Business
WMD Holdings Group, Inc. announces majority acquisition of Southern California retail financial center
WMD Holdings Group, Inc. announces majority acquisition of Southern California retail financial center.
About this update from Wmd Hldgs Group Inc
[{"type":"text","content":"RIVERSIDE, Calif., April 28, 2006 - WMD Holdings Group Inc. (WMDH Other OTC: WMDH.PK ) (Worldwide Media Development Holdings Group, Inc.) announced today the acquisition of ABC Cash Services in Garden Grove, California. \r\n\r\nThe acquisition provides WMDH with a 75% majority equity stake in the business with Kadan Corporation, a Southern California investment firm owning a 25% minority interest. The ABC Cash services location provides check cashing, money transfer, bill payment, prepaid telecommunications and legal services to a Hispanic and Vietnamese customer base. \"WMDH is actively acquiring profitable retail financial centers that focus on the Hispanic community. The acquisition of ABC Cash Services is a perfect match because of its location, client base and current profitability. We anticipate even greater results from this location,\" stated WMDH's CEO, Lawson Pillay.\r\n \r\nAbout WMD Holdings Group, Inc.\r\n\r\nWMD Holdings Group, Inc. and its strategic partner companies develop turnkey solutions for financial and payment processing, prepaid services, telecommunications and interactive broadcasting networks. Distribution is conducted through a combination of company owned and operated locations and other independent sales organizations.\r\n\r\nSafe Harbor Statement \r\n\r\nThe foregoing press release contains forward-looking statements. For this purpose any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as ``may,'' ``will,'' ``expect,'' ``believe,'' ``anticipate,'' ``estimate,'' ``continue,'' or comparable terminology are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending on a variety of factors. \r\n\r\nContact:\r\n Investor Relations \r\n\t Worldwide Media Development Holdings Group, Inc.\r\n 1(714)782-8320\r\n [email protected]\r\n \r\nSource: WMD Holdings Group, Inc. \r\n\r\n","length":2074,"tagName":"div"}]