Mr. Raike, the CEO and President of Woodstock Holdings, Inc. and Mr. Langmesser jointly own all intellectual properties of All Terrain Bikes, Inc., a company formed by Mr. Langmesser and Mr. Raike to design, and develop cargo bikes with solar charged electric back up power and all terrain mountain bikes with electric back up power. These bikes are currently in the development stage with anticipated release in the first half of 2018.
Woodstock Holdings, Inc. also owns a stake in N2A Motors, Inc.
Langmesser and Raike have agreed to transfer ownership of All Terrain Bikes, Inc. to Woodstock Holdings, Inc. No specific terms of the deal have been finalized at this time. An independent valuation of the company will be performed in the future. All Terrain Bikes, Inc. currently owns three patents pertaining to the frames, tires, and gear assemblies of the bikes and owns the US patents pertaining to bikes utilizing wide yokes to accommodate oversized tires "Fat Bikes" that will travel easily over sand, snow, and mud.
The other business that was approved by the Woodstock Board on November 8, 2016 was the separation of the company's Financial Advisory business from the Broker Dealer operations. The new company will also be a wholly owned subsidiary company of Woodstock Holdings, Inc. The new company is named Woodstock Wealth Management, Inc. The target day for the new entity to initially accept assignment of the current advisory assets of Woodstock Financial Group, Inc. is April 1, 2017. The current assets managed by the advisory currently exceeds $200 million.
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About Woodstock Holdings, Inc.
The mission of Woodstock Holdings, Inc. (WH) is to seek out candidates for acquisition that will build value for our shareholders. We currently own 100% of Woodstock Financial Group, Inc. ("WFG"), a FINRA member broker dealer licensed in all 50 states and Puerto Rico. WFG is also licensed in many states as an insurance agency and is an SEC registered financial advisory firm. It was formerly known as Woodstock Financial Group, Inc., and changed its name to Woodstock Holdings, Inc., in January 2010. The company was founded in 1995 and headquartered in Woodstock, Georgia.
Woodstock Holdings does not limit our investments to the financial services industry. In fact, our long term objective is to hold investments in diverse industries.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements express or implied by such forward-looking statements. The forward-looking statements are subject to risks and uncertainties including, without limitation, changes in levels of competition, possible loss of customers, and the company's ability to attract and retain key personnel.
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SOURCE Woodstock Holdings, Inc.