Company's First Quarterly Report for 2008 to Reflect Continued Integration of Several High-Growth Acquisitions Completed in Fiscal 2007
January 15, 2008
Titan Global Holdings, Inc. (OTCBB:TTGL), a high growth diversified holding company, today announced that it will report record revenues of $122 million for the first quarter ending November 30, 2007, representing a $92 million or 307% increase from the Company's $30 million in revenues for the same period the previous year.
The Company attributes its record revenues to the completion of three significant and business-changing acquisitions during its first fiscal quarter. Additionally, Titan announced that it will delay the filing of its Form 10QSB report for the three months ended November 30, 2007, pending the completion of its initial purchase accounting work associated with its recent acquisitions completed in the first quarter. Titan expects to complete its filing for its first quarter of fiscal year 2007 within the extension deadline allotted by the Securities and Exchange Commission.
"We are near completion of the purchase accounting work for our acquisitions and reporting our first quarter of 2008," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "Titan has transformed into a diversified holding company in the first quarter of fiscal year 2008 with over 74% of our revenues now being generated in the vibrant energy sector."
Titan completed its acquisition of Appalachian Oil Company ("Appco") on September 17, 2007. Appco is the first acquisition of the Company's recently announced Titan Global Energy division, which was formed to aggregate energy assets that can provide significant opportunities for revenue and earnings growth, such as the continued vertical integration of the supply chain, as well as future acquisitions to complement Appco's existing retail and wholesale distribution footprint.
"Our team is focused on the completion of the financial integration of our acquisitions," said Scott Hensell, Chief Financial Officer of Titan Global Holdings. "The transformation of the company will be apparent to our shareholders after we file the first quarter results."
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.
