SULLIVAN, Ind., Dec. 21, 2012 /PRNewswire/ -- VHGI Holdings, Inc. (OTC VHGI.PK) announced today that it has released a letter from CEO Rick Risinger for the purpose of updating its shareholders of the progress and current status of operations within the company.
I would like to begin by thanking you for your patience and support during this chapter of the company's history. While many challenges remain I am confident that we are close to turning this company around and providing shareholder value back to our stock. I have devoted every working hour to the mission of providing this company with the tools needed for its success. During my short time as your CEO many obstacles have been met head on and overcome.
I would like to lay out two areas that we are making great strides in and continue to work on. One of our first priorities was to bring the company filings back to current status. CFO Mike Fasci has done a tremendous job in working with our accountants, auditors and SEC attorneys to get all the financial information current. We believe we have provided a transparent snapshot of this company's financial condition for future shareholders to make an informed decision before investing in our common stock.
Second area of importance for us is the proper capitalization of VHGI and its subsidiaries. We have met with several funders and have allowed them to complete their due diligence phases of the company. At present, the highest funding priority is the capital raise for the Landree Mine. With this in place, the Landree mine will provide a steady stream of revenues for the company, bringing shareholder value back to the stock. Much progress has been made over the last three months to make this a possibility and the miners at the Landree are to be commended for a job well done under less than desirable conditions.
The only obstacle keeping this company from flourishing is the proper capital behind it to complete the mission. We are hopeful that we will soon find a funding partner to take the Landree Mine to the next step, allowing us to achieve full production. We have the right personnel and the in ground assets, we only need the capital to get the job done.
I am confident that we are on the right path to bringing this company to the level it deserves. Our management team at the mine as well as our corporate personnel has done an outstanding job moving this company forward. It is a pleasure to see the company gain traction and accomplish each milestone, moving us one step closer to our goals.
I wish you and your families a happy and prosperous new year.
CEO P. Rick Risinger
About VHGI Holdings, Inc.
VHGI Holdings, Inc. (OTCQB: VHGI) is a diversified company with assets and interests focusing on opportunities within Precious Metal Mining. VHGI Holdings is actively pursuing new opportunities within these industries to maximize shareholder return.
"Safe Harbor" Statement: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
SOURCE VHGI Holdings, Inc.