Revenues from Newly Launched Titan Divisions Enhance Comfort for Projected $747 Million in Revenues and $17 Million in Earnings or $0.24 to $0.28 Per Share for Fiscal 2008
December 03, 2007
Titan Global Holdings, Inc. (OTCBB:TTGL), a high growth diversified holding company, today announced the Company has affirmed fiscal year 2008 comfort for the Company's revenue guidance in the range of $735 million to $747 million and earnings guidance in the range of $15 million to $17.5 million, or $.24 to $.28 per diluted share. Titan's revenue guidance represents a seven fold increase over fiscal year 2007 revenue results.
The projected revenue and earnings are a direct result of the Company's aggressive and successful acquisition strategy that resulted in the purchase of Appalachian Oil Company and USA Detergents in September 2007, and the assets of Nexus Nano Electronics last month. These acquisitions followed the launch of Titan Global Energy, Titan Global Brands and Titan Card Services late in fiscal 2007. The projected operating earnings exclude expenses and income related to the valuation of non-cash derivative financial instruments such as stock warrants and convertible debt instruments.
"In fiscal 2007, Titan significantly enhanced its senior management depth, integrated several new acquisitions and successfully streamlined operations," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "In Fiscal 2008, we are now focused on improving our balance sheet and completing opportunistic acquisitions for the value-added benefit of our shareholders. Recently we raised approximately $16 Million in equity to strengthen our balance sheet. We ask our loyal shareholders to judge our progress over quarter to quarter periods."
"During our scheduled investor conference call later today, I look forward to answering the questions of our shareholders and providing greater transparency as to our strategies and direction," continued Mr. Chance.
Statement to Shareholders:
"Last Friday our stock experienced unexplained volatility," said David Marks, Chairman of Titan Global Holdings. "I remind all shareholders that less than one month ago upon our Nexus acquisition, we raised $5 Million from an institutional investor at $2.00 per share without fees, points, or any warrant coverage. It is self-evident this institutional investor regarded a $2.00 per share price for Titan as compelling."
"We received questions regarding our recent filing of an Information Statement related to a possible reverse of our outstanding stock. This filing was in support of our pending application at the NASDAQ. The NASDAQ has a threshold entry share price of $4.00 per share," said Scott Hensell, Chief Financial Officer of Titan Global Holdings. "While a reverse is a clear option to comply with the NASDAQ share price requirement, our shareholders need to appreciate this is a last resort. Alternatively, we have successfully consummated strategic acquisitions that resulted in the appreciation of our share price. We have and will continue to pursue such opportunities which may directly impact our public share price while our application is pending at the NASDAQ."
"Our share price was $0.95 and $0.21 one and two years ago, respectively. Since Labor Day the weighted trading price of our stock has exceeded $2.00 per share and our recent high is $2.35 per share," said Mr. Marks. "I can assure each of our longstanding and new loyal shareholders that Bryan, our team, and I regard your trust and loyalty as a privilege and we will work each day to reward you for your support and trust with financial performance and strategic achievement. We extend our heartfelt thanks for your support and loyalty."
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. The Company takes advantage of valuable synergies between its subsidiaries to maximize revenue growth, internal development and strategic acquisitions. In fiscal 2007 Titan generated in excess of $111 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.
For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/titan/ or http://www.b2i.us/irpass.asp?BzID=1314&to=ea&s=0.
To view current news, visit http://www.trilogy-capital.com/tcp/titan/quote.html. To view an investor fact sheet about the company, visit http://www.trilogy-capital.com/tcp/titan/factsheet.html.
Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform 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 rates 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.
