CHICAGO, April 26, 2011 /PRNewswire/ -- Q Lotus Holdings, Inc. (OTCBB:QLTS) today issued an update to the investment community about recent corporate developments.
The new Board of Directors includes Robert H. Daskal who served as CFO and Vice President-Finance with National Holdings Corporation, a publicly held financial holdings company, as the Executive VP, CFO, and a Member of the Board of Directors for two publicly held companies with a focus on home building; Daniel Kurzweil, an independent Employee Benefits Advisor, the Administrator for Eagles of Hope, the General Manager and Partner for M&S Inc. (Field of Dreams) and a Financial Advisor with Morgan Stanley; Brian Ulione, a Principal with Business Transition Specialists, President for Consultants Unlimited providing consultation services to the real estate, hospitality, sports industries, worked with the Rouse Company on several mixed-use developments throughout the country; Robert H. Brennan, a senior investment advisor with CB Richard Ellis Group has over 23 years experience in commercial real estate specializing in the placement of sale leaseback equity investment offerings as well as single-tenant net leased properties throughout North America; and CEO Gary Rosenberg currently President and CEO of Urban R2 Development Company, was a securities attorney for the SEC in Washington DC and in private practice in Chicago, has extensive senior executive experience managing, directing, financing and forming publicly-held and private companies.
Q Lotus Holdings is preparing to capitalize on the strengths of its highly talented Board of Directors. The Company will begin financing and acquiring opportunistic operations in Finance, Venture Capital, Real Estate, and Natural Resources.
"Now that we have the insurance wrap in place, along with a vastly qualified Board of Directors, we can begin financing growing businesses in our four areas of focus," stated Marckensie Theresias, President and Chairman of the Company.
The insurance wrap, which was mentioned in a press release earlier this morning, provides up to $2 billion dollars of corporate debt coverage and can be utilized as collateral for Company loans.
Marckensie Theresias, President and Chairman of Q Lotus Holdings stated, "The Board has authorized us to increase corporate debt in order to raise capital and execute our business plan. The public and Q Lotus shareholders should watch for press releases with news about exciting new developments."
About The Company
Q Lotus Holdings, Inc., a diversified holdings company, is a Chicago-based minority owned business. The Company has a clear vision how to leverage its intellectual capabilities, assets and opportunities while, at the same time, seizing an abundance of prospects provided by the current economic conditions. Acquisitions will be based on future growth potential and leadership. Q Lotus expects to nurture these businesses infusing cash and managerial leadership as needed on a venture capital and/or incubator basis. The Company continues to focus on shareholder value as the cornerstone in its day-to-day operations, and it will continue to provide frequent public updates. www.qlotuspe.com
Q Lotus Holdings is a member of EquityGroups, the Investors Social Network.
Safe Harbor Statements
This release contains forward-looking statements within the meaning of the federal securities laws. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Information on significant potential risks and uncertainties that may also cause differences includes, but is not limited to, those mentioned by Q Lotus from time to time in its filings with the SEC. The words "may," "will," "believe," "estimate," "expect," "plan," "intend," "project," "anticipate," "could," "would," "should," "seek," "continue," "pursue" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Q Lotus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may be disclosed from time to time in our SEC filings or otherwise, including factors discussed in our periodic reports made with the SEC, and, therefore, readers should not place undue reliance on these forward-looking statements. Actual results, including, without limitations, the results of Q Lotus' strategic initiatives, may differ significantly than those anticipated in forward looking statements. Q Lotus undertakes no duty to update these forward-looking statements, except as required by law.
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SOURCE Q Lotus Holdings, Inc.