Company to Reassess Application in Third Fiscal Quarter of 2008 to Avoid Unnecessary Reverse Stock Split
December 19, 2007
Titan Global Holdings, Inc. ("Titan") ("OTCBB:TTGL), a high growth diversified holding company, today announced that the Company's Board of Directors approved the termination of its previously announced option to reverse split its common stock. The optional reverse was consistent with Titan's strategic plan for listing on the NASDAQ stock exchange. As a result of today's decision, Titan is withdrawing its current application for listing on the NASDAQ with a strategic plan to reassess application by June, 2008.
According to the Board, a prerequisite to re-applying is that the Company's share price increases organically to or above the required $4 per share mark. For the next six months, Titan will focus on continued opportunities to grow revenue and earnings through organic plans and strategic acquisitions.
"While Titan remains firmly committed to listing on NASDAQ, we have updated our strategy to exclude a reverse split," said David Marks, Chairman of Titan Global Holdings. "Titan's board and management's top priority is the building of shareholder value and thus we will reassess a NASDAQ application later in fiscal 2008 when we believe that the Company's share price will be more in line with the prerequisites of that senior exchange. To reiterate, it was never our goal or intention to reverse our common stock for the sake of the price. Rather, to the extent our share price was below the NASDAQ required level at the relevant future date for listing, we wanted the flexibility to cure the shortfall."
Titan is a high-growth diversified holding company with a dynamic portfolio of companies engaged in emerging telecommunications markets, advanced technologies and energy.
Over the last year, Titan continued to deliver on each of its stated strategic initiatives. Some of the most recent events include:
In July, Titan formed Titan Energy Group, a division engaged in the acquisition and management of complementary energy sector assets.
In August, Titan announced the formation of Titan Global Brands to integrate, protect and expand brand management capabilities and to leverage and optimize growth from The Company's more than 100 trusted brands, which are distributed to over 65,000 retail locations.
"We are as focused as ever on efforts to streamline and grow existing units as we continue to explore options for strategic acquisitions that result in revenue and earnings growth," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "We believe that this approach to organic and acquisitioned growth will result in the desired share price required by NASADAQ. We are very optimistic about the future of Titan and look forward to delivering the type of shareholder value that our shareholders have come accustomed to."
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 86,000 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.
