U-Save currently services 31 airport markets in 12 different states and 7 countries. U-Save Car Sale

Revenue and the net loss for the 2012 fiscal year were $10,606,197 phoenix arizona condominium vacation rentals and $2,089,966 respectively, as compared to revenue of $11,004,652 and a net loss of $306,152 for the year that ended Sept. 30, 2011. Net loss includes non-recurring expenses related to the proposed acquisition of the Advantage Rent-A-Car brand of $2,050,490 for the 2012 fiscal year and $214,768 for 2011 fiscal year.
FSNA s previously announced acquisition of the Advantage brand will proceed by way of merger between phoenix arizona condominium vacation rentals a wholly-owned subsidiary of FSNA and Adreca Holdings Corp., a subsidiary of Macquarie Capital. The merger is expected to close in the first calendar quarter of 2013.
Tom McDonnell, FSNA s chairman and CEO, stated, During our fiscal fourth quarter, we completed a substantial phoenix arizona condominium vacation rentals amount of the work and negotiations related to the Advantage transaction, resulting in Adreca acquiring the assets of Advantage on Dec. 12, 2012. We also began operating Advantage phoenix arizona condominium vacation rentals pursuant to the MSA on behalf of Adreca."
During fiscal year 2012, FSNA incurred over US$2,000,000 of transaction fees directly related to the acquisition of Advantage by Adreca. We are now focused on completing the merger with Adreca as quickly as possible and look forward to integrating the Advantage operations. In the interim, FSNA will earn fees under the MSA with Adreca."
Completion of the merger is subject to a number of conditions, including TSX Venture Exchange acceptance phoenix arizona condominium vacation rentals and approval by the company s shareholders. FSNA cautions that the merger cannot close until all required approvals are obtained. There can be no assurance that the transaction will be completed as proposed, or at all.
FSNA is a publicly traded company listed on the TSX Venture Exchange. The company and its subsidiaries own the following brands: U-Save Car Truck Rental, U-Save Car Sales, Rent-A-Wreck of Canada, Practicar, Auto Rental Resource Center ( ARRC ), Xpress Rent A Car and Peakstone Financial Services.
U-Save, together with its subsidiary ARRC, has more than 1,100 locations throughout the United States and is one of North America s largest franchise car rental companies. Having primarily serviced the local market for the past 30 years, the company is expanding into the airport market with plans for the opening of airport locations in the top 30 markets in the United States and the major airports in Canada.
U-Save currently services 31 airport markets phoenix arizona condominium vacation rentals in 12 different states and 7 countries. U-Save Car Sales is an expansion of the U-Save brand into the car sales market, and provides goods and services to car sales operators looking to affiliate with a national brand.
Practicar Systems Inc. (a wholly owned subsidiary phoenix arizona condominium vacation rentals of FSNA) owns the rights to the Rent-A-Wreck and the PractiCar phoenix arizona condominium vacation rentals trademarks for all of Canada. The Rent-A-Wreck system operates a network of 57 franchises from coast-to-coast in Canada, providing vehicle rental, phoenix arizona condominium vacation rentals leasing and sales options to its customers. phoenix arizona condominium vacation rentals The Rent-A-Wreck system has been in continuous operation in Canada since 1976.