LAS VEGAS, April 25, 2012 /PRNewswire/ -- Beneficial
Holdings Inc. (PINKSHEETS: BFHJ) is pleased to announce that it has
commenced negotiations to finalize a binding Memorandum of
Understanding ("MOU") to acquire a significant interest in a
domestic US operating company involved in gaming and casino
interests. Also, it is in the midst of final negotiation to engage
an advisor for its activity in the casino and gaming activities.
The intention is to have such operation as part of a domestic
gaming division alongside the future energy division for which an
MOU is currently in the midst of being finalized as well and
advisor engaged. In addition, there are intentions to form two
other divisions with which there will be a level of synergy that
will bode well for the future.
Gregory N. Senkevitch, President
and CEO states, "We believe it important to have a
well-balanced company comprised of domestic operations that
will be somewhat unaffected by the cycles of the economy. Our
vision includes energy, gaming, beverage and value added real
estate. Each division, in its own right, shall have the
fundamentals that would make it both profitable and stable with a
path to future growth in earnings and appreciated value. All should
be in a position to commence generation of returns to investors
without the risk of having to wait very long for licensing or
production. We are in the midst of assessing our
opportunities for each segment of our prospective business
plan."
The Company's prior management had filed financial statements
for the year ended December 31, 2011
and a request was made for further clarification by current
management. We appreciate their having responded by filing an
amendment and we will review such information to determine if it is
consistent with what might be expected of a company
interested in full compliance, in the future, with United States generally accepted accounting
principles and regulatory reporting requirements.
"Beneficial Holdings Inc. is currently known as a casino
investment holdings company, specializing in acquiring undervalued
gaming assets. Prior to coming on board, expectations were that the
company would grow through acquisitions, strategic alliances and
entrepreneurial investments. The intention is to deliver
exactly that," according to Senkevitch.
Best regards,
The Management of BFHJ
|
Information
|
|
Beneficial
Holdings Inc.
|
|
646-543-0677 Telephone
|
Forward-Looking Statements
This press release may contain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934. As
a general matter, forward-looking statements reflect our current
expectations and projections relating to our financial condition,
results of operations, plans, objectives, future performance and
business. These statements may be identified by the use of
forward-looking terminology such as "may", "will", "expects",
"plans", "estimates", "anticipates", "projects", "intends",
"believes", "outlook" and similar expressions.
The forward-looking statements contained in this press
release are based upon our historical performance, current plans,
estimates, expectations and other factors we believe are
appropriate under the circumstances. The inclusion of this
forward-looking information is inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and
some of which might not even be anticipated. Future events and
actual results, financial and otherwise, may differ materially from
the results discussed in the forward-looking statements. Statements
regarding the following subjects, among others, may be
forward-looking: Our business and investment strategy; our
projected operating results; estimates relating to our ability to
make distributions to our stockholders in the future and economic
trends and economic recoveries.
All information in this release is as of April 25, 2012. The Company does not undertake a
duty to update forward-looking statements, including its projected
operating results. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company may, in its
discretion, provide information in future public announcements
regarding its outlook that may be of interest to the investment
community.
SOURCE Beneficial Holdings Inc.