Totowa, NJ, May 20, 2013 (GLOBE NEWSWIRE) -- In an effort to keep our shareholders apprised with the progress made at Premiere Opportunities Group, Inc., we wanted to start with a general corporate overview which would give our shareholders a more lucid picture of where we are today and what is in store for the future as to our overall corporate mission.
Chris Giordano Premiere's Chairman quoted "Over the last year we have been able to reduce our total liabilities substantially from just under $3.5 million to under $1.9 million .We also expect by the end of 2013 to have reduced our total liabilities to under $300,000 thru the negotiations taking place as of this time.
Although this process has taken a while, it was a necessary step in order not to only put our own fiscal affairs in order but to also demonstrate to our clients and potential clients our ability to financially engineer ourselves into a considerably more healthy state of financial affairs than when we took control of the former company known as Premiere Publishing Group, Inc
Since then we are happy to report that in conjunction with parring down our debt and total liabilities we have also gained excellent response from a number of private companies looking to hire us for our expertise in the advisory services arena. Once hired we would establish along with cash fees an equity stake in each client company. At this moment we are in late stage discussions with several companies which would hire Premiere thru our wholly owned subsidiary known as Trident Merchant Group, Inc.
Trident Merchant Group, Inc is comprised of several individuals with substantial experience and success in the areas of corporate planning, financial engineering, capital procurement, licensing, branding and the "going public" process.
Once we develop an equity stake in our client companies thru our Trident Merchant Group, Inc subsidiary it is our intention to distribute to Premiere's "shareholders of record" their pro rata amount of such client companies common stock so as long as they are shareholders of Premiere on the to be declared "record date."We expect to continue in this vein for the foreseeable future in order to increase the overall return for our shareholders thru stock dividends as well as potential earnings from our operations.
We have also develped a team to seek out domestic companies in the design, manufacturing and distribution of apparel. We are looking to take the "Made in the USA" theme, and our design and manufacturing expertise and distribute our products into both South East Asia and Mainland China.
To such goal we are pleased to announce that we have signed a letters of intent with two such companies that are involved in the design, manufacturing and distribution of denim products here in the United States. We expect to be in a position to close both of these acquisitions and announce them very shortly.
Once closed we will begin the process of initiating and fortifying the opportunity that exist overseas for us to distribute such products to 500,000,000 middle and upper class people that reside in both Mainland China and SE Asia. In both the past and present date the people of these countries have shown a tremendous appetite for "western brand" clothing and other merchandise.
We have a management team in the area of apparel that has deep rooted relationships in these foreign markets which would allow us to potentially increase substantially the sales and earnings of the companies we acquire. This revenue/acquistion model would henceforth increase our "Return on Investment:" dramatically per such acquisition(s) which in turn could potentially lead to substantially increasing shareholder value.
Working with companies that possess the ability to design and manufacture but lack the ability to procure the distribution channels in SE Asia and Mainland China is an area we will be aggressive in pursuing during the foreseeable future. We feel this model based on our ability to distribute overseas is one that we can foster growth in for years to come.