NEW YORK, May 6, 2013 /PRNewswire/ -- (OTCQB: FBCD) FBC Holding, Inc. would like to update its shareholders on recent events.
We previously announced that we have begun discussions with several operating businesses with an interest in bringing those entities into FBC Holding. We are pleased to announce that we have executed a Letter of Intent to purchase substantially all of the assets of an East Coast-based provider of used and refurbished machines utilized in the PCB (Printed Circuit Board) and SMT (Surface Mount Technology) industry. The company has been in business for over a decade and has aggregated a sizable network of Loyal small and medium sized business customers.
Frank Russo, CEO of FBC Holding Inc., stated that, "Our company is very fortunate to have a great network of privately held companies to consider and this is one that meets our criteria and will come with revenues, positive cash flow and a great opportunity for expansion. We have had additional meetings with a gold/silver mining company which has multiple projects as well as with the conductive ink company which has an incredible technology with seemingly unlimited applications. Our previously announced LOI with a privately-held IT startup has been terminated but there is no shortage of additional opportunities."
All of these opportunities meet with our management's established criteria of being revenue stage, operating businesses with low DSO and CapEx requirements and short AR turnover. Also these businesses that we are evaluating will be immediately accretive to earnings. These and similar businesses will diversify the company's revenues and form a good base upon which we can grow.Disclaimer and Release of LiabilityThe Company is advising readers that non-affiliate shareholders of the company, and the Company may, from time to time, engage the services of unaffiliated firms to provide investor relations and advertising services. These third party shareholders may own the Company's shares and plan to liquidate, which may negatively affect the stock price. All content in our releases is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. The Company does not purport to provide an analysis of any company's financial position, operations or prospects and this is not to be construed as a recommendation by the Company or an offer or solicitation to buy or sell any security. Neither the Company nor any of its members, officers, directors, debt-holders, contractors or employees are licensed broker-dealers, account representatives, market makers, investment bankers, registered investment advisors, analyst or underwriters. Readers should always consult with a licensed securities professional before purchasing or selling any securities of any company including our own. It is possible that a reader's entire investment may be lost or impaired due to the speculative nature of the investment. Some of the content in this release may contain forward - looking information within the meaning of Section 27 A of the Securities Act of 1 9 9 3 and Section 21 E of the Securities Exchange Act of 1 9 3 4 including statements regarding expected continual growth of the Company and the value of its securities. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 it is hereby noted that statements contained herein that look forward in time which include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward - looking statements or announcements mentioned in this release. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the company's filings with the Securities and Exchange Commission. However, a company's past performance does not guarantee future results. Remember, never invest in any security of a company unless you can afford to lost your entire investment. Also investing in micro-cap securities is highly speculative and carries and extremely high degree of risk
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