Inc. Files SEC form 10KSB, Annual Report

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