ATLANTA, July 27, 2005 (PRIMEZONE) -- Equus Resources, Inc. (Pink Sheets:EQUR) ("Equus") announced today it has acquired REALPROS(TM) Real Estate, Inc. ("REALPROS(TM)"), in connection with its acquisition of American Career Training Institute, Inc. ("ACTI"), an Atlanta-based financial services and real estate training institute.
REALPROS(TM) is a licensed full-service real estate broker which has operated in the Atlanta metropolitan area for the past six years. REALPROS(TM) charges its experienced agents an annual fee and a flat per transaction fee per transaction which allows its agents to significantly increase their share of commissions earned per transaction. This model has made the company successful in recruiting agents from larger local brokers as well as the national firms.
REALPROS(TM) provides its agents initial and ongoing training programs and also offers an apprenticeship program for new agents. Equus plans to rapidly increase the agent base of REALPROS(TM) by aggressively marketing the business model and by expanding operations throughout the Southeast.
Randy Harris, President of Equus, in commenting on the acquisition, stated: "This acquisition fits in perfectly with our one-stop financial shop concept by adding home sales to our growing stable of consumer services. In this same vein, we are very excited about the ability of REALPROS(TM) to generate additional business opportunities for our related financial services operations. The business model at REALPROS(TM) has significant competitive advantages over other real estate brokers that will enable us to replicate it regionally and ultimately nationally."
About Equus Resources
Equus Resources is a multi-faceted financial services company that offers consumer and commercial clients a broad range of mortgage and insurance products, mainly in the southeastern states. Equus plans to expand its business through internal growth and acquisition and to add new financial products and services as demand warrants. Equus is headquartered in Roswell, Georgia, a suburb of Atlanta. For more information, please visit us at www.equusresources.com and www.teamonemortgage.com or e-mail us at investorinfo@equusresources.com and we will be happy to add you to our electronic mailing list.
Forward-Looking Statements:
Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Securities Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, the receipt of revenues, and other factors, many of which are beyond the control of the Company. The Company disclaims any obligation to update information contained in any forward-looking statement.