DUBAI, UNITED ARAB EMIRATES--(Marketwired - Sep 4, 2015)
- Global Equity International,
Inc. (OTCQB: GEQU)
and its fully-owned subsidiary Global Equity Partners
Plc., a specialist consultancy firm with offices
located in Dubai and London, is pleased to announce to its
shareholders that the Company intends to reapply for OTCQB listing
status once the Company's closing bid consolidates at $0.01
or more.
The terms that the Company has to comply with in order to be
readmitted on the OTCQB are as follows:
1. Must be SEC reporting, bank reporting, or listed on a
qualified international stock exchange
2. Minimum bid price of $0.01
3. Companies not on OTCQB must meet an initial
minimum bid price test of $0.01 as of the close of
business for each of the last 30
calendar days
4. Companies may not be subject to bankruptcy or
reorganization proceedings and must have an SEC registered Transfer
Agent.
It is important to note that the Company currently complies with
two out of the four OTCQB listing requirements (points 1 & 4)
and once our bid price closes at $0.01 or better in the near
future, we intend to submit our application to the OTCQB and pay
the listing fees. The Company believes that up-listing back to the
OTCQB will bring more sophisticated investors to the table, hence
help to further consolidate the Company's share price.
Background:
The Company became a publically listed company by way of a Form 10
registration filed with SEC in early 2012. Our Form 10 became
effective on June 21, 2012. The Company commenced trading
on the OTCQB in October of 2012.
During 2014, the Company mistakenly agreed to take on a series
of convertible loans that unfortunately lead to its common shares
to be quoted under $.01 for more than 30 days; hence the
Company was temporarily demoted to the Pink Sheets. Our current
52 week high and low price has been $0.37 and $0.009
respectively.
As stated in our June 30, 2015 10Q filing, on August 6, 2015,
the Company finally managed to rid itself of all convertible debt
and does not intend to take on any further convertible debt in the
foreseeable future.
The Company's business model revolves around engaging with good
quality private companies with strong business models and
valuations that are seeking to list their shares on a recognized
international stock exchange, be it in the U.S., London, Frankfurt
or Dubai. We carry out extensive due diligence on our clients and
then introduce them to many sources of Pre-IPO funding. Once our
clients are funded, we then commence the process of taking our
clients to market. It is our intent to list at least two of our
clients on the US market and a further two clients on a foreign
market in early 2016.
The Company is sector agnostic (except for gambling and the
adult entertainment industry). Our wholly-owned subsidiary, Global
Equity Partners Plc, currently has 20 clients and under contract
where we can earn up to 10% cash success fees for the introduction
of Pre-IPO funding, and up to a further 10% equity success fee once
they are listed on a recognized international stock exchange. Our
current clients have valuations between 10 million USD and 318
million USD and are currently seeking between 5 million USD and 138
million USD Pre-IPO funding.
The Company's specific plan of operations and
milestones through September 2016:
1. Develop the introducer network further and in hopes
of attracting new interest for our services.
We currently are relying on introductions to potential clients by
the following firms in Asia and Europe:
- Certain registered investment houses and funds in London
(United Kingdom).
An Austrian management consultancy firm based in Vienna
(Austria).
Various investment banks based in Dubai (UAE)
Certain Private Banks based in Amsterdam (Holland), Luxembourg
(Luxembourg) and Zurich in Switzerland.
The Colombo Stock Exchange in Sri Lanka.
Various family offices in Dubai (UAE).
We intend to develop relationships with a further six
"introducers" to potential new business for the Company before the
end of December 2016.
2. Dubai expansion
We will continue to establish a firm presence in Dubai, UAE where
we are attracting clients, relationships and awareness. Our Dubai
operation is currently a branch office of the company allowing us a
license to trade in the area. This branch office will continue to
recruit new members of staff that will allow us to grow and become
more efficient in Dubai.
3. Open an office in the US.
By mid-2016, we intend, on a best efforts basis, to open an office
on the East coast of the USA in order to substantially expand our
network of introducers to new business and also professionals and
consultants.
4. Create a more efficient system for reviewing
prospective businesses.
We will concentrate our efforts on the quality of the company that
is introduced to us. We will start off by sending the client a
standard due diligence list and request that they complete the list
and send us the support for review. We will then follow-up the due
diligence with a "site visit" in order to properly understand our
client's business model and more importantly meet the principals in
person.
We will create a deeper due diligence program allowing us to dig
deep on any prospective client prior to engagement thus protecting
the company from any future problems by employing one new staff
member that will be responsible for the due diligence analysis and
creating a report for our file on their findings.
5. Expand our consultancy to include more merger and
acquisition activity.
We intend to form relationships with merger and acquisition
specialists during 2015, which will hopefully enable us to:
- Find potential merger and acquisition candidates.
Introduce our clients to brokers and investment bankers.
Introduce our clients to the appropriate professionals (attorneys
and accountants) to assist them in a public offering or exchange
listing.
The only additional cost for this activity will be a very small
administrative burden for telephone calls and communications to be
funded out of operational income, mainly income receivable from
clients currently under contract.
6. Develop in house IT department
Commencing initially with one member we will start to develop a
proprietary program allowing us to easily monitor a client's
development status and work in progress. We will also use this tool
to manage our pipeline of clients and therefore it will become
vital in our cash flow forecasting.
7. Expand the newly formed human resources department in
Dubai.
In July of 2015, the Company created an in-house human resources
department called "Kingsman James" (http://kingsmanjames.com/) with a view to be
able to provide its existing clients and other new clients with the
possibility of restructuring their companies' management with
seasoned professionals if required. We intend to continue expanding
this human resources department throughout 2015 and 2016.
8. Dual listing our common stock in Dubai.
During 2015 or the early part of 2016, when this option becomes
feasible, we intend to try to become one of the first foreign
companies to dual list on Dubai NASDAQ; our plan is to carry out a
public relations campaign alongside the dual listing process with
the public relations firm we have selected with a view to prepare a
campaign that will have a maximum effect.
9. Expand our network of contacts within the investment
community in Dubai
Our network of investment companies in Dubai is currently small;
however, we intend to substantially expand our Dubai network in
order to enable us to make introductions on a more institutional
level. We intend to develop our network to at least twelve
Investment Institutions who may have interests in minority
shareholding in companies from outside of the Middle East
Region.
At present we are being received with open arms by the Dubai and
Middle Eastern financial community; hence we have plans to host
various hospitality events for our current clients, our key
contacts and upper management of the company.
10. Expand our range of business and
contacts
We intend to take our consultancy service outside of the Middle
East and Europe into Asia and Sri Lanka. We will expand on a
'Commission Only' basis for the individuals or companies who take
on our service to offer to their clients. Accountants, lawyers and
finance professionals are the target market for overlaying our
service into their existing client banks in return for a percentage
of fees received. We also intend to add at least two new members to
our administration team during the next 12 months.
11. Road shows
We will continue the "Road shows" in Dubai with the support of the
Dubai NASDAQ for companies already listed in Sri Lanka and other
parts of Asia who could be seeking a dual listing in Dubai to
provide liquidity and more capital raising options. We have
commenced initial conversations with a brokerage house in Sri Lanka
to look at their clients they have that would be suitable for the
Dubai market. We will initially invite management of selected
companies to Dubai for a two day event in conjunction with NASDAQ
Dubai and a number of leading Investment Institutions; the
anticipated cost of this is to be met by the prospective clients
themselves and sponsorship from the institutions and NASDAQ
Dubai.
12. Further expand our range of business and
contacts
During this year 2015 and continuing in 2016, we intend to cement
in the relationships created. The target markets for attracting
clients are: Thailand, Sri Lanka, China, Hong Kong and
Singapore.
To service the clients generated from these markets we will
spend time creating a network of service companies who we can
utilize to assist us on a local basis. We will explore the
possibilities of dual listings for our clients in Singapore to
allow us a local market for any Asian clients we will attract and
giving the company a firm foothold in the Asian territory.
13. Strategic partnerships
The Company intends to actively continue to pursue the possibility
of a strategic partnership that would add value to the Company's
current business model and also overall organic and inorganic
growth to the Company.
Financials as of June 30, 2015:
For the three months June 30, 2015 the Company had revenues
amounting to $1,140,500. During these three months ended June
30, 2015, the Company received $865,500 in equity securities in a
private company, intending to file a registration statement late
this year or early 2016, in exchange for services performed. The
valuation was based on 3,460,000 common shares at $0.25 per share
and 500,000 preferred shares at $0.001 per share.
The total operating expenditures amounted to $367,491, for the
three months ending on June 30, 2015. The net income from
operations for this same period amounted to $773,009.
The Company's other income and (expenses) for the three months
ended June 30, 2015 were $(400,207) hence the net income
for this period amounted to $372,802.
Equity and Share Structure:
On August 25, 2015 we raised the authorized common shares to one
billion. One of the reasons for this was to enable the Company to
convert management's accrued salaries and loans into equity, hence
alleviating the pressure on the balance sheet.
Our current issued and outstanding common shares amount to
752,838,629 of which management now owns 544,279,439 common
restricted shares (72.30% of the total IOS). The tradable float
currently stands at 199,769,922 leaving a further 8,789,268 shares
that are currently in the hands of shareholders as share
certificates (not in trading or brokerage accounts).
News, Press Releases and our SEC
filings:
Please see all of our press releases and filings with the SEC on
our webpage:
Also, if you wish to subscribe to our quarterly shareholders
newsletter, please click on the following link: http://globalequityinternational.com/subsidiary
About Global Equity International
Inc.
Global Equity International Inc., through its wholly-owned
subsidiary 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 centers 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. Global
Equity Partners holds significant long-term equity positions in the
companies that it represents.
Safe Harbor 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.