Sibling Group Holdings, Inc. to Expand Board, File for Higher Exchange Listing
ATLANTA, Sept. 17, 2012 /PRNewswire/ -- Sibling Group Holdings, Inc. (OTCQB:SIBED), a developer of 21st century teaching and learning solutions for the education market, through its wholly-owned subsidiary Education Innovation, Inc, announced that it is in the process of expanding its Board of Directors, and that it anticipates filing to list their common shares on a higher exchange within the next 12 months, if and when all proper benchmarks are achieved.
The Company recently conducted a restructuring of its common shares for the purpose of preparing the company to file an application to list on a higher exchange. As of August 21, 2012, the Company currently had 15.7 million shares issued and outstanding, and in the float. There is currently no convertible debt or preferred shares outstanding.
Currently there are 20 holders of approximately 87% of the shares of the Company, including insiders. The Foundation for Innovation in Education, Inc., a non-profit corporation that holds over 30% of the outstanding shares, has informed the Company that it has a very long term view of its holdings, and will seek to invest in other educational technology and management operations as well.
Experienced Board of Directors
In addition to restructuring, the Company is also in the process of expanding its Board of Directors with experienced and knowledge members in both education, technology, and public company compliance. Michael Hanlon has both public company and technology experience in both US and International operations. Amy Savage-Austin, has over 10 years experience in the area of finance with large, publicly traded corporations, and has both classroom and online teaching experience, and holds a Ph.D. in Business. Rob Copenhaver is a seasoned software executive, who has lead a number of acquisition and start-up oriented entities, with both private and public.
Gerald F. Sullivan, the Chairman and CEO of Sibling Group Holdings, Inc. said, "Along with building an experienced team in the education technology industry, we are also moving forward with our plan to position the company as a strong player within this market, and build value by listing on a higher, and more liquid exchange. We have moved forward with this process in restructuring the company shares to achieve this goal, of which we have no intention of changing now, or anytime in the immediate future."
About Sibling Group Holdings, Inc.
Sibling Group Holdings, Inc. (OTCQB:SIBED) utilizes advanced technology and education management to enhance and accelerate the delivery of 21st century learning using multiple teaching and learning modalities on a global basis. The mission will be accomplished by accessing funds from the public capital markets and melding them into a unified strategy that will help to accelerate the improvement of K-12 education across the globe. The desired result will be better educated children, a sustainable and cost effective teaching model, primarily for K-12 education, and reduced dependence on governmental funding. For a complete overview please visit the Company web site at: www.newco4education.com
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Safe Harbor: This press release may contain forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Sibling Entertainment Group Holdings, Inc. is subject to risks detailed from time to time in its publicly filed documents available at www.sec.gov. Sibling Entertainment Group Holdings, Inc. does not undertake to update any forward-looking statements that it may make to conform to actual results. All current and potential shareholders are asked to read all filings for the Company at the Securities and Exchange Commission web site, www.SEC.gov.
Melissa J. Diaz
South Street Media, Inc
Phone: (917) 937-8968
SOURCE Sibling Group Holdings, Inc.