FORT WAYNE, IN--(Marketwired - Dec 19, 2014) - Success Holdings Group International (
SHGT purchased from FDMF 55% of Launch TV for 500,000 SHGT restricted common shares. SHGT shares carry a 24-month lock-up.
SHGT Chairman Steve Chen, commented, "I am extremely excited to bring in our first acquisition of a USA operation. The Launch TV platform perfectly fits our entertainment and video distribution. SHGT is currently seeking/identifying private-public companies in Asia as merger and acquisition candidates. My vision is to have SHGT listed on the Frankfurt and AMEX exchanges in the first half of 2015. This will give SHGT the leverage to acquire more valuable companies throughout Asia and the USA."
Brian Kistler, FDMF's CEO stated, "Eight months ago when I acquired Launch TV I had full intention of introducing Launch TV to Mr. Chen. The timing was not right for SHGT in April of 2014, but now that it has a firm foothold and moving forward with its plans it is a match made in Heaven. The shares of SHGT will be held in the name of FDMF and will be distributed in a stock dividend to the shareholders of FDMF at some point (within the lockup). The date for the dividend is still to be determined but until then will remain an asset of FDMF."
Launch TV reaches a national audience of 40+ million in Europe and America; it can be viewed live on ROKU, iPad, iPhone, Android, and Smart TV devices via iPoint TV. Launch TV is planning to expand its market into Asia in 2015.
SHGT is currently seeking companies in Asia as acquisition and merger candidates. SHGT currently trades on the USA OTC markets and is forecasting pretax earnings of $0.4~$0.5 per share. Mr. Chen and SHGT will focus on integration of chain stores and brand names, IOT (Internet of Things), alternative energy technology, internet and logistics. Mr. Chen stated, "Through the newly structured public company, SHGT will be able to pursue more aggressively to acquire quality companies in Asia. SHGT plans to invest or acquire up to 30 companies within the next ten to fifteen years, and our shareholders should be able to reap the benefit of the higher growth potential in the Asia region."
This press release contains certain "forward?looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward?looking statements. The Company, through its management, makes forward?looking public statements concerning it expected future operations, performance, and other developments. Such forward?looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in company's public announcements.