ST. PETERSBURG, FLORIDA--(Marketwire - 03/21/11) - Title Consulting Services, Inc., (PINK SHEETS:TITL - News) (www.titleconsultingservices.com) would like to update its investors and followers on its second mobile app merger.
TITL has signed a Letter Of Intent with a second smartphone app company and management would like to provide further details on what these mergers will do for the conglomerate. The deals for these two new app companies are on track to close by the end of April, subject to due diligence and the seller maintaining specific operational goals prior to closing.
Adding these two smartphone app companies to TITL's recently acquired PresentAll subsidiary will result in approximately $900,000 in additional gross revenue and approximately $250,000 in profits (excluding depreciation). This means that TITL's gross income will approach approximately $2.5 million on a consolidated basis. TITL also looks to additional economies of scale and cross-marketing products and services, which should result in further income growth opportunities.
"These three companies are a good start to our expansion into the fast growing IT sector and will add gross revenue and profits to our existing solid base of business," says TITL CEO Dustin Secor. "Our continued goal is to add profitable companies to our growing portfolio and create a diversified company with annual net operating income approaching $1 million annually, exclusive of depreciation, over the next 18 to 24 months."
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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