ATLANTA, Jul 28, 2006 (BUSINESS WIRE) --
Silver Screen Studios, Inc. (OTCBB: SSSU), www.silverscreenstudiogroup.com, today announced that the Company has officially began the process of becoming a Holding Company. Currently Silver Screens Studios has three business units that will be spun off into their own publicly traded companies over the next few months. Each of the business units: Real Estate, Financial Services and Entertainment will be put into a pink sheet shell and a dividend paid to shareholders.
The first shell has been acquired and the dividend and pricing for Global 1 Real Estate Investment Group, Inc., our Real Estate Business Unit will be announced shortly. Over the next two to three months we will acquire additional pink sheet shells for our remaining business units.
Holding Company Formation:
The Holding Company concept was set up so the parent company, Silver Screens Studios, Inc. will become Silver Screens Holdings, Inc. Silver Screens Holdings will develop each business unit and spin each company off into its own publicly traded company. In the meantime, Silver Screens will begin to look for new companies to acquire and develop for 2007 and beyond.
"We feel this is absolutely the best way to build shareholder value for Silver Screens' shareholders," Donald Evans, CEO of Silver Screens Studios stated. "Ownership in not one, but multiple companies not only is a way to build value but reduce risk over time as well," Evans concluded.
Our restructuring is moving along ahead of schedule. As of Wednesday, 26 July, 2006 we have acquired a lease for office space for Global 1 Real Estate Investment Group, Inc. in the business district of Atlanta, GA in a Class A building. Securing this centrally located office space will provide Global 1's operations a place to conduct business and continue to grow. This is also an essential part of the execution of Silver Screen's overall business restructuring and that is to have each one of our business units become a stand-alone, publicly-traded company.
We have received publishing and marketing funding for our first two novels, The Set-Up and The Single Life. And, we have received a Line of Credit for the development of our film slate and equipment acquisition including a high definition camera.
Summary:
We are moving to build value for our shareholders as we build our business plan and model, the results are beginning to accrue and we expect to continue to achieve our objectives.
Disclaimer: The below disclaimer is incorporated by reference as if fully set forth herein this as well as all media releases on SSS behalf. The statements contained in this released are forward looking and may or may not occur due to forces beyond the company's control.
SOURCE: Silver Screen Studios, Inc.