LAS VEGAS, April 25, 2012 /PRNewswire/ -- Beneficial Holdings Inc. (PINKSHEETS: BFHJ) is pleased to announce that it has commenced negotiations to finalize a binding Memorandum of Understanding ("MOU") to acquire a significant interest in a domestic US operating company involved in gaming and casino interests. Also, it is in the midst of final negotiation to engage an advisor for its activity in the casino and gaming activities. The intention is to have such operation as part of a domestic gaming division alongside the future energy division for which an MOU is currently in the midst of being finalized as well and advisor engaged. In addition, there are intentions to form two other divisions with which there will be a level of synergy that will bode well for the future.
Gregory N. Senkevitch, President and CEO states, "We believe it important to have a well-balanced company comprised of domestic operations that will be somewhat unaffected by the cycles of the economy. Our vision includes energy, gaming, beverage and value added real estate. Each division, in its own right, shall have the fundamentals that would make it both profitable and stable with a path to future growth in earnings and appreciated value. All should be in a position to commence generation of returns to investors without the risk of having to wait very long for licensing or production. We are in the midst of assessing our opportunities for each segment of our prospective business plan."
The Company's prior management had filed financial statements for the year ended December 31, 2011 and a request was made for further clarification by current management. We appreciate their having responded by filing an amendment and we will review such information to determine if it is consistent with what might be expected of a company interested in full compliance, in the future, with United States generally accepted accounting principles and regulatory reporting requirements.
"Beneficial Holdings Inc. is currently known as a casino investment holdings company, specializing in acquiring undervalued gaming assets. Prior to coming on board, expectations were that the company would grow through acquisitions, strategic alliances and entrepreneurial investments. The intention is to deliver exactly that," according to Senkevitch.
The Management of BFHJ
Beneficial Holdings Inc.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. As a general matter, forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be identified by the use of forward-looking terminology such as "may", "will", "expects", "plans", "estimates", "anticipates", "projects", "intends", "believes", "outlook" and similar expressions.
The forward-looking statements contained in this press release are based upon our historical performance, current plans, estimates, expectations and other factors we believe are appropriate under the circumstances. The inclusion of this forward-looking information is inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: Our business and investment strategy; our projected operating results; estimates relating to our ability to make distributions to our stockholders in the future and economic trends and economic recoveries.
All information in this release is as of April 25, 2012. The Company does not undertake a duty to update forward-looking statements, including its projected operating results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company may, in its discretion, provide information in future public announcements regarding its outlook that may be of interest to the investment community.
SOURCE Beneficial Holdings Inc.