DUBAI, UNITED ARAB EMIRATES--(NewMediaWire - Oct 19, 2016)
- Global Equity International,
Inc. (OTCQB: GEQU) and its fully-owned
subsidiaries GEP Equity Holdings
Limited and Global Equity Partners
Plc. ("GEP" - www.gepartnersplc.com) a specialist consultancy
firm with offices located in Dubai and London, would like to update
the Market on the Company's current status and certain other
events.
Our Company, through its fully owned subsidiaries, consults to
all types of businesses, large and small, around the World. Our
current mandates vary from:
- General business consulting.
Corporate restructuring advice and implementation.
Acting as a liaison between the client and their appointed
auditors, assisting with general compliance and related
matters.
Assisting in the entire process of listing a client´s common shares
on a Stock Exchange or an Over the Counter Bulletin Board by way of
liaising with attorneys, accountants and other professionals
involved in the process.
Introducing clients to potential capital funding sources, mainly
located in Europe, the Middle East and South East Asia.
Placement of key management through our Human Resources department,
Kingsman James.
Global Equity International Inc. trades on the NASDAQ OTCQB
under the trading symbol GEQU. The Company has consistently
reported to the SEC since the later part of 2012.
Progress report regarding certain current client
engagements
- Majestic Wealth: Our client received a
term sheet for US$301,500,000 approximately a month ago from our JV
partner CPM SARL and recently received another term sheet for
339,000,000 Euros from an institutional investment group to enable
the Company to carry out the construction of its Paphos (Crypus)
Hotel and Villa project. The later term sheet has been negotiated
and accepted by our client and we expect due diligence to be
carried out in the next 4 to 6 weeks. On the basis that our client
passed due diligence carried out by one of the big four (KPMG, PWC,
E&Y or Delloites), which we believe will be the case, we have
been informed that the funding will effectively occur shortly
after. We have a cash success commission agreed with Majestic that
would equate to over US$11,000,000 to be shared with the Billbarter
Group; we also have a contractually agreed equity success fee.
Quartal Financial Solutions AG: Our client is
due to close an initial Private Placement Memorandum for circa
US$1,750,000 on or before October 31, 2016. We have also sourced,
through our JV partner, the Billbarter Group, a German based fund
that is looking closely at the possibility of funding Quartal a
further US$6,000,000 to US$8,000,000. The client's audits are on
track to be completed in the near future hence allowing Global
Equity to continue on with its contractual mandate with the client.
We have contractually agreed a cash success fee for this funding
once finalized. Web: http://www.quartalfs.com/
Granite Power: Through a reputable partner
within our network in Dubai, we have gained some traction and
interest from a Middle Eastern family office to potentially fund
Granite´s capital requirements. This party is currently reviewing
the due diligence that we have provided. Granite Power requires up
to, but not limited to $35,000,000. We have contractually agreed a
cash success fee for this funding once finalized.
Web: www.granitepwr.com/
VT Hydrocarbons: Negotiations between our
client and the vendor of the facility in Aqaba (Jordan) are still
on going. We believe that the funding and closing of this circa
$100 million deal is now slowly and finally drawing to a
conclusion. We, Global Equity, have fulfilled our mandate by
sourcing the required funding through one of our financial partners
in Dubai. This is a multi-cultural and multi-jurisdictional project
hence we have no choice but to patiently wait for the rest of the
moving parts to click into place.
Primesite Developments: Our client is in the final
stages of its audits hence we hope to be able to push forward on
the next steps of our contractual mandate very soon.
Web: www.primesite-developments.com/
Teralight FZ LLC: Management of this recently
engaged client will be meeting with Global Equity´s management and
various funding partners towards the end of this month of October
(2016). We feel very bullish about this client as it is local to
Dubai and has certain telecommunication contracts that are serious
local brand names hence big players in the industry. Teralight FZ
LLC is a subsidiary of Teralight Gateway Holdings Inc.
Web: https://teralight.com/
Mepex: Our relationship with Mepex has been
slow starting due to many factors out of our control. Mepex has
expanded massively in 2016 and now feel that the time is right for
our relationship to blossom. A meeting has been called with
management of Global Equity and the Mepex board members in Bahrain
in November (2016) in order to plan and effect a roll out of our
relationship in 2017. Mepex will continue to source possible
Hydrocarbon transactions on a global basis for us to examine with a
view to a funding or public listing of that company.
Web: www.mepexonline.com/financial-partners/
We are also working on other contractual mandates that we have
not been able to disclose to the Public due to the fact that our
clients have requested us not to do so for strategic reasons.
It is important to point out that we cannot talk about any
client that is undergoing an IPO or a technical listing as it has
been expressly forbidden by our legal counsel.
Kingsman James - Our Human Resources Division in
Dubai
Towards the end of last year we set up a Human Resources
division in Dubai. This division is headed up by Mr. James R.
Payne. So far we have issued and been paid on three invoices
amounting to 306,274 AED or approximately US$84,000. We have
various other invoices to issue to our clients between now and the
end of the year.
We believe that Kingsman James can generate a minimum of
1,000,000 AED or approximately US$273,000 in the year 2017 with
very little overheads and will only grow exponentially from there
on as this division has gained a lot of traction since
inception.
Our first wave of recruitment into Kingsman James will start in
January 2017 with two highly successful individuals, already
working within the sector in Dubai joining the company.
New Joint Ventures
Recently, we signed two joint venture agreements, one being with
the Billbarter Group (www.billbartergroup.com) and the other with CPM
SARL (www.cpmsarl.com). These joint ventures will and
are allowing our Company to source the appropriate funding for all
asset backed deals and projects that we are currently working
on.
Share Structure
To date our Issued and Outstanding Common Shares are
819,499,228. The current float totals 211,298,715 Common Shares.
Management and employees own 71.75% of the total Issued and
Oustanding Common Shares and are locked in long term. The Company
has no Preferred shares in issue.
Management and employees have converted various hundreds of
thousands of Dollars of accrued salaries into common restricted
shares over the last few months, all conversions were done at an
average of $0.02 per share.
The Company currently has no intention of affecting a reverse
split of its Common Stock.
Our September 30, 2016 - 10-Q review
Our September 30, 2016 financials are currently under review by
our appointed auditors and we expect to file our next 10-Q in a
timely manner on or before November 15, 2016.
About Global Equity International Inc. and
subsidiaries
Global Equity International Inc., through its wholly-owned
subsidiaries GEP Equity Holdings Limited and Global Equity Partners
Plc., advises worldwide business leaders with their most critical
decisions and opportunities pertaining to growth, capital needs,
structure and the development of a global presence. With offices in
Dubai and London, Global Equity has developed significant
relationships in the US, UK, Central Europe, the Middle East and
South East Asia to assist clients in realizing their full value and
potential by bringing them to external capital and resources that
place an emphasis on collaborative thinking. Furthermore, because
Global Equity has offices in key financial centres of the world,
they are able to introduce their clients to a unique opportunity of
listing their shares on any one of the many stock exchanges
worldwide.
Safe Harbour Statement
This press release may include forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements related to anticipated revenues,
expenses, earnings, operating cash flows, the outlook for markets
and the demand for products. Forward-looking statements are no
guarantees of future performance and are inherently subject to
uncertainties and other factors which could cause actual results to
differ materially from the forward-looking statements. Such
statements are based upon, among other things, assumptions made by,
and information currently available to, management, including
management's own knowledge and assessment of the Company's industry
and competition. The Company refers interested persons to its most
recent Annual Report on Form 10-K and its other SEC filings for a
description of additional uncertainties and factors, which may
affect forward-looking statements. The company assumes no duty to
update its forward-looking statements.