IRVINE, Calif., Jan. 18, 2007 (PRIME NEWSWIRE) -- Sage Global Solutions, Inc. (Pink Sheets:SGGL) (Frankfurt:Q9A) announced today that it has completed audits for the periods ended December 31, 2005 and 2004. The updated, audited financial statements can be viewed on the company's web site: http://www.sage-global.com.
"Completion of these audits is a major step toward our goal of becoming a fully-reporting company under U.S. Securities and Exchange Commission (SEC) regulations, in preparation for listing our shares on the OTC Bulletin Board(r) (OTCBB) or other markets," said Henry Davidson, president of Sage Global Solutions. "Having completed five significant acquisitions over the past 18 months, which has lead to numerous marketing and sales agreements, we are right on track with our strategic business plan. As a result, we are accelerating our efforts to become a fully-reporting company. We will have year end 2006 audits completed in the near term and firmly believe that this financial visibility will enhance investor interest and confidence, lower our cost of capital, and make our stock more attractive to institutional investors."
The annual consolidated financial statements for 2005 and 2004 reflect the financial statements of Sage and its wholly-owned subsidiaries, Express Notary Service, Inc. and Online Mortgage, Inc. Sage subsequently acquired RJC Insurance Services, PremierPoint Insurance Services and JPJ Reinsurance, therefore revenues from these entities are not represented in prior year financial statements.
About Sage Global Solutions
The mission of Sage Global is to present a full spectrum of insurance and financial services and solutions for small to medium businesses. Sage currently has five wholly owned subsidiaries including Express Notary Service, Inc., Online Mortgage Inc., RJC Insurance Services, and PremierPoint Insurance Services and JPJ Reinsurance. PremierPoint offers innovative insurance products specializing in Workers' Compensation and the utilization of captive programs. PremierPoint also provides traditional wholesale agency products, program consulting and risk management assistance to insurance agents and carriers. RJC Insurance Services is a premier commercial insurance agency based in Southern California. Express Notary Service, Inc. is an online mobile notary service that specializes in loan document closings and has an extensive network of notary agents throughout the U.S. Online Mortgage Inc. is a lead generation and marketing portal. JPJ Reinsurance issues insurance policies to insurance carriers in select markets for select risks. Over the past several months Sage has taken significant steps toward reaching its goal of becoming a complete insurance and financial services institution and will continue to seek acquisitions, positioning itself as a market leader in a rapidly-growing industry. Visit http://www.sage-global.com for more information.
Safe Harbor Statement
Statements in this press release about the company's future expectations other than historical facts are "forward-looking statements." It is important to note that actual results could differ materially from those in such "forward-looking statements" and "forward-looking statements" are inherently subject to risks and uncertainties.