Trans Global Group, Inc. Issues Corporate Update
CORAL SPRINGS, Fla., Oct. 16, 2013 /PRNewswire/ -- Trans Global Group, Inc. (PINKSHEETS: TGGI) in the last few weeks has published its missing financial reports and Attorney Letters to become "Current" with OTCMarkets. These steps have been taken so TGGI can move forward with new corporate developments and with its plans to uplist one of the Company's subsidiaries as announced last year.
As of July 2012, TGGI's wholly owned subsidiary VersaGreen Energy Corporation, began selling Solar and energy saving products including ("SunBlast" Attic Shield), a thermal shield which traps heat in the attic rafters and is released through the roof via a solar attic fan, keeping the attic temperature at a cool 78 degrees. This reduces the amount of time that the air conditioning unit operates, therefore causing a reduction in energy usage.
Last year the Company began taking steps to enhance shareholder value when it decreased its Authorized shares from 5 Billion to 3.6 Billion, still the number of Authorized shares. The next phase is to finalize a plan to reduce the amount of long term liabilities the company has amassed over the last five years without causing dilution eroding shareholder value. Since the Company is making strides in restructuring its long term liabilities and believes it will complete a deal in the near future, there will be NO Reverse Split on its Common shares.
Over the next 3 months several corporate events will be taking place for TGGI and its subsidiaries as outlined below:
Reinstatement of TGGI and its subsidiaries
The completion of several websites under construction
New Social Media and SEO marketing programs
Video testimonials of prior and new installations
Consolidation of subsidiaries
New product releases
Audited financials for our Subsidiary to uplist to QB
New attorney for SEC work for our Subsidiary to uplist to QB
Commercial sales division
Finalize restructuring of long term liabilities
The Company plans on issuing a new press release every 7 to 10 days updating shareholders as events happen.
Chris Clarke CEO of Trans Global Group stated "From reviewing TGGI's history for the past 5 years, the Company has tried to move into the energy sector and has always come up short. Since my tenure, we have created a strategic partnership with a successful 15 year old company that holds a FL Solar and General Contractor license. After many months of research and planning, we created a master sales program and went to market to test TGGI's new sales strategies. We made numerous sales and our test has proven to be successful. Now that the Company has figured out how to make money in the Energy Sector (Energy Saving business), we are working to expand on our proven sales program to increase revenues. We feel it is very important to restore shareholder faith and value as we expand our operations and we look forward to completing tasks on time."
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For additional information about this release please contact
Christopher J Clarke
SOURCE Trans Global Group, Inc.