Focus Gold Announces New Business Roll-Up
19 December 2013 - 5:30PM
Marketwired
Focus Gold Announces New Business Roll-Up
MERRITT ISLAND, FL--(Marketwired - Dec 19, 2013) - Focus Gold
Corp. (OTCQB: FGLD) today announced that it has begun to implement
its planned roll-up of accounts receivable management companies and
has formed two wholly-owned subsidiaries, Focus Gold Financial
Corp., which will focus on the retail collections market, and Focus
Gold Commercial Resolution, which will focus on the commercial
recovery market. According to Michael Gelmon, new CEO of FGLD: "The
receivables management market segment is a fast growing market
segment with a projected 23% rate of growth through 2016, according
to the Bureau of Labor Statistics. The industry averages about 20
percent recovery on delinquent debt, and, on a nationwide basis,
businesses placed more than $150 billion in debt value for
collection in 2010, with about $40 billion actually collected.
There are very few publicly-traded collection companies, and we see
the opportunity to roll-up both commercial and consumer collection
agencies, which are largely fragmented and ripe for a roll-up
strategy."
FORWARD-LOOKING STATEMENT
Certain statements contained herein and subsequent oral
statements made by and on behalf of Focus Gold Corp. may contain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward looking
statements are identified by words such as "intends",
"anticipates", "believes", "expects", and "hopes" and includes,
without limitation, statements regarding Focus Gold Corp.'s plan of
business operations, product research and development activities,
anticipated revenues and expenses and potential contractual
arrangements and obligations. Also, our management may make
forward-looking statements orally to investors, analysts, the media
and others. Any statements made in this news release about an
action, event or development, are forward-looking statements. Such
statements are based upon assumptions that in the future may prove
not to have been accurate and are subject to significant risks and
uncertainties. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Company. These risks and others are included from
time to time in documents we file with the Securities and Exchange
Commission, including but not limited to, its Form 10-Ks, Form
10-Qs and Form 8-Ks. Other unknown or unpredictable factors also
could have material adverse effects on our future results.
Accordingly, you should not place undue reliance on these
forward-looking statements. Although the Company believes that the
expectations reflected in the forward-looking statements are
reasonable, it can give no assurance that its forward-looking
statements will prove to be correct. Investors are cautioned that
any forward-looking statements are not guarantees of future
performance and actual results or developments may differ
materially from those projected. The forward-looking statements in
this press release are made as of the date hereof. The Company
undertakes no obligation to update or correct its own
forward-looking statements, except as required by law or those
prepared by third parties that are not paid by the Company. The
Company's SEC filings are available at http://www.sec.gov.
Contact: Focus Gold Corp. Media Department
Information@focus-gold.com