TGI Acquires Trading Platform Source Code for $1.5 Million
March 23 2011 - 10:00AM
Marketwired
TGI Group (PINKSHEETS: TSPG), diversified holding company,
announced today that it has acquired a trading platform source code
from a California-based technology Company for $1.5 Million.
This purchase comes in light of recent developments, when TGI
entered into an agreement with Worldlink Group plc, which has
patent protected technology platform for the transfer of real time
financial and other data to mobile devices.
The Purchased Assets shall include a non-exclusive copy of the
trading platform source code. The source code being purchased
includes a front end trading interface, a back office reporting and
management system and gateways to liquidity providers. The source
code currently supports foreign exchange and contracts for
difference transactions. The source code has been successfully
implemented in demo and live environments by several registered
financial companies and is being used by their clients. TGI shall
have the right to develop this source code into a multi-asset class
trading platform or make any other modifications it desires to
make. All modifications of the source code shall belong to TGI, and
TGI shall retain all rights to these modifications.
TGI shall pay for the purchase with combination of its preferred
and common stocks, which will have convertibility option into
common, upon reaching certain criteria, and will give seller
substantial equity position in TGI.
About TGI Solar
TGI SOLAR POWER GROUP INC. (www.tgisolar.com) is a diversified
holding company. The Company offers its products and services to
clients on a worldwide basis and currently maintains JVs and
strategic alliances with installation, integration and energy
consulting firms. TGI's strategy is to acquire new patented
technologies, components, processes, designs and methods with
commercial value that will give market advantage and generate
shareholder value.
Safe Harbor Statements under the Private Securities Litigation
Reform Act of 1965: Those statements contained herein which are not
historical are forward-looking statements, and as such, are subject
to risks and uncertainties that could cause actual operating
results to materially differ from those contained in the
forward-looking statements. Such statements include, but are not
limited to, certain delays that are beyond the company's control,
with respect to market acceptance of new technologies, or product
delays in the testing and evaluation of products, and other risks,
as detailed in the company's periodic filings with the Securities
and Exchange Commission.
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