By: Tomas Ronolski - AllPennyStocks.com News

Friday, February 7, 2014

Getting in a strong relationship with a government agency can provide for years of employment and revenue. Tampa, Florida-based heavy construction company Cone & Graham, Inc. knows this very well. The company’s website shows that they have been in business for about 35 years with nearly all of their work performed for the Florida Department of Transportation. C&G’s relationship with the Florida DOT cascades to other companies, such as Cross Environmental Services, Inc., a subsidiary of CES Synergies, Inc. (OTCQB:CESX). Headquartered in Crystal Springs, Florida, CES Synergies provides a range of services, including environmental contracting solutions, demolition and remediation services to commercial and industrial customers as well as federal, state and municipal entities.

Although it’s been in business since 1988, CES only entered the public domain in November, closing a merger with the developmental company Green Living Concepts. To that end, investors will be looking for future filings to gauge the growth of the company. For the time being, though, the company has released a series of new contracts just in the last few weeks to use as a barometer for corporate activity.

A quick overview:

January 24: Cross Environmental Services receives contract and Notice to Proceed for demolition and related services to Press Park for the Housing Authority of New Orleans. The contract is valued at $437,800 and is expected to be completed within four months.

January 28: Cross Environmental Services receives a contract from Canam Steel Corp. and starts demo work on a 140,000 square foot production facility in the Florida Panhandle. Financial terms were not disclosed, but safe to say that this was likely a sizeable contract.

January 31: Cross Environmental Services receives a contract for another job and begins work in the Florida Panhandle. The job entails, amongst other things, abatement of asbestos and demolition of a 41,300 square foot condominium complex. Completion of the job is expected by the end of March. Financial terms again were not disclosed.

February 4: Cross Environmental Services receives a contract for demolition and remediation services at the 4300 Sullen Place Demolition Project of the Road Home Corporation (d/b/a Louisiana Land Trust). The contract has a value of $287,000 with work slated to be done within 90 days.

On Friday, CES said its subsidiary has received yet another contract and Notice to Proceed to provide demolition services as a subcontractor of the aforementioned Cone & Graham. The project at hand is the demolition of a bridge over a CSX Railroad at the intersection of Interstate 75 and State Route 60 in Hillsborough County, Florida. The contract has a value of $233,300 and the work, which is expected to start within two months, is anticipated to take 90 days to complete.

"CES has been a long time partner of the Florida Department of Transportation for right of way clearing, and we're pleased to participate in new infrastructure development projects such as this opportunity in Hillsborough," commented Al Biston, chief executive of CES Synergies, in a statement today.

Shares of CESX have risen from around 50 cents to as high as $2.50 since the bombardment of contract news in the last few weeks. Shares are definitely thinly-traded, however that may be because most of the shares are still held by insiders following the merger; that will take some extra due diligence, which is encouraged, to discern. The stock price is down on Friday by 18 percent at $1.80, with 3,200 shares changing hands.

Copyright © 2014 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.