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Full Alliance Group, Inc., Releases a Letter to Shareholders.From The Chairman of Full Alliance Group, Inc.
Full Alliance Group, Inc., Releases a Letter to Shareholders.From The Chairman of Full Alliance Group, Inc..
About this update from Full Alliance Group, Inc.
[{"type":"text","content":"\n\n PALM DESERT, Calif., Dec. 13, 2017 (GLOBE NEWSWIRE) -- Full Alliance Group, Inc. (The \"Company\") (OTCPK: FAGI), a holding company, today issued the following letter to shareholders.\n To all Full Alliance Group Shareholders: As we conclude 2017, the Board of Directors would like to thank shareholders, our employees and their families for the continued patience as we work to reach the objectives that we have been striving to achieve for nearly four years. We know that it has come at a cost, both emotionally and financially, for many of you. Without your perseverance we would certainly not be where we are today, on the precipice of finally moving our company forward. We are extremely pleased today, more than ever, Full Alliance is positioned to succeed in achieving our initial objective of acquiring the substantial assets of Grupo Richard. This diverse company has limitless potential on many fronts, from real estate ownership & development, to construction, mining and the implementation of proprietary banking technology. The assets were acquired at a discount and therefore we feel that not only have we been able to achieve shareholder value from day one, but we should also be able to exponentially build value as these assets are developed. Full Alliance was able to negotiate the acquisition of Grupo Richard's assets with a combination of $1.5M in cash and 20M in restricted shares of common stock. Grupo Richard has an expert, third party valuation by Riedel Research Group of over $280M. When Grupo Richard desired to take its stable of assets public, it had two options. The first option--an initial public offering (IPO)--can be a tedious process involving brokers and investment banks. This can take a year or more, under even the best of circumstances and cost millions of dollars. The other option--a merger--is much faster and minimizes third party interference. In exchange for the faster and simpler approach, often the merging company is willing to transfer its assets at a discount. Looking ahead to 2018, management has already eyed several highly qualified and seasoned individuals from both the United States and Central/South America who should be more than capable of driving growth of operations, spearheading corporate strategy, and maximizing efficiencies. These individuals have experience with institutional capital as...