HOLLYWOOD, Fla., May 10, 2016 /PRNewswire/ -- Sunshine Capital, Inc. (Pink Sheets: SCNP) today announced that its parent Company DIB Funding, Inc. has been acquired by the Daniel Joseph Duffy Descendants' Trust.
The Daniel Joseph Duffy Descendants' Trust was established for the benefit of Daniel J. Duffy's two children, ages 6 and 11. The trust has been formed by an attorney and two licensed Certified Public Accountants, who will also act as trustees.
Investment decisions shall be made by Daniel J. Duffy, who has sole authority to act as Investment Trustee due to the children's age. Mr. Duffy plans to advance the interest of his children by using his skills and experience in investing in and operating public companies; financing; raising capital; streamlining corporate capital structures; and, mergers and acquisitions. Mr. Duffy is well known throughout the micro-cap industry as one of the best micro-cap stock traders and as a prior President and CEO of multiple public companies.
"This trust was established for the benefit of my two children and I am sure that the shareholders of Sunshine Capital, Inc. will benefit as well," stated Daniel J. Duffy, newly appointed Investment Trustee of his children's trust. "With my guidance this Company is going to dramatically change, and the company will soon announce the hiring of a much more qualified President and CEO who has a history in the public markets. I have also advised prospective management regarding both a new corporate and capital structure of the Company, which I believe may lead to a multi-million dollar increase in net assets with no dilution to the share structure of this Company and will announce the outcome of the special board meeting that addressed my recommendations to the Sunshine Capital, Inc. management."
As of today, DIB Funding, Inc. has over $100 million in net assets, including sole ownership of Widjits, Inc., a diversified media company. DIB Funding, Inc. management's main goal is to build Sunshine Capital, Inc. to become a profitable company with millions in revenue and multi-millions in net assets with no debt. This should naturally raise the market price of Sunshine Capital, Inc. to new highs and benefit Sunshine's shareholders, including Daniel J. Duffy's two children.
The Daniel Joseph Duffy Descendants' Trust is currently being controlled by two Certified Public Accountants, a licensed attorney, an Investment Trustee, and a private investigator to oversee the trust's success. Sunshine Capital, Inc. is in the process of acquiring large equity positions in many public companies for its portfolio and is also in negotiations with a profitable private company with millions in assets to be acquired by Sunshine Capital, Inc. The proposed transaction would have little or no dilution to the company's share structure, nor would it assume a significant quantity of debt.
The company's goal continues to be "up-listed" to the American Stock Exchange.
Sunshine Capital, Inc.
7777 Davie Road Extension Suite 302B
Hollywood, FL 33024
The private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements; based on knowledge of the environment in which it operates. Because of the factors previously listed, as well as factors beyond control of company, actual results may differ materially from expectations expressed in forward-looking statements.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/daniel-joseph-duffy-descendants-trust-acquires-controlling-interest-in-sunshine-capital-inc-300266069.html
SOURCE Sunshine Capital, Inc.