TAIPEI, TAIWAN--(Marketwired - Nov 11, 2014) - Successful Holding Group International Inc. (
SHGT reported that Success Holding Group Corp. USA ("Success Holding") loaned an aggregate of $2,700,000 to SHGT's wholly-owned subsidiaries. SHGT's wholly-owned subsidiaries issued three promissory notes as follows: (i) $1,000,000 on August 18, 2014; (ii) $500,000 on August 28, 2014; and (iii) $1,200,000 on August 28, 2014. During October 2014, SHGT repaid $2,580,000 towards the aggregate debt. The $1,000,000 and $500,000 notes were repaid in full and cancelled. The remaining $1,080,000 was applied to the $1,200,000 note, establishing a remaining balance of $120,000.
Management believes SHGT is transitioning to full operating status becoming a multi-operating income profitable company. Chairman, Steve Andrew Chen, states: "SHGT has accumulated revenue of $7,500,000 and estimates by end of 2014, SHGT will reach $20,000,000 in revenue and pre-tax per share of approximately $0.40~$0.50 per share and fully expects future earnings to continue increasing."
Future Business Operations
SHGT is seeking and identifying private-public companies in Asia as merger and acquisition candidates. SHGT-OTC is now forecasting pretax earnings of $0.4~$0.5 per share. Mr. Chen's vision is to have SHGT on the Frankfurt and NASDAQ Stock Exchanges in the near future, giving SHGT leverage to acquire more valuable companies in Asia. 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, we will be able to pursue more aggressively in acquiring quality companies in Asia. We have plans to invest or acquire up to 30 companies within the next ten-fifteen years, and our shareholders should be able to reap the benefit of the higher growth potential in the Asia region."
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is intended to qualify for the liability safe harbor created by those laws. When used in this release, the words "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such statements involve known and unknown risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical facts included in this release regarding our strategy, future operations, financial position, prospects, plans, and objectives of our management are forward-looking statements. Our actual results could differ materially and adversely from those anticipated in such forward-looking statements as a result of certain factors, including, but not limited to, the success of our on-going product development efforts, adverse results of any legal proceedings, diverse economic and competitive conditions. Any such differences may be caused by risk factors listed from time-to-time in the Company's releases and/or its filings with the OTC Markets, or as a result of other factors. We undertake no obligation to publicly update or revise any forward-looking statement to reflect actual results or changes in assumptions or other factors that could affect those statements.