HOLLYWOOD, Fla., July 6, 2016 /PRNewswire/ -- Sunshine Capital Inc. (Pinksheets: SCNP) announces it has acquired Small Cap Development, Inc. to help with the execution of the Company's plan to acquire positions in multiple public companies.
"This acquisition is a necessary first step to Sunshine Capital Inc.'s development and for what is about to happen," stated Daniel J. Duffy, speaking on behalf of the Board of Advisors. "Mr. Scheltema has joined this Company as President and CEO of Sunshine Capital Inc. not merely because of his management skills, but because of his expertise in mergers and acquisitions of micro-cap companies. Mr. Scheltema is both a licensed attorney and certified public accountant and is the founder of Small Cap Development, Inc. which makes him and Small Cap the perfect fit for developing a portfolio of companies under the Sunshine Capital umbrella."
Small Cap Development, Inc. offers companies assistance with the process of becoming a fully-reporting public company and compliance with OTC and SEC compliance requirements. Its time-tested and proven method is sensitive to the costs and time limits companies are concerned with when considering going public. The Company focuses on assisting public companies to remain in good standing with the SEC, FINRA and other regulatory authorities.
"I believe what Sunshine Capital Inc. is about to achieve is going to be remarkable," stated James R. J. Scheltema, President and CEO of Sunshine Capital Inc. "I allowed my company to be acquired because combining the companies can benefit both companies more than having them remain free-standing."
Mr. Scheltema will receive shares of DIB Funding Inc. which is a private company in exchange for his ownership of Small Cap Development. This transaction is accretive and does not burden Sunshine Capital Inc. shareholders with any debt. Nor does it result in any dilution to current shareholders because it does not require any share issuances.
Phase One of the acquisition by Sunshine Capital Inc. is effective as of June 30, 2016. Phase Two is the acquisition of various holdings in the Small Cap Development, Inc. portfolio, which is currently being negotiated. The companies anticipate closing these negotiations soon.
Sunshine Capital, Inc.
7777 Davie Road Extension
Hollywood, FL 33024
The private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond control of the company, actual results may differ materially from the expectations expressed in the forward-looking statements.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sunshine-capital-inc-acquires-small-cap-development-inc-to-assist-in-portfolio-acquisitions-300295022.html
SOURCE Sunshine Capital, Inc.