ST. PETERBURG, FLORIDA--(Marketwire - 02/11/11) - Title Consulting Services, Inc. (PINK SHEETS:TITL - News) (http://www.titleconsultingservices.com), Accu Title Agency (http://www.accutitleagency.biz) has completed its evaluation and a preliminary review of its merger candidate: PresentAll (www.presentall.com). TITL management is of the opinion that PresentAll will be of great benefit to the company and its shareholders.
TITL management envisions PresentAll, as a wholly owned subsidiary of TITL, will add to shareholder equity through consolidated financial statements. PresentAll produced solid net income (exclusive of depreciation) in 2010. Negotiations have been progressing well, and TITL expects to close this deal shortly.
PresentAll makes browser-based web-conferencing software that enables people to meet online effortlessly and affordably via webcasts, telepresence, webinars, streaming conferences and online courses.
"PresentAll is fully operational and has several other cutting-edge projects on the table," says TITL CEO Dustin Secor. "We will not disclose any new product details until the deal is sealed, but we look forward to sharing this information once they are added to the PresentAll product line."
It was predicted last July that annual worldwide Software as a Service (SaaS) sales would reach $8.5 billion, up 14.1% from 2009. PresentAll is part of this market and is poised for rapid growth through further product development and market deployment. It's estimated that 75% of all businesses will communicate using online meetings or online web conferencing by 2013.
TITL has been looking to transform itself into a small conglomerate encompassing real estate, technology and possibly other sectors, and management feels that PresentAll's viable business model may be a perfect fit.
PresentAll is one of several mergers that TITL management is targeting for 2011.
The company intends to provide frequent and time-sensitive updates to its followers on a regular basis.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Title Consulting Services, Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. Title Consulting Services, Inc. cautions you that any forward-looking information provided by or on behalf of Title Consulting Services, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Title Consulting Services, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Title Consulting Services, Inc.'s control. In addition to those discussed in Title Consulting Services, Inc.'s press releases, public filings, and statements by Title Consulting Services, Inc.'s management, including, but not limited to, Title Consulting Services, Inc.'s estimate of the sufficiency of its existing capital resources, Title Consulting Services, Inc.'s ability to raise additional capital to fund future operations, Title Consulting Services, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Title Consulting Services, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Title Consulting Services, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment