Long-Time Credit Industry Veteran Adds Further Depth to Company's World-Class Management Team
November 19, 2007
Titan Global Holdings, Inc. (OTCBB:TTGL), a high-growth diversified holding company, today announced the addition of Douglas Ballman as Chief Credit Officer of Titan Global Holdings. Mr. Ballman will oversee credit policy management and collateral management for Titan's large and growing portfolio of companies operating in the vibrant markets of energy, communications, consumer products, electronics and homeland security. While Mr. Ballman will be based at Titan's headquarters in Richardson he will spend time at each of Titan's nationwide locations.
"I am excited to join Titan and look forward to begin implementing my proven management models to integrate the credit process for Titan's growing portfolio of operating divisions," said Douglas Ballman, Chief Credit Officer of Titan Global Holdings. "Furthermore, I look forward to assisting Titan's team in analyzing credit elements for future acquisition targets. Intellectually, Titan offers me a unique opportunity to use my extensive experience in new and creative ways."
Mr. Ballman has over 20 years' experience in commercial credit, commercial lending and liquidations. He has served as Vice President of Credit for a global fortune 500 corporation and at the Federal Deposit Insurance Corporation. He has also served as a Liquidation Manager at two major corporations, overseeing the liquidation and restructuring of major sub-standard accounts for company divisions in steel, oil, construction and leasing.
Additionally, Mr. Ballman has served as an interim Chief Credit Officer for a troubled manufacturing business, with a $400 million accounts receivable portfolio. He led the liquidation of accounts receivable in the telecommunications industry for a major distributor of office equipment and supplies. He is an expert in recognized cash forecasting and risk mitigation. Mr. Ballman holds a MBA and BBA from the University of Cincinnati. He is a Certified Credit Executive, the highest credit certification, and a Credit Business Fellow. Mr. Ballman has had several works published in the field of credit and financial management.
"As we continue to grow, we will continue to strengthen our management team," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "The proper application of credit policy enhances one of our largest assets, accounts receivable, and assists our marketing teams in their efforts to steadily but soundly grow our revenue. Doug's experience is exceptional and we are honored to have him on the Titan team."
"As we integrate our businesses and examine new opportunities, we are keenly focused on credit quality issues," said Scott Hensell, Chief Financial Officer of Titan Global Holdings. "Doug provides us with proven strategies and methods to manage our business units. I am delighted with his addition to our team."
"We were fortunate to add Doug to our team at this phase of Titan's evolution," said David Marks, Chairman of Titan Global Holdings. "We have and will continue to pursue opportunistic acquisitions across all of our divisions. Doug adds unique strengths that will enhance our ability to successfully analyze, complete and execute on new opportunities."
About Titan Global Holdings
Titan Global Holdings is a diversified holding company with a dynamic portfolio of subsidiaries spanning international telecommunications, electronics and homeland security, consumer products and energy resources. Through our nine wholly-owned subsidiaries, we take advantage of valuable synergies between our subsidiaries to maximize revenue growth, internal development and strategic acquisitions. In fiscal 2006 Titan generated in excess of $109 million in revenues on a consolidated basis and projects fiscal 2008 revenues up to $747 million. Titan's operating divisions include the following:
Titan's Telecommunications Division addresses a range of high-growth markets in the telecommunications, wireless and mobile segments. Companies include Oblio Telecom, Inc., the second largest publicly-owned company focused on the international prepaid telecommunications segment, StartTalk, Inc., Pinless, Inc., Titan Wireless Communications, Inc. and Ready Mobile.
The Titan Global Energy Division aggregates traditional and next-generation energy and fuel assets that can provide significant opportunities for growth in one of the world's largest and most critical markets.
Titan Global Brands integrates, protects and expands brand management capabilities to leverage and optimize growth across Titan's worldwide distribution channels. We own or manage more than 100 brands that are distributed through efficient, overlapping and expansive distribution channels.
Titan Card Services capitalizes on the burgeoning multibillion dollar international prepaid money transfer sector. The Card Services division provides a seamless brand extension for Titan's growing family of prepaid products, currently sold through a nationwide network of more than 71,000 retailers.
Titan's Electronics and Homeland Security Division includes Titan PCB East, Inc. and Titan PCB West, Inc. These companies specialize in the manufacture of advanced circuit boards and other electronic products for classified military and defense department customers, and other high-tech clients.
For more information, please visit: www.titanglobalholdings.com or http://www.b2i.us/irpass.asp?BzID=1314&to=ea&s=0.
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Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TTGL could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
