Business
GNCC Capital, Inc. Clarifies on Its Proposed Acquisitions and Progress
GNCC Capital, Inc. Clarifies on Its Proposed Acquisitions and Progress.
About this update from Gncc Capital, Inc.
[{"type":"text","content":"\n \n GNCC Capital, Inc. (OTC:GNCP) (“The Company”) clarifies certain points \n in its press release dated June 30, 2014 and updates on progress, \n following a large number of enquiries from our stockholders:\n \n \n As the Company has now completed its reorganization, it is intended that \n the Company now evolve into a Diversified Holding Company with an \n emphasis on strong cash generation and on earnings per share.\n \n \n The Company is in the final stages of acquiring two initial companies, \n one owning and operating land based gaming properties in Florida and the \n other is in the business of trading index related futures. We are not \n prepared to elaborate further until these acquisitions are completed and \n announced.\n \n \n Completion of these acquisitions has taken longer than anticipated and \n primarily due to licensing requirements in respect of the Florida gaming \n operations and the fact that the futures trading operation is based \n overseas. It is envisaged that the gaming acquisitions will be completed \n very shortly and that the acquisition of the futures trading business \n will be within the next two weeks.\n \n \n Both of these companies that we are seeking to acquire have strong \n Management and are well established. Management of these Companies, post \n our acquisition, will continue to manage and to grow these businesses.\n \n \n These acquisitions will be funded through the issuance of various \n classes of shares of Preferred Stock and not through the issuance of \n shares of Common Stock nor through the issuance of Convertible Loan \n Notes.\n \n \n The Company is reviewing the best options to extract value from its \n portfolio of Mining Exploration Properties. Management believes that the \n extensive financing required to fund Mining Exploration must be obtained \n on terms that are not prejudicial to stockholder interests. Should we be \n successful in completing upon these acquisitions, the Company will enjoy \n strong earnings and cash flow, this facilitates more attractive \n financing terms.\n \n \n Upon completion of these acquisitions we will provide forward looking \n guidance as to our projected earnings and as to our strategy to grow our \n earnings through additional acquisitions to bolt onto these businesses \n being acquired.\n \n \n The Company is finalizing it...