DALLAS, Nov. 28, 2014 /PRNewswire/ -- CVSL Inc. [OTCQX: CVSL] said today that, with its uplisting to a national securities exchange expected within several trading days, the Company intends to immediately re-focus on its acquisition strategy within the direct-to-consumer channel.
"Virtually all year we have been working on the process of uplisting to a national securities stock exchange. By our calculation, we will qualify for uplisting to a major U.S. exchange late in this coming week. We are gratified that our uplisting appears imminent," said John Rochon Jr., Vice Chairman and head of CVSL's investment committee.
"We have a robust deal funnel and we intend to get back to acquiring companies that we believe will increase our stock value. I am proud of our success in acquiring and strengthening our first eight companies and meeting uplisting requirements. Our decision to focus on moving to a major exchange in 2014 has been well worth the effort and will be possible without the immediate dilution to shareholders that would have occurred if we had consummated an S-1 offering," said Mr. Rochon.
"As we approach 2015, it's time to get back to the work of M&A. We believe it is good for shareholders for us to immediately resume making acquisitions, which we had put on hold during the past several months. We intend to fund the next several acquisitions primarily using debt as a source of capital, preserving our cash and taking all the actions we can to protect our shareholders from significant dilution."
About CVSL (www.cvsl.us.com)
CVSL is a growing group of micro-enterprise companies that connect social media networks into an ever-expanding virtual "community" of social commerce. CVSL companies currently include The Longaberger Company, a 42-year old maker of hand-crafted baskets and other home décor items; Your Inspiration At Home, an award-winning maker of hand-crafted spices and other gourmet food items from around the world; Project Home, a direct seller of Tomboy Tools, a line of tools designed for women as well as home security systems; Agel Enterprises, a global seller of nutritional products in gel form as well as a skin care line sold under the Ageless brand, operating in 40 countries; Paperly, which offers a line of custom stationery and other personalized products; My Secret Kitchen, a U.K.-based seller of gourmet food products; and Uppercase Living, which offers an extensive line of customizable vinyl expressions for display on walls in the home. In addition, CVSL and Golden Girls, a purchaser of gold and tradable jewelry, have signed a definitive purchase agreement, which is subject to customary closing conditions.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical fact contained in this press release are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the negative of these terms or other comparable terminology. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Such statements include statements regarding our continued growth, the expected uplisting to a national securities exchange, the intended acquisition and acquisition funding strategy and the benefits of the various steps taken. These statements are only expectations and involve known and unknown risks, uncertainties, and other factors including the risk that our expected uplisting, acquisitions or acquisition funding will not occur in the time periods expected and the risks outlined under "Risk Factors" in our Annual Report on Form 10-K for our fiscal year ended December 31, 2013, our Quarterly Reports on Form 10-Q, including the Quarterly Report filed with the Securities and Exchange Commission for the quarter ended September 30, 2014, and those risks discussed in other documents we file with the Securities and Exchange Commission, which may cause our actual results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements to differ materially from expectations. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations.
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SOURCE CVSL Inc.