PHOENIX, Feb. 14, 2007 (PRIME NEWSWIRE) -- Clear Cut Film and Technology Studios, Inc. (Pink Sheets:CFTG) announced today that it is has changed its name to Trans-Global Capital Management, Inc., a symbol change (Pink Sheets:TGCM), and released some details about its immediate business direction.
Phil Young was appointed President, and was given the challenge to find a new vision and direction for the company which would effectively provide shareholder value. Mr. Young also filled the vacancy on the Board of Directors.
Trans-Global Capital Management, Inc. will focus on the experience of its new investors who have brought together a team with a combined 100 plus years of experience in the Insurance field, including but not limited to, Financial Performance Bonds, Portfolio and/or Group Loan Guarantees, Private Placement Guarantees and Project enhancements. These targeted products will allow for rapid growth and expansion of the new business.
To reflect its new direction, the Company has initiated a search to acquire a property and casualty insurance company licensed in those USA States in which the new group strategically sees its short and long term growth.
The Company expects to announce an acquisition in the very near future.
Forward-Looking Statements:
Except for historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "revolutionary," "should," "ideal," "extremely," and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risk and uncertainties. When made available see the Company's filings with the Securities and Exchange Commission including without limitation, the company's recent Form 10-Ks and Form 10-Qs, which identify specific factors that may cause actual results or event to differ materially from those described in the forward-looking statements.