Global Vision Holdings, Inc. Signed Letter of Intent to Acquire Art Masters, Inc.
February 07 2014 - 5:42AM
Marketwired
Global Vision Holdings, Inc. Signed Letter of Intent to Acquire Art
Masters, Inc.
IRVINE, CA--(Marketwired - Feb 7, 2014) - Global Vision
Holdings, Inc. (OTCQB: GVHIB), a diversified holding company
focusing on environmentally responsible, profitable and growing
companies, announced today that they have signed a letter of intent
to purchase 100 percent of Art Masters, Inc.
About Art Masters,
Inc. Formed
over 25 years ago, Art Masters, Inc. has served as the premier
provider in interactive, multi-media Art education to elementary
school students worldwide. As California's leading art program, Art
Masters, Inc. has introduced Monet, Picasso, Van Gogh and a total
of 35 master Artists to more than 2 million Kindergarten thru 8th
graders. In 1985, Bonnie Steele began Art Masters, Inc. as a
volunteer project for her daughter's sixth grade class at Del Lago
School in Mission Viejo, CA. The program's popularity spread
quickly, and today Art Masters, Inc. employs over 45 teachers. The
program continues to grow with the help of thousands of volunteers.
Though its roots are in California, Art Masters, Inc. has spread to
every region of the U.S. and internationally. Several years ago,
Mr. Stuart Groman, President of Art Masters, Inc. took on this role
wanting to continue on with his late wife's legacy. Primarily
focused on teaching young students the relevance of Art and the
importance of keeping this tradition alive; Art Masters, Inc.
contracts teachers who serve over 250 schools. The teachers work
one on one with the students and the students look forward to these
teachers coming to their schools. With all of the budget cuts, Art
Masters, Inc. has been able to establish long term relationships
with these schools and does not rely on government funding for
continued success. The schools, parents and other charitable
foundations provide all of the funding, making Art Masters, Inc. a
very profitable and niche organization.
Glen Carnes, CEO of Global Vision Holdings, Inc., states: "Art
Masters, Inc. is one of many companies we have pursued over the
last 6 months based on its strong fundamentals and we look forward
to the continued success of the company. Art Masters, Inc. fits
right into our current portfolio of companies with strong cash
flows and tremendous amounts of room for growth and profitability.
We look forward to growing their presence in this marketplace,
increasing the amount of schools they can service state wide and
nationally, and moreover, continuing on with the legacy that Mr.
Groman's wife established over 20 years ago. In addition, our
current strategic plan for the next 6 months is to raise 3-5
million dollars in additional capital to continue to add to our
growing portfolio of successful companies and increasing
shareholder value."
About Global Vision
Holdings, Inc. Headquartered in Irvine, California, Global
Vision Holdings, Inc. is a diversified financial holding company
that evaluates acquisition and investment opportunities with a
focus on up-and-coming and growing businesses. Global Vision
Holdings, Inc. uses a superior team of financial research experts
and an in-house responsibility analysis to make recommendations for
strategic acquisitions. For more information, please visit our
website at www.globalvisionholdings.net.
Cautionary Statement Regarding Forward-Looking Statements
This release may include forward-looking statements. These
forward-looking statements are based on current expectations that
involve risks, uncertainties and assumptions. Should one or more of
these risks or uncertainties materialize or should underlying
assumptions prove incorrect, actual results may differ materially.
These risks include: changes in business or other market
conditions; the challenge of managing asset/liability levels; the
difficulty of keeping expense growth at modest levels while
increasing revenues; unforeseen challenges with respect to product
development and the timing thereof; integration efforts relating to
our acquisition activities; uncertainties regarding financing
efforts which may be undertaken by the Company; and other risks
detailed from time to time in the Company's Securities and Exchange
Commission reports, including but not limited to the Annual Report
on Form 10-K for the most recent year ended. Pursuant to the
Private Securities Litigation Reform Act of 1995, the Company does
not undertake to update forward-looking statements contained within
this news release.
Contact: Glen Carnes Chairman and CEO Global Vision Holdings,
Inc. 949-281-6438 glen.carnes@globalvisionholdings.net
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