Launch TV reaches a national audience of 40+ million in Europe and America; it can be viewed live on ROKU, iPad, iPhone, Android and Smart TV devices via iPoint TV
Fort Wayne, IN -- (SBWIRE) -- 12/22/2014 -- Success Holdings Group International (OTC QB: SHGT) and Freedom Energy Holdings, Inc. announced the sale and purchase of the majority ownership of Launch TV Network Company, a Virginia corporation and previously the wholly owned subsidiary of Freedom Energy Holdings, Inc. ("Launch TV").
Per the terms of the definitive agreement, in exchange for 500,000 restricted shares of SHGT 's common shares, SHGT purchased from Freedom Energy Holdings, Inc. 55% of Launch TV. The shares of SHGT will carry a 24 month lock up.
Steve Chen, Chairman of SHGT commented, "I am extremely excited to bring in our first acquisition of a USA operation. The Launch TV platform is a perfect fit for our entertainment and video distribution. SHGT is currently seeking and identifying private and public companies in Asia as acquisition and merger candidates. It is my vision to have SHGT listed on the Frankfurt Stock Exchange and AMEX in fist half of 2015. This will give SHGT the leverage to acquire more valuable companies in throughout Asia and the USA."
Brian Kistler, CEO of Freedom Energy Holdings, Inc. stated, "When I acquired Launch TV about 8 months ago I had full intention of eventually introducing Launch TV to Mr. Chen. The timing was not right for SHGT to get involved with Launch TV in April of 2014 but now that it has a firm foothold and moving forward with its plans it is a match made in Heaven. The shares of SHGT will be held in the name of Freedom Energy Holdings, Inc. and will be distributed in a stock dividend to the shareholders of Freedom Energy Holdings, Inc. at some point (within the lockup). The date for the dividend is still to be determined but until then will remain an asset of Freedom Energy Holdings, Inc.."
Launch TV reaches a national audience of 40+ million in Europe and America; it can be viewed live on ROKU, iPad, iPhone, Android and Smart TV devices via iPoint TV. Launch TV is planning to expend its market into Asia in 2015.
Future Business Operations
SHGT is currently seeking and identifying private and public companies in Asia as acquisition and merger candidates. SHGT is currently trading on the USA OTC markets and is now forecasting pretax earnings of $0.4~$0.5 per share. It is Mr. Chen's vision to have SHGT listed on the Frankfurt Stock Exchange soon and AMEX in the near future. This will give SHGT leverage to acquire more valuable companies in Asia. Mr. Chen and SHGT will focus on integration of chain stores and brand names, IOT (Internet of Things), alternative energy technology, internet and logistics. Mr. Chen stated "Through the newly structured public company, we will be able to pursue more aggressively to acquire quality companies in Asia. We have plans to invest or acquire up to 30 companies within the next ten to fifteen years, and our shareholders should be able to reap the benefit of the higher growth potential in the Asia region.
FORWARD LOOKING STATEMENT
This press release contains certain "forward?looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward?looking statements. The Company, through its management, makes forward?looking public statements concerning it expected future operations, performance and other developments. Such forward?looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in company's public announcements.
SHGT- Investor Relations
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SHGT Website: www.shgtusa.com