Business
BEVERLY HILLS GROUP, INC. ENTERS FINAL PHASE OF BANKING SERVICES COMPANY ACQUISITION
BEVERLY HILLS GROUP, INC. ENTERS FINAL PHASE OF BANKING SERVICES COMPANY ACQUISITION.
About this update from Full Alliance Group, Inc.
[{"type":"text","content":"BEVERLY HILLS GROUP,\nINC. ENTERS FINAL PHASE OF BANKING SERVICES COMPANY ACQUISITION BEVERLY HILLS, CA, April 27, 2016 – BEVERLY HILLS GROUP, INC.\n(“The Company”) (OTC:PK BHGI) is pleased to announce they are in the final\nstage of their third acquisition, “ON Comercio”. ON Comercio is a niche banking company that installs Point of Sale (PoS)\nunits in small convenience stores and kiosks. This provides them with\nbanking/credit card services, domestic/international shipping services and\ninventory management/ordering services. In addition, these PoS units can\nbe used to pay tax and utility bills. ON Comercio will earn a percentage\nof each transaction. One critical aspect of the ON Comercio service is that it allows the\nstores to participate in a wide range of services. Most small convenience\nstores and kiosks in Mexico do not have bank accounts. By opening a bank\naccount with ON Comercio the shop becomes more official in the eyes of the\ngovernment, their service providers (i.e. utilities) and their suppliers. \nThe stores will also be able to accept credit and debit cards, which are\ngrowing in popularity in Mexico. The company plans to\nrollout ON Comercio services in three states initially: Baja California,\nGuanajuato and San Luis Potosí. Management estimates that the ON Comercio business could reach $42M in\nrevenue by Year 2 after funding. Listed consumer finance operations in\nMexico trade at an average of 2.9 times Price to Sales. Applying this\nmetric to the estimates for Year 2 provides a valuation of $121M to the ON\nComercio business. Management estimates that approximately $18M would\nhave to be invested to achieve this level of sales, providing a value of\napproximately $103M from this business. We believe that the longer-term valuation of ON Comercio could be much\nhigher. As the business grows and becomes a more integral part of the\nMexican convenience store industry, the value of ON Comercio could rise towards\n$1B. This is a very exciting time for BHGI shareholders as we enter the\nclosing phase of this important acquisition. Jacob ThomasChairman of the BoardBeverly Hills Group, Inc. About\nBeverly Hills Group Inc.Beverly Hills Group,\nInc. is a holding company which is focused on ec...