SAFETY HARBOR, Fla., Jan. 13, 2014 /PRNewswire/ -- VillageEDOCS, Inc. (OTCPK:VEDO), an emerging small cap company transitioning to a real estate development, management, and marketing firm, announced today it entered into a Purchase/Option Agreement in the 4th quarter of 2013 with Holiday Island Development Corporation (HIDC) giving VEDO an option to acquire all or parts of HIDC's real estate holdings located at Holiday Island, Arkansas in a planned multi-transaction process, to be funded by the issuance of VEDO securities. Existing VEDO shareholders will maintain twenty percent (20 %) of VEDO or its successors.
In connection with the Agreement, new board members were elected on November 11, 2013 consisting of S. Gene Thompson, James L. Jones, and Michael D. Adams, who have real estate and financial industry experience. Accordingly, the new board members are believed to be better suited to lead VEDO in the development and implementation of a real estate based strategic plan going forward.
The plan is to transition VEDO from a publicly held entity with no operating divisions to an entity with operations by placing the real estate holdings of HIDC into VEDO, recapitalize the Company, and create market awareness. Additionally, there are efforts in place to change the Company's name and symbol to more closely reflect its current and planned operations. There are also plans to upgrade VEDO to a fully reporting SEC company.
FORWARD LOOKING STATEMENTS
This press release, together with other statements and information publicly disseminated by Village EDOCS, contains certain forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond VillageEDOCS' control, and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include the risk factors discussed in VillageEDOCS' filings with the Securities and Exchange Commission.
For more information and progress, please visit our website at www.holidayislandholdings.com,
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SOURCE VillageEDOCS, Inc.