DUBAI, UNITED ARAB EMIRATES--(NewMediaWire - Aug 11, 2016)
- Global Equity International,
Inc. (OTCQB: GEQU) and its fully-owned
subsidiary Global Equity Partners
Plc. ("GEP" - www.gepartnersplc.com), a specialist
consultancy firm with offices located in Dubai and London, are
pleased to announce that today the Company filed their Q2 2016 form
10Q.
Business Overview
Located in London (UK) and Dubai (UAE), Global Equity
International Inc. and its subsidiaries is a Company that consults
to businesses located around the global. To date, we have 21
clients under contract that we deem to be active and our mandate
with these clients varies from:
1. General business consulting.
2. Corporate restructuring advice and implementation.
3. Acting as a liaison between the client and their appointed
auditors.
4. Assistance with general compliance and related matters.
5. Assistance 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.
6. Introducing clients to potential capital funding sources, mainly
located in Western and Eastern Europe, the Middle East and South
East Asia.
7. Placement of key management through our Human Resources
department.
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.
Financial Overview based on our most recent June
30, 2016 - 10Q filing
1) Balance sheet: Analytical comparison between June 30,
2016 and December 31, 2015.
- Current assets increased by 4% from $136,543 to $142,351.
Long-term investments increased by 16% from $2,650,471 to
$3,085,322.
Total assets increased by 16% from $2,807,095 to $3,242,491.
Current liabilities decreased by 12% from $2,283,652 to
$2,016,358.
Stockholders' equity increased by 134% from $523,443 to
$1,226,133.
2) Income statement: Analytical comparison between the
six months ended June 30, 2016 and June 30, 2015.
- Revenue decreased by 4% from $1,155,500 to $1,105,521 but still
shows signs of quarter over quarter consistency.
Operating expenses decreased by 19% from $840,078 to $677,266.
Operational profit increased by 36% from $315,422 to $427,985.
Other expenses decreased by 86% from $738,438 to $101,049.
Net profit increased by 177% from a net loss amounting to
$(423,016) to a net profit amounting to $326,936.
3) Convertible Debt:
- As of August 2015, the Company has had no further "toxic"
convertible debts.
4) Current Share Structure:
- During the six months ended June 30, 2016 the Company's
officers and directors converted a total of $305,000 of accrued
salaries into common restricted shares between $ 0.0201 and $0.0248
per share.
The Company's total shares issued and outstanding (IOS) at June 30,
2016 and also at August 11, 2016 was, and still is, 795,015,973 of
which almost 72.58% are restricted under SEC rule 144 and in the
hands of management and employees.
The Company's trading float at June 30, 2016 and also at August 11,
2016 was, and still is, 207,698,715 which represents 26.13% of the
Company´s IOS. The other 1.29% of the Company IOS are shares in the
hands of historical shareholders that are still in certificate
form.
Progress report regarding certain current client
engagements
- Quartal Financial Solutions: QFS are
working hard with our Company in order to finalize and fill their
first Private Placement Memorandum (PPM) ahead of more advanced
corporate activities. QFS are currently being considered for a
substantial investment by two Middle Eastern groups and in addition
we have sourced a number of smaller groups to support the shorter
term cash flow.
- United Global: We are introducing this
client to a number of small banking institutions to assist
operationally in addition to investigating the financing options
for the company´s 2016/17 growth plans. We are also exploring a
route to a possible significant Chinese bank for Unite Global to
work with and have exposed the company´s platform to a major Middle
Eastern Bank.
- Granite Power: We have had interest from
a number of sources in both the Middle East and South East Asia, we
are now exploring the suitability of the possible investors to
ascertain the most complimentary and suitable partner to help the
company with its ambitions to grow and expand over the next months
and years.
- VT Hydrocarbons: All parties are now
finalizing various elements of a Share Purchase Agreement for the
asset in Jordan. The negotiations have been ongoing for months and
are now finally drawing to conclusion with all related parties
working on a time line and final structure for the closing and
subsequent handover of the approximate US$100 million of debt and
equity financing.
- Primesite Developments: Negotiations are
currently taking place with a significant investor which will allow
the Company to take a quantum leap in their business plan. The
regulated documents (PPM) have been prepared and are being verified
for suitability prior to presenting to the investment team who have
significant interest in this Company. The Company's required audits
are now nearing completion.
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 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. Global
Equity International Inc., through its wholly-owned subsidiary
Global Equity Partners Plc., holds long-term equity positions in
most of the companies that it represents.
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.