Totowa, NJ, Aug. 19, 2013 (GLOBE NEWSWIRE) -- Premiere Opportunities Group, Inc ("OTCQB:PPBL") expects to expand its global reach into the Corporate Advisory Market
Chris Giordano Premiere's Chairman/CEO stated, "2013 has been a watershed year for Premiere and its shareholders. We have trimmed down our debt to negligible levels and expect to be virtually debt free by the end of the 1st quarter 2014.
Secondly, we have had tremendous success in launching our advisory services business model in assisting Nano Cap type companies (companies with market caps or expected market caps of under $50 MM) with their corporate issues. The range of issues with such companies can start with the strategic planning of a product launch, to assisting our corporate client in the "going public process". At Premiere we have as our associates, individuals with the experience and knowledge base to assist our corporate clients in all areas of the corporate planning process that they may need.
To date we have four active clients of which two are public with the other two clients about to become public. These successes have led to a tremendous interest in our services platform. And at this current moment we are in discussions with 8 different companies for varying services all with an eye to becoming a public company.
Our opportunity is the fact that the investment banking community is literally devoid of the volume of firms neccessary to service this sector since most of the banking firms that did service them have either been consolidated or were lost to the last collapse in the public company marketplace. This has led most private companies to go the "reverse merger shell" route at tremendous expense in both cost and in some cases the integrity of the "public shell". The costs of a fully reporting public shell can be upwards of $250,000 plus 5-20% of the company's equity. The post merger filing requirements in most reverse mergers beckon the question why the company did not file its own registration statement to begin with. And even when doing a company sponsored registration statement the costs between legal, accounting and other ancillary charges can easily exceed $250,000 to $500,000 which is a substantial expense when given the "free cash balances" of smaller businesses
At Premiere we deliver the corporate client a "fully reporting" public company status for $100,000 and under plus a negotiated equity stake in their company. In addition, we can also point a company to potential financing that they seek in conjunction with their public company status. This has sparked a tremendous interest in what we do in the advisory services division of Premiere. "Build it and they will come" is what I was told by one of our Board Members and they did.
With this success and in conjunction with the seemingly strong need for similar services overseas we are pleased to announce that we will be expanding our "global reach" in 2013 and 2014. Premiere now expects to open offices in both London in 2013 and Taiwan in early 2014. The market and potential opportunities in the spectrum and capacity that these offices will serve is boundless. Servicing the needs of the companies in these markets is an extraordinary opportunity being that we will have associates representing Premiere in these countries that truly know the landscape there and where the pockets of opportunity are. Taiwan is an exceptional opportunity being that we are in the getting involved with a country that is turning its economic base model from a "manufacturing based" economy to a to "technology based" economy. This transition is similar in nature to what was done in Korea which led to companies like Samsung becoming the number one electronics manufacturing company in the world instead of a second tier manufacturer it was just 10 years ago. Taiwan is also looking to create technology and market it globally instead of just being known for higher quality "contract manufacturing". Companies like HTC, ASUS Computers and Microtek are leading the way in developing proprietary design and brand which is the key to changing the economic base for their future.
We are extremely pleased with the progress our company has made internally and we look forward with great expectation the future opening of our foreign offices and the potential they offer Premiere and its shareholders."