ST. PETERSBURG, FLORIDA--(Marketwire - 02/22/11) - Title Consulting Services, Inc. (PINK SHEETS:TITL - News) (www.titleconsultingservices.com) announces that the company is taking decisive steps regarding its search for viable business ventures in the high-tech sector, with a second targeted merger candidate in the high-tech space.
The company has successfully negotiated and signed a Letter of Intent with a high-tech venture company, and expects to proceed with a thorough due diligence for this merger and/or acquisition shortly. The targeted merger candidate offers a solid business model in the smartphone application development industry, is in the revenue generating mode and is profitable with solid plan for future growth.
TITL CEO Dustin Secor stated, "We made it perfectly clear that we want to complement our insurance business and diversify into high-tech ventures, and that we intend to move fast. So, following the PresentAll merger, which is to close within days, we will continue to diversify our focus in the high-tech sector. A Letter of Intent has been signed and we are proceeding with the due diligence as we speak. We are moving at a breakneck speed and seek further opportunities in this profitable and growing sector."
"In other company updates, the Bios of the PresentAll principals are available on the company website (http://www.presentall.com/support/the_team/). PresentAll management experience will offer TITL further insights into the high-tech services and guidance in future business opportunities on evolving high-tech market."
"As we are diversifying TITL business at high speed, we are also seeking to change the company name to better address our focus in the tech space. We invite our shareholders to participate in the name selection process. Suggestions for our new corporate identity can be emailed to info@accutitleagency.biz. The selected name will be announced in concert with the State filings."
"Just so that everyone is clear, this new merger is in addition to PresentAll. We seek to close the PresentAll merger this week, and we will provide updates on all news and developments as they progress on a timely basis."
More updates are forthcoming.
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.
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